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Improved ARR guidance for 2021-H1 and 2021

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Company Announcement No. 12-2021
Copenhagen, 10 May 2021

Penneo improves the ARR guidance from DKK 41-45m to DKK 45-47m for 2021-H1 and from DKK 52-57m to DKK 54-59m for 2021

In the Annual Report for 2020, Penneo announced an ARR guidance of

  • DKK 41-45M for the first half year of 2021
  • DKK 52-57M for the entire year 2021

Fulfilment of the ARR guidance was conditioned on the following key drivers and assumptions to continue:

  • A continued low customer churn rate
  • A continued level of engagement with the platform
  • A continued ability to obtain new customers across industries and markets

After the ARR guidance for 2021 was published, the following assumptions have changed:

  • A higher level of inflow of customers than assumed, including large customers
  • A stronger uplift on existing customers

Consequently, the ARR guidance for 2021-H1 and for 2021 is improved to:

  • 2021-H1: DKK 45-47m (DKK 41-45m)
  • 2021: DKK 54-59m (DKK 52-57m)

The announced EBITDA guidance for 2021 of negative DKK 15-20m remains unchanged.

Penneo’s report for 2021-Q1 will be released on 26 May 2021.

Forward-looking statements

Statements about the future expressed in the annual report reflect Penneo’s current expectations for future events and financial results. The nature of these statements is affected by risk and uncertainties. Therefore, the company’s actual results may differ from the guided figures.

Further information

Interim CEO, Nicolaj Højer Nielsen
Mobile (+45) 25 46 25 80

Certified Advisor
Grant Thornton, Jesper Skaarup Vestergaard
Direct (+45) 35 27 50 11, Mobile (+45) 31 79 90 00

About Penneo A/S

Penneo A/S (Penneo) is a Software-as-a-Service (SaaS) company, originally focused on delivering the digital pen (Penneo = new pen) back in 2014. Today, Penneo has evolved into an eco-system of automated solutions that digitizes company workflows related to the onboarding of customers (KYC), as well as signing and management of documents in a secure and easy way. The Company offers a RegTech solution that helps companies comply with regulations in an efficient and inexpensive manner. Penneo has a strong position in the Nordic countries and in Denmark, where more than 550,000 persons used Penneo’s workflow in 2019.

For information about Penneo, please visit https://penneo.com/investors/ 

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