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Penneo achieves 18% year-on-year ARR growth, improved EBITDA, and positive cash flow from operations

Company Announcement No. 18-2024Copenhagen, 20 November 2024Financial report for the period 1 July 2024 - 30 September 2024Q3-2024 performance highlights In Q3-2024, the number of new customers increased compared to the same period last year, though individual deal sizes were smaller. A lower cost base highlights improved sales efficiency, and many of these new customers come from growth markets outside Denmark. Additionally, a major new customer was secured in Germany, with the ARR expected to be recognized later this year. · ARR increased by 8.2M DKK in Q3-2024 YTD compared to

Adjusted ARR and EBITDA outlook for 2024

Company Announcement No. 17-2024Copenhagen, 19 November 2024Inside InformationPenneo adjusts ARR guidance for 2024 from 105-112M DKK to 101-106M DKK, and EBITDA from positive 5-10M DKK to positive 10-15M DKK. The adjusted ARR guidance corresponds to a year-on-year growth rate of 13%-19% compared to the previously communicated 18%-25%. In company announcement No. 7-2024, Penneo announced ARR guidance of 105-112M DKK for 2024 and EBITDA guidance of positive 5-10M DKK. In company announcement No. 15-2024 regarding the financial report for 2024-H1 the ARR and EBITDA guidance remained

Chief Commercial Officer & Co-founder steps down to pursue new opportunities

Company Announcement No. 16-2024Copenhagen, 24 September 2024André Clement, Chief Commercial Officer (CCO) and co-founder of Penneo, is stepping down from his position to pursue new opportunities in the startup environment. “I would like to sincerely thank André for his significant contributions to Penneo over the years. As one of our co-founders, André has played a key role in shaping Penneo into the mature and well-established company it is today. His insights from the auditing industry, along with his strong sales and relationship management skills have been essential to our growth

Penneo achieves 21% year-on-year ARR growth in H1-2024 and strong improvement in EBITDA

Company Announcement No. 15-2024Copenhagen, 28 August 2024Financial report for the period 1 January 2024 - 30 June 2024H1-2024 performance highlights Strong new business performance and continued uplift from existing customers due to increased engagement, though negatively impacted by temporary downgrades, churn, and adverse currency fluctuations in H1-2024. Additionally, there was a strong improvement in EBITDA. · ARR increased by 6.2M DKK compared to 8.3M DKK in H1-2023 · ARR increase from Newbiz amounted to 6.6M DKK compared to 4.3M DKK in H1-2023 · ARR increase from

Möhrle Happ Luther chooses Penneo KYC for AML compliance in Germany

Penneo has reached a significant milestone in its expansion into the German market by welcoming a new business partner, Möhrle Happ Luther. This partnership is a crucial step in strengthening Penneo's presence and commitment to the German market.Möhrle Happ Luther, one of Germany's leading corporate law firms, has selected Penneo KYC as their digital solution for compliance with anti-money laundering (AML) regulations.  "We look forward to collaborating with Penneo to achieve a more efficient and secure KYC and AML process. We are confident that Penneo's solutions will help us maintain

Penneo achieves 23% year-on-year ARR growth in Q1 2024

Company Announcement No. 14-2024Copenhagen, 23 May 2024Financial report for the period 1 January 2024 - 31 March 2024Q1 2024 performance highlightsStrong new business performance and continued uplift from existing customers due to increased engagement, though negatively impacted by temporary downgrades, churn, and adverse currency fluctuations. · ARR increased by 2.0M DKK compared to 3.3M DKK in Q1-2023 · ARR increase from Newbiz amounted to 3.5M DKK compared to 2.0M DKK in Q1-2023 · ARR increase from uplift amounted to 0.0M DKK compared to 2.0M DKK in Q1-2023 · ARR

Orientering om forløb af ordinær generalforsamling i Penneo

Selskabsmeddelelse nr. 13-2024 København, 10. april 2024Selskabets ordinære generalforsamling blev afholdt den 10. april 2024, kl. 15.00, som en generalforsamling med fysisk deltagelse på Penneos adresse, Enghavevej 40, 4., 1674 København V. Generalforsamlingen blev samtidig livestreamet via Penneos investorportal. Dagsordenen var som følger: 1. Bestyrelsens beretning om selskabets virksomhed i det forløbne regnskabsår 2. Fremlæggelse af årsrapport med revisionspåtegning til godkendelse 3. Beslutning om anvendelse af overskud eller dækning af underskud i henhold til den

Grant of warrants

Company Announcement No. 12-2024 Copenhagen, 27 March 2024Today, the Board of Directors has exercised part of its current authorization to issue a total of 703,854 warrants to the Executive Management and key managers in Penneo in accordance with the remuneration policy.  The Executive Management were granted warrants in accordance with the revolving warrant program as mentioned in the remuneration policy, whereas the key managers were granted warrants on a discretionary basis.  The warrants vest in three equal yearly installments with the first installment vesting on 27 March 2025.

