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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Penneo
Penneo (PENNEO) investor relations material
Penneo has been delisted
Penneo Q4 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2024 earnings summary11 Mar, 2025
Executive summary
Achieved 15% revenue growth and 14% ARR growth year-over-year, with EBITDA turning positive at 13.9M DKK from negative 8.7M DKK in 2023.
Onboarded a record 730 new customers, with Belgium showing 83% ARR growth and strong international expansion.
Workforce streamlined from 121 to 103, improving efficiency and supporting cash-neutrality goal by end of 2025.
Board supported Visma's public offer to acquire all shares, with delisting from Nasdaq Copenhagen in March 2025.
Financial highlights
Revenue reached 102.1M DKK in 2024, up from 88.4M DKK in 2023; gross profit was 87.7M DKK with an 86% margin.
Net loss for the year was 24.7M DKK, compared to 2.3M DKK in 2023; operating loss improved to 9.8M DKK from 23.1M DKK.
Free cash flow was negative 18.2M DKK, impacted by deferred tax payments; cash flow from operations was 5.8M DKK.
Cash and cash equivalents at year-end were 20.1M DKK, down from 42.2M DKK in 2023.
ARR at year-end was 101.8M DKK, with 29% growth in foreign markets and 8% in Denmark.
Outlook and guidance
Targeting continued growth in Belgium and Germany, with ongoing product innovation in KYC and Sign.
On track to achieve cash-neutral status by end of 2025, expecting operational income to cover product development investments.
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Frequently asked questions
Penneo's platform serves companies who want to automate their processes of confirming and managing customer onboarding, managing documents and signing, automating workflows, and the digitization of paper documents. With a single solution, Penneo enables companies of all sizes to focus on their business strategy without having to invest in extra hardware and software. The company is based in Copenhagen, Denmark.