Relesys realizes 33% year-over-year growth in Annual Recurring Revenue in Q1 2022.
Relesys A/S | Quarterly Announcement Q1 2022
Company Announcement No. 6-2022
Copenhagen, May 25th, 2022
First-quarter period: 1 January 2022 - 31 March 2022
Relesys achieved an Annual Recurring Revenue (ARR) of DKKm 33.8 and is starting the year in accordance with the plan.
Current financial guidance is kept unchanged.
Summary:
Relesys started 2022 by executing on the strategy presented in the IPO Prospectus from December 2021. During Q1 Relesys increased its sales efforts by hiring 15 new colleagues in Sales and Marketing. As such Q1 was a quarter for welcoming and onboarding new talent, while also delivering ARR growth of 33% year-over-year. Relesys continued to sign top industry brands such as Sonova AG.
- ARR increased from DKKm 25.5. in Q1 2021 to DKKm 33.8 in Q1 2022, corresponding to 33% year-over-year growth.
- NRR was 103% for the period and was 109% year-over-year.
- ARR churn rate was 1.3% for the period.
- ARR uplift was 4.2% for the period.
- ARR from new customers increased by DKKm 1.6 during the period.
- Revenue increased from DKKm 7.7 in Q1 2021 to DKKm 10.0 in Q1 2022 corresponding to 30% growth.
Financial Outlook 2022:
Relesys continues to focus on growing the existing markets in Scandinavia and Benelux. In addition, Relesys will enter the UK market during Q2 2022, which means that Relesys as planned will increase both staff costs and other external expenses significantly in accordance with IPO Prospectus.
For 2022, Relesys expects continued growth in ARR and guides ARR at DKKm 40–42 at the end of 2022, which is in line with the expectations for the future in the IPO prospectus and unchanged from what was communicated in the annual report 2021.
Furthermore, Relesys expects the revenue to grow to DKKm 41–45, at the end of 2022.
CONTACT INFORMATION
Relesys A/S
Jesper Roesgaard, CEO
Mobile (+45) 28 45 97 97
Email: jero@relesys.net
Mads Stoffer Larsen, CFO
Mobile (+45) 26 61 01 02
Email: mala@relesys.net
Certified Adviser
Grant Thornton
Mads Riis Møller
Mobile (+45) 22 83 82 34
ABOUT RELESYS
Relesys is a Software-as-a-Service (SaaS) company founded with the sole purpose to create a more engaged and united workforce. The communication and performance platform enables companies to strengthen their internal communication and performance, by providing employees access to an intuitive user-friendly app, with all the information they need to succeed in their jobs, thus improving the overall performance.
Relesys has a strong product-market-fit within the retail industry, but the platform has proven valuable for other industries where a large proportion of the workforce is not working from a desk in front of a computer and who are isolated from the rest of the organization. Relesys provides a scalable software solution and has already a proven track record internationally.
End of the first quarter 2022, Relesys had 163 customers in 91 countries and supports 23 different languages. The customer base of Relesys includes brands such as Salling Group, Specsavers, Bauhaus, Matas, Telia, Carlsberg Danmark, Amcor, and Vestas, together with several other market-leading brands.