Notification of transaction by person discharging managerial responsibilities in Penneo A/S

Company Announcement No. 11-2024Copenhagen, 12 March 2024In accordance with the Market Abuse Regulation, Penneo must notify Finanstilsynet and publicly disclose transactions made by persons discharging managerial responsibilities and persons closely associated with them on trading of Penneo shares.  Penneo hereby notify and submit the attached transaction of shares in Penneo.

Notification of transaction by person closely associated to person discharging managerial responsibilities in Penneo A/S

Company Announcement No. 10-2024Copenhagen, 12 March 2024In accordance with the Market Abuse Regulation, Penneo must notify Finanstilsynet and publicly disclose transactions made by persons discharging managerial responsibilities and persons closely associated with them on trading of Penneo shares.  Penneo hereby notify and submit the attached transaction of shares in Penneo.

Penneo cancel its extraordinary general meeting planned for 29 February 2024

Company Announcement No. 8-2024 Copenhagen, 23 February 2024On 28 January 2024, founding shareholders André Clement and Jakob Neua Nørgaard requested Penneo’s Board of Directors to convene an extraordinary general meeting as disclosed in Company Announcement no. 4-2024.  A larger group of shareholders - counting Viking Venture, ATP, other institutional and private investors and founding shareholders Jakob Neua Nørgaard and André Clement have since found a solution and a group of individuals that enjoy widespread backing to serve in Penneo’s Board of Directors.  Consequently, André

Penneo achieves 26% year-on-year ARR growth in 2023

Company Announcement No. 7-2024Copenhagen, 21 February 2024Annual report for the period 1 January 2023 - 31 December 20232023 performance highlights · ARR increased by 18.4M DKK to 89.3M DKK corresponding to 26% year-on-year (YoY) growth at the end of the year · ARR increase from Newbiz amounted to 10.1M DKK compared to 8.5M DKK in 2022 · ARR increase from Uplift amounted to 11.4M DKK compared to 9.1M DKK in 2022 · ARR lost to Churn amounted to 3.2M DKK compared to 2.2M DKK in 2022 · ARR from foreign markets increased by 7.1M DKK compared to 5.2M DKK in 2022 · EBITDA

Updated Financial Calendar 2024

Company Announcement No. 6-2024 Copenhagen, 14 February 2024The annual report for 2023 is expected to be published on 21 February 2024 instead of 6 March 2024.  All other dates remain unchanged.  Consequently, Penneo plans to publish its · Annual Report for 2023 on 21 February 2024 · Interim Report for 2024-Q1 on 23 May 2024 · Interim Report for 2024-H1 on 28 August 2024 · Interim Report for 2024-Q3 on 20 November 2024 The annual report is accelerated to provide Penneo's shareholders with an updated financial status ahead of the Extraordinary General Meeting on 29

Meddelelse om ekstraordinær generalforsamling i Penneo

Selskabsmeddelelse nr. 5-2024 København, 7. februar 202Bestyrelsen indkalder til ekstraordinær generalforsamling i Penneo A/S (”Penneo”) den 29. februar 2024 kl. 10:00 (CET).  Bestyrelsen indkalder hermed til ekstraordinær generalforsamling på Penneos adresse, Enghavevej 40, 4. sal, 1674 København V,  da en gruppe af aktionærer har stillet forslag om  afsættelse af flertallet af medlemmerne af den siddende bestyrelse samt valg af fem nye medlemmer af bestyrelsen.  Generalforsamlingen vil være med fysisk deltagelse, men vil samtidig blive livestreamet via Penneos investorportal.

