Impero (IMPERO) Q3 2024 earnings summary

Executive summary

• Achieved 31% year-over-year ARR growth, reaching DKK 36.9M by Q3 2024, with strong net revenue retention of 109% and record net new ARR.

• Added seven new enterprise customers in Q3 and 25 year-to-date, with new product features launched to strengthen market position.

• DACH region now contributes 42% of total ARR, with 56% of new ARR YTD from DACH and 57% of ARR from foreign markets.

• Positive cash flow from operating activities and a solid cash position of DKK 15M at quarter-end.

• Welcomed new Chief Commercial Officer, Mansoor Malik, effective December 1, 2024.

Financial highlights

• Q3 2024 revenue was DKK 9.2M, up from DKK 7.1M in Q3 2023; YTD revenue reached DKK 25.8M, a 29% increase.

• Gross profit margin remained strong at 96% for Q3 2024, up from 95% year-over-year.

• EBITDA improved to DKK -1.6M in Q3 2024 from DKK -2.6M in Q3 2023; for the first nine months, EBITDA was DKK -6.7M, improved from DKK -9.4M.

• Operating loss (EBIT) was DKK -8.9M, an improvement from DKK -11.2M year-over-year.

• Positive cash flow from operating activities of DKK 0.1M, up from DKK -5.7M last year.

Outlook and guidance

• 2024 ARR guidance set at DKK 38M to 42M, representing 25% to 38% growth; EBITDA guidance for 2024 is DKK -11M to -9M.

• Focus on scaling organization, improving cash burn to ARR ratio, and continued investment in product and commercial expansion.

• Key assumptions include partner retention, talent acquisition, customer onboarding, and stable macroeconomic/geopolitical conditions.