MapsIndoors delivers growth of 63% resulting in a total ARR growth of 40% for the company
MapsPeople A/S | Quarterly report 2021-Q3
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This announcement does not constitute an offering circular, Prospectus, or other offer document. No one should purchase or subscribe for any securities in MapsPeople A/S ("MapsPeople" or the "Company") except on the basis of information in the Prospectus published by the Company in connection with the Offering and admission of such securities to trading on Nasdaq First North Premier Growth Market Denmark ("First North"), which is available on the Company's website.
Company Announcement No. 13 - 2021
Aalborg, November 16th 2021
- The total growth in Annual Recurring Revenue (ARR) is driven by growth from MapsIndoors reaching 23.8M DKK at the end of 2021-Q3 which is 63% higher than 14.6M DKK at the end of 2020-Q3.
- Total ARR reached 35.2M DKK at the end of 2021-Q3 which is 40% higher than 25.1M DKK at the end of 2020-Q3.
- MapsPeople increased the MapsIndoors ARR with a total of 3.2M DKK in 2021-Q3.
- 94% of MapsIndoors new ARR in 2021-Q3 is partner based.
- ARR guidance is updated from 44.3M DKK to a range of 41-45M DKK.
ARR Guidance 2021
The guidance of ARR at the end of 2021 is 41-45M DKK, previous guidance of 44.3M DKK is within the range.
In the remainder of 2021 MapsPeople forecast to continue to close a number of large deals to achieve the ARR as guided. The planned expansion of customer solutions could be delayed into 2022 and is the reason for updating the guidance from a specific number to a range.
The last 12 months have delivered a 63% growth in ARR for the primary product MapsIndoors, resulting in an overall growth in ARR of 40% on all 3 revenue streams.
Continued systematic lead generation aimed at strategic industries and regions has resulted in a steadily increasing pipeline, with a high weight on partner based business.
In 2021-Q3, the organization has grown from 76 to 88 team members primarily in sales and deployment to support the rapidly growing demand. The new investments follow the company's plans with a focus on market development, sales channels, products and technology.
Events after 2021-H1
No events affecting the period have occurred after the end of 2021-Q3
Michael Gram, CEO
Mobile (+45) 53 74 09 00
Stigsborgvej 60, 9400 Nørresundby
Jesper Skaarup Vestergaard
Mobile (+45) 31 79 90 00
Grant Thornton Stockholmsgade 45 2100 Copenhagen Ø Denmark
This announcement is not an offer to sell or a solicitation of any offer to buy any securities issued by MapsPeople A/S in any jurisdiction where such offer or sale would be unlawful and the announcement and the information contained herein are not for distribution or release, directly or indirectly, in or into such jurisdictions, including but not limited to, the United States, Australia, Canada or Japan.
This announcement does not constitute an offering circular, Prospectus or other offer document and nothing herein contains an offering of securities. No one should purchase or subscribe for any securities in MapsPeople A/S except on the basis of information in the company description published by the Company in connection with the Offering and admission of such securities to trading on Nasdaq First North Growth Market Denmark ("First North"), which is available on the Company's website.
Neither the existing shares of MapsPeople A/S nor the Offer Shares have been, or will be, registered under the United States Securities Act of 1933, as amended ("Securities Act"). Neither the existing shares nor the Offer Shares may be offered or sold, directly or indirectly, in or into the United States or to persons residing there. Moreover, the Offering is not made to persons resident in Australia, Hong Kong, Japan, Canada, New Zealand, South Africa, Switzerland, or Singapore or to persons whose participation would require the publication of a prospectus, registration or other measures. Any application to subscribe for the Offer Shares in violation of these restrictions may be void. Persons who receive copies of this announcement are required to inform themselves about, and comply with, such restrictions. Any failure to comply with the restrictions described may result in a violation of securities regulations.
Certain statements in this announcement constitute forward-looking statements. Forward-looking statements are statements (other than statements of historical fact) relating to future events and the Company's anticipated or planned financial and operational performance. The words "targets", "believes", "expects", "aims", "intends", "plans", "seeks", "will", "may", "might", "anticipates", "would", "could", "should", "continues", "estimates" or similar expressions or the negative forms thereof, identify certain of these forward-looking statements. Other forward-looking statements can be identified in the context in which the statements are made. The Company has based these forward-looking statements on its current views with respect to future events and financial performance. By their nature, forward-looking statements are based on certain assumptions and projections on future events and financial performance, which involve a number of risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. Actual results are likely to differ from those set forth in the forward-looking statements. Any forward-looking statements speak only as at the date of this document and neither the Company nor any of its respective affiliates, directors, officers, employees, advisors, or any other person is under any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not and may not rely on these forward-looking statements.