Shareholders request the Board of Directors to convene an extraordinary general meeting

Company Announcement No. 4-2024 Copenhagen, 2 February 2024Founding shareholders André Clement and Jakob Neua Nørgaard have - on 28 January 2024 - requested the Board of Directors to convene an extraordinary general meeting.  In accordance with the Danish Company Act and Penneos Articles of Association, the Board of Directors must publish the notice to convene no later than two weeks after the shareholders request.  The shareholders have proposed to dismiss Christian Sagild, Rikke Stampe Skov, Morten Elk, and Steffen Heegaard from the Board of Directors and will propose new

Notification of transaction by person closely associated to person discharging managerial responsibilities in Penneo A/S

Company Announcement No. 3-2024Copenhagen, 25 January 2024In accordance with the Market Abuse Regulation, Penneo must notify Finanstilsynet and publicly disclose transactions made by persons discharging managerial responsibilities and persons closely associated with them on trading of Penneo shares.  Penneo hereby notify and submit the attached transaction of shares in Penneo.

Preliminary financial statements before audit: Penneo adjusts EBITDA guidance for 2023

Company Announcement No. 2-2024 Copenhagen, 15 January 2024Penneo adjusts EBITDA guidance for 2023 from negative 10-15M DKK to negative 8-10M DKK. In Company Announcement no. 03-2023 released on 28 February 2023, Penneo provided guidance for its EBITDA result with a forecast of negative 10-15M DKK for the year 2023.  As part of the process of preparing end-of-year financial statements for review by our external auditor, we have reached the conclusion that an adjustment of our EBITDA guidance is required. Consequently, Penneo is now changing its EBITDA guidance for 2023 from

Notification of transaction by person discharging managerial responsibilities in Penneo A/S

Company Announcement No. 1-2024Copenhagen, 9 January 2024In accordance with the Market Abuse Regulation, Penneo must notify Finanstilsynet and publicly disclose transactions made by persons discharging managerial responsibilities and persons closely associated with them on trading of Penneo shares.  Penneo hereby notify and submit the attached transaction of shares in Penneo.

Chief People & Culture Officer steps down

Company Announcement No. 42-2023 Copenhagen, 20 December 2023Sara Lindgaard is stepping down from her position as Chief People & Culture Officer to pursue a career outside of Penneo. “I would like to thank Sara for her important contributions to Penneo. Sara has been my trusted colleague and a highly appreciated management team member throughout the last two years. She has also played a key role in scaling and professionalizing our company further. While we regret Sara’s decision, we also respect her wish to pursue a new opportunity outside Penneo. We wish her all the best in her

Notification of transactions by person discharging managerial responsibilities in Penneo A/S

Company Announcement No. 41-2023Copenhagen, 18 December 2023In accordance with the Market Abuse Regulation, Penneo must notify Finanstilsynet and publicly disclose transactions made by persons discharging managerial responsibilities and persons closely associated with them on trading of Penneo shares.  Penneo hereby notify and submit the attached transactions of shares in Penneo.

Capital increase in connection with exercise of warrants

Company Announcement No. 40-2023Copenhagen, 8 December 2023Penneo issued a total of 4,502,603 warrants in May 2020 prior to the IPO.  Prior to the opening of the exercise window on 21 November 2023 a total of 679,842 warrants remain under the warrant scheme of May 2020. Since 21 November 2023, instructions have been received to exercise warrants as follows:  Warrant scheme May 2020 · One individual has issued instructions to exercise 50,000 warrants at the agreed price of 4.67 DKK per share with a nominal value of 0.02 DKK · One individual has issued instructions to

Correction to Company Announcement no. 37 - Notification of transactions by person discharging managerial responsibilities in Penneo

Company Announcement No. 39-2023Copenhagen, 6 December 2023On 5 December 2023 in company announcement 37, Penneo notified Finanstilsynet and publicly disclosed transactions made by a person discharging managerial responsibilities. However, in the template the prices and volumes were only disclosed as the aggregated information and not split up into seperate "Price(s)" (Section 4, c)). Hence, Penneo notifies Finanstilsynet and publicly discloses the transactions again with this amendment.  Aggregated prices and volumes remain the same.

Notification of transactions by person discharging managerial responsibilities in Penneo A/S

Company Announcement No. 38-2023Copenhagen, 5 December 2023In accordance with the Market Abuse Regulation, Penneo must notify Finanstilsynet and publicly disclose transactions made by persons discharging managerial responsibilities and persons closely associated with them on trading of Penneo shares.  Penneo hereby notify and submit the attached transactions of shares in Penneo.

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