Company announcement no. 16-24
Copenhagen, April 12, 2024
Today, the management and Board of Directors of Shape Robotics have given their approval for the 2023 annual report. Scheduled for submission at the company's ordinary general meeting on April 29, 2024, the report signifies remarkable growth across all facets of the business compared to the previous year. The annual report is attached to this announcement and can be found also at the company's website (https://shaperobotics.com/en/investor-financial-reports/).
Management review
Throughout 2023, the company experienced significant growth and success across various key performance indicators. Revenue exceeded projections, highlighting the effectiveness of our strategic initiatives and strong market positioning.
Several adjustments made during 2023 led to improved results compared to the initial guidance, which projected revenue of DKK 130-140 million and Adjusted EBITDA of DKK 3-4 million. With revenue reaching DKK 171 million (compared to DKK 87 million in 2022) and Adjusted EBITDA totalling DKK 16.8 million (compared to DKK 5.1 million in 2022), the Management and Board of Directors express their satisfaction with the company's performance in 2023.
+-------------------+-----------+-----------+------------+
|Key Figures        |2023 (TDKK)|2022 (TDKK)|Increase (%)|
+-------------------+-----------+-----------+------------+
|Revenue            |171.213    |87.385     |96%         |
+-------------------+-----------+-----------+------------+
|Contribution margin|49.026     |26.484     |85%         |
+-------------------+-----------+-----------+------------+
|Adjusted EBITDA*   |16.859     |5.134      |229%        |
+-------------------+-----------+-----------+------------+
*Adjusted EBITDA excludes non-recurring costs (DKK 3.46 m) related to the process of listing the company on Nasdaq Copenhagen Main Market
Outlook 2024
Shape Robotics' overarching strategy integrates a mix of ongoing initiatives and fresh ventures designed to enhance core technology, broaden the product lineup, cultivate relationships with clients and partners, and expand its global footprint. With ambitious financial objectives in sight, the company targets a net revenue of 1 billion DKK by 2027, supported by an EBITDA margin ranging from 12-15%. Central to this growth trajectory are the Smart Classrooms and Thinken initiatives, both leveraging the company's proprietary Fable robot as a cornerstone component. This strategic blueprint underscores Shape Robotics' steadfast commitment to expansion and solidifying its position as a frontrunner in the market.
In 2024 the company expects a revenue of minimum DKK 300 million with EBITDA of minimum DKK 25 million (guidance for 2024).
 
Additional information and investor relations
Jeppe Frandsen, Chairman
André Fehrn, CEO
Tlf.: +45 53 51 31 31
Email: ir@shaperobotics.com
CVR-nr. 38322656
www.shaperobotics.com 
[Company Announcement]
Financial Calendar
April 29, 2024    Ordinary General Meeting
May 21, 2024     Interim Report Q1