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SameSystem reports 42.5% year-on-year growth in ARR in H1 FY2021/22 and adjusted guidance for FY2022/23 corresponding to year-on-year ARR growth of 25%.

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Company Announcement No. 12-2022
Copenhagen, 27 June 2022
Inside Information

Financial report for the period 1 October 2021 - 31 March 2022
At the end of H1 FY2021/22, SameSystem’s ARR amounted to DKK 50.3m, an increase of 42.5% compared to H1 FY2020/21. SameSystem’s growth is in line with the targets presented in the IPO document.

Highlights H1 FY2021/22

  • Annual Recurring Revenue (ARR) amounted to DKK 50.3m on 31 March 2022 compared to DKK 35.3m on 31 March 2021
  • The churn rate was 6.2% in H1 FY2021/22 compared to 1.2% in H1 FY2020/21. The churn rate is disproportionately affected by a single customer changing its company registration number, however, nevertheless remaining as a long-term customer of SameSystem without which the churn rate in H1 FY2021/22 would be 5.1%.
  • Uplift in the existing customer base of 5.8% in H1 FY2021/22 compared to 2.3% in H1 FY2020/21
  • SameSystem had 1031 customers on 31 March 2022 compared to 723 on 31 March 2021
  • SameSystem had 112 employees on 31 March 2022 compared to 111 employees on 31 March 2021
  • SameSystem had customers in 24 countries on 31 March 2022 compared to 21 countries on 31 March 2021

Outlook and adjustment of guidance
To accommodate the ambitions to become cash positive, SameSystem is directing its investments to the markets and segments that are the most effective while reducing investments to those less effective. As a result, the ARR guidance is maintained at DKK 59.5m at the end of FY2021/22. The ARR guidance for FY2022/23 is adjusted from DKK 85.2m to DKK 74.4m, corresponding to year-on-year growth of 25%.

Attachment
2022-H1 Financial Report SameSystem

CONTACT INFORMATION

SameSystem A/S
Henrik Ritlov, interim CEO
Mobile: (+45) 40 63 72 29
Email: henrik.ritlov@samesystem.com
SameSystem A/S
Rentemestervej 2A
2400 København NV
Denmark

Certified Advisor
Grant Thornton
Jesper Skaarup Vestergaard
Grant Thornton,
Stockholmsgade 45
2100 Copenhagen Ø
Denmark

About SameSystem A/S

SameSystem is an international Software-as-a-Service (SaaS) company with local presence in nine countries. SameSystem offers a scalable, regulatory compliant and data-driven workforce management (WFM) solution tailored for retail and foodservice.

SameSystem enables retailers and foodservice businesses to maximise performance levels and competencies in their organisations by freeing up time for employees, reducing administration significantly and helping stores and restaurants plan perfectly.

SameSystem’s solution includes AI-powered forecasting, a budget-conscious scheduling feature, automatic payroll processing, digital contracts and signatures, time and attendance tracking and a business intelligence feature.

For more information about SameSystem, please visit https://www.samesystem.com/

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