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Improved ARR guidance for the end of first half-year 2021

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Company Announcement No. 1-2021
Copenhagen, February 1, 2021

Penneo improves ARR guidance from 38-43M DKK to 41-45M DKK
In Penneo’s IPO document of June 2, 2020, Penneo announced ARR guidance for the end of first half-year 2021 at the level of 38-43M DKK (Company Description, Section 7). Penneo has not given guidance regarding year-end expectations for 2020. 

Penneo now guides the ARR for the end of first half-year 2021 to increase by 2-3M DKK to the level of 41-45M DKK due to:

  • Higher ARR growth from new customers
  • Increased usage of Penneo’s platform by existing customers

“We have achieved strong growth which we expect to continue in 2021. We are experiencing an increasing demand from companies to digitize their processes, and we see a growing and maturing market in front of us in a number of European countries,” says interim CEO and co-founder Nicolaj Højer Nielsen.

The year-end result for 2020 will be published on March 25, 2021 in the annual report. 

The result for 2021-H1 will be published on August 27, 2021.

Further information
Interim CEO, Nicolaj Højer Nielsen
Mobile (+45) 25 46 25 80
PENNEO A/S
VEGA, Enghavevej 40, 4th floor, 
1674 Copenhagen V, Denmark

Certified Advisor
Grant Thornton, Jesper Skaarup Vestergaard
Direct (+45) 35 27 50 11, Mobile (+45) 31 79 90 00
Grant Thornton 
Stockholmsgade 45 2100 Copenhagen Ø, Denmark 

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 automation solutions that digitizes company workflows related to onboarding of customers (KYC), and 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 way. Penneo has a strong position in the Nordics and in Denmark, where more than 550.000 people used Penneo’s workflow in 2019.For information about Penneo visit https://penneo.com/investors/

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