30.8.2022 17:53:00 CEST | Risma Systems A/S |
Company Announcement
Company Announcement No. 14-2022
Copenhagen, August 30, 2022
RISMA H1 2022 Report – attached
Key figures H1 2022
H1 Annual Recurring Revenue (ARR) growth in 2022 increased by approx. four times compared to H1 ARR growth in 2021, from 1.0 MDKK to 3.7 MDKK.
ARR increased by 5.3 MDKK compared to 30 June 2021. This corresponds to 38% growth, from 13.7 MDKK to 19.0 MDKK.
Upselling on existing customers in H1 2022 increased by approx. seven times compared to the first half of 2021, from 0.2 MDKK to 1.3 MDKK.
Revenue Churn increased by 1%-point compared to the same period last year, from 5% to 6%.
Net Revenue Retention Rate improved by 6%-points to 103% in the first half of 2022 compared to 97% in the first half of 2021.
Customer Acquisition Cost decreased by 19 TDKK in the first quarter of 2022 compared to the first quarter of 2021, from 157 TDKK to 138 TDKK.
Revenue increased by 41% in first half of 2022 compared to the same period last year.
EBITDA for 1H 2022 ended at the expected level at -12.1 MDKK, which was a decline of 2.7 MDKK compared to the same period last year.
Guidance
As mentioned in Company Announcement 13-2022, RISMA ARR guidance is updated to 23-26 MDKK for 2022 equivalent to an ARR growth of 50-70%, and RISMA maintains the EBITDA guidance of -21 to -23 MDKK in 2022.
Business update
As expected, 2022 continued with a significant upwards shift in growth. We foresee a significant upward trend in year-on-year growth in H2 2022, especially in Q4.
The direct sales activities in Denmark have delivered as expected. Sales in Sweden and Norway are progressing, but the penetration takes a little longer than anticipated. Norway had, however, their best month ever in June and both Sweden and Norway have significantly stronger pipelines compared to just three months ago. Especially in Norway and Sweden do the partnerships contribute to the pipeline.
The GRC software suite introduced in H2 2021 has led to an increase in new sales to existing customers as well as more initial sales to new customers. Furthermore, our outsourcing solution, which is not part of the suite, has been a significant driver in establishing a strong presence in the insurance and pension industry. We have strengthened our controls solution, which is embedded in the GRC suite. This has also led to new customers, who were only looking for a solution for managing internal controls. It is, however, still the privacy (GDPR) and IT-Security solutions that drives a majority of RISMA’s lead generation and thereby new sales.
We are presently building a new solution to support compliance with a new directive from the EU, the corporate sustainability reporting directive (CSRD). This solution essentially uses the same software code as the GRC solutions.
At the end of 2022, RISMA will thereby have two business legs: 1) The GRC solutions and 2) the CSRD-solution and potentially other sustainability related solutions. We expect the new product(s) related to sustainability to be the biggest new growth driver for RISMA since GDPR in 2017.
PresentationThe H1 2022 update will be presented at online live event on the 1st of September 2022 at 11:00am CET.Please register for the event at: https://hcandersencapital.dk/event/risma-praesentation-af-h1-2022/
For more details please see the RISMA H1 2022 Report attached.
Further InformationLars Nybro Munksgaard, CEO & FounderMobile (+45) 31 48 11 00e-mail: lnm@rismasystems.com
RISMA Systems A/SEjby Industrivej 34-38, 2600 Glostrup, Denmark
Certified AdvisorGrant ThorntonJesper Skaarup VestergaardDirect (+45) 35 27 50 11, Mobile (+45) 31 79 90 00Grant ThorntonStockholmsgade 45, 2100 Copenhagen Ø, Denmark
About Risma Systems A/S
RISMA is a leading SaaS company empowering companies to take their governance, risk and compliance effort to the next level. We believe in the value of good corporate citizenship, and our customers share our vision of aspiring to make a positive difference in complying with both regulatory and stakeholder expectations.
Our software platform supports our customers to be in control and decision wise when structuring, handling, and documenting their efforts across governance, risk, and compliance. Our core GRC suite offers eight business-critical solutions relevant for all companies regardless of size and industry – GDPR & Privacy, ISMS & ISO27001, ESG & sustainability, Enterprise Risk, Financial & Internal controls, Vendors & Contracts, Policy Management, and Incident Management
RISMA is listed on Nasdaq First North with a mission to become a leading GRC platform for medium and enterprise businesses and organizations. We believe that being a good business – is really great for business.
Attachments
Download announcement as PDF.pdf
RISMA – H1 2022 Report.pdf
