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| Land | Danmark |
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| Sektor | Informationsteknik |
| Industri | Programvara |
12.4.2022 11:07:48 CEST | Digizuite A/S | Company Announcement
Digizuite can now look back at Q1 and make status. Four new customers have been added to the portfolio and several existing customers have expanded their solutions. The company entered 2022 with a strengthened organization and a significantly improved pipeline due to investments made in both sales and marketing. The result is a record-high order intake for ARR (Annual Recurring Revenue) in the first quarter and the company is following its strategy and growth plan.
An optimized sales process in EMEA has proven successful for Digizuite and has led to three new customers, including PWT and Sennheiser which the company previously has announced. In addition, one of the biggest privately owned house-building companies in North America chose Digizuite as their future DAM vendor. Due to the order size of the North American customer, the overall ARR for new customers is evenly distributed between the regions. All new customers in Q1 2022 have been won in cooperation with our partners. Three of the cases are won with new partners.
Q1 was also the quarter in which Digizuite achieved an improved position in The Forrester Wave™ 2022 for Digital Asset Management for Customer Experience (DAM), and was recognized by Forrester as a ”Strong Performer”.
“The company is experiencing a positive development because of the investments made in the market, the organization, and the product. With positive development in the pipeline and a strong team, we have laid a solid foundation for accelerated future growth. Expanding and activating the partner channel is an important path to the market and in scaling the business, it is therefore very positive and a sign that our investments in the partner channel are bearing fruit. The good start of the year gives our motivation a boost and shows that we are well on our way to building a successful international company”, says Kim Wolters, CEO.
Financial key numbers (ARR - Q1 2022 attached)
- ARR increased with MDKK 2,0 in Q1 2021 compared to MDKK 1,0 in Q1 2020, an improvement of 100%. The growth of 6% for Q1 2022 is a direct result of an improved pipeline based on investments made in marketing.
- ARR from new customers is increased with MDKK 1,1 in Q1, an improvement of 267% compared to MDKK 0,3 in the same period the year before.
- Net revenue retention for the quarter is 103% due to upselling to existing customers of MDKK 0,9 and a churn of 0%. The company goal is to maintain an NRR of +100% to ensure a long-term and profitable subscription revenue.
Guidance for the year
In connection with Digizuite's company announcement back in January, the management presented an expectation that growth should be accelerated to an ARR of DKK 40-45 million in 2022. The company is following the plan and there are no changes to the company's guidance. In 2022, Digizuite continues to invest in long-term ARR growth and expects to pursue its growth ambitions in line with the announced strategy of the IPO in May 2021. Therefore, Digizuite strives to realize an ARR growth of 25-40% for 2022. Meeting growth targets depends on the company's ability to acquire new customers across industries and key markets, as well as maintain a low churn.
Disclosure regulation
This announcement is a translation of the original Danish version.
In case of discrepancies, the Danish version prevails.
Contacts
- John Norden, Certified Adviser, Norden CEF A/S, +45 20 72 02 00, jn@nordencef.dk
- Kim Wolters, CEO, +45 20 60 97 37, kw@digizuite.com
- Oliver Bottelet, