Company Announcement No. 66 - 2023
OrderYOYO A/S
Inside Information
Highlights
Business continues to perform strongly. Highly focused strategy solving digital challenges for our
2023 ARR, Net Revenue and EBITDA guidance raised for the fourth time. December ARR guidance raised to
2024 guidance released.
Strong performance in Q3 2023 with September ARR of
EBITDA for 9M 2023 of
EBITDA for Q3 2023 of
June was the first month where our profitability strategy showed a positive Cash EBITDA1). A development that has continued into Q3 with all months showing a positive Cash EBITDA. A very important milestone for OrderYOYO as the organic operations is now self-sustaining and independent of external capital
Financial Highlights
| Consolidated 9M | Q3 | ||||
(DKKm) | 2023 | 2022 | (%) | 2023 | 2022 | (%) |
Annual Recurring Revenue (ARR - Annualized Sept MRR) | 256 | 185 | 38% | 256 | 185 | 38% |
GMV (Annualized September GMV) | 2,438 | 1,868 | 31% | 2,438 | 1,868 | 31% |
Net Revenue (9M 2022 pro forma) | 181 | 132 | 37% | 65 | 45 | 44% |
EBITDA before other extraordinary items (9M 2022 pro forma) | 16.5 | (4.1) | nm | 7.5 | 1.9 | 295% |
Accounting Net Revenue* | 181 | 96 | 89% | 65 | 45 | 44% |
*app smart consolidated from |
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1) Cash EBITDA defined as EBITDA before other extraordinary items minus capitalized R&D expenditures
** Annualized September ARR of
** 9M 2023 Net revenue of
** Q3 2023 Net Revenue of
** Annualized September GMV of
** Positive EBITDA before other external costs for 9M 2023 of
** Q3 2023 EBITDA before other external costs of
Consolidated 2023 guidance raised
Due to our strong performance in Q3 2023, consolidated 2023 guidance is changed as follows:
| 2023 Guidance | |
(DKKm) | Updated | Current |
260-270 | 250-260 | |
2,500-2,700 | 2,500-2,700 | |
Net Revenue 2023 | 230-240 | 220-235 |
EBITDA before other extraordinary items 2023 | 20-23 | 15-20 |
**
** Net revenue 2023 guidance is raised from
** EBITDA before other external costs 2023 guidance is raised from
Consolidated 2024 guidance released
| Consolidated Guidance | ||
(DKKm) | FY 2024 | FY 2023 | Growth (%)* |
Annual Recurring Revenue (Annualized December MRR) | 300-310 | 260-270 | 15% |
GMV (Annualized December GMV) | 2,800-3,000 | 2,500-2,700 | 12% |
Net Revenue | 260-270 | 230-240 | 13% |
EBITDA before other extraordinary items | 23-28 | 20-23 | 19% |
* Growth calculation based on mid of range in guidance |
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** Positive EBITDA before other external costs full-year 2024 guidance of
** 2024 EBITDA margin guidance of 9-11% vs. current raised 2023 EBITDA margin guidance of 8-10%
** Net revenue full-year 2024 guidance of
**
OrderYOYO consolidation strategy and focus on profitability
As European market leader, we keep seeing increased consolidation opportunities in our markets. Our consolidation strategy focuses on two types of acquisition targets:
- Local market leaders in European countries where OrderYOYO is currently not present to expand our European market leading position, and
- Local participants in the markets where OrderYOYO is already market leader to drive economies of scale and increased profitability for the Group
OrderYOYO has been EBITDA profitable for 15 consecutive months since
It is our goal to continue to be EBITDA profitable and our raised guidance for 2023 EBITDA of
As we continue our growth, both organically and through consolidation, economies of scale and cost control will increase EBITDA. In addition, acquisitions of local participants in markets where we are already market leader will provide the opportunity to increase profitability through cost savings and efficiency gains.
We are confident that our strategy will result in a continued expansion of our EBITDA margin in the coming years.
Video presentation
The Q3 2023 Report will be presented at an online conference call on
Register for the conference call at:
https://www.inderes.dk/videos/orderyoyo-presentation-of-q3-2023-trading-update
For additional information, please contact
OrderYOYO A/S
Mobile (+45) 21 67 84 92
Email jesper.johansen@orderyoyo.com
OrderYOYO A/S Masnedøgade 26, 2100 Copenhagen Ø
Certified Advisor
Mobile (+45) 31 79 90 00
Grant Thornton Stockholmsgade 45, 2100 Copenhagen Ø
About OrderYOYO
OrderYOYO is the market leading European online ordering, payment, and marketing software solution provider. OrderYOYO's solution is offered as Software-as-a-Service (SaaS) and enables small independent takeaway restaurants to have their own-branded online presence direct to consumers. OrderYOYO helps takeaway restaurants drive online takeaway orders through their own tailored software solution in the individual takeaway restaurant's own brand. We liberate restaurants.
https://news.cision.com/orderyoyo-a-s/r/orderyoyo-a-s-publishes-continued-strong-performance-in-q3-showing-38--arr-growth-and-strong-improve,c3855742
https://mb.cision.com/Public/20605/3855742/a2ed01d7f7ed6359.pdf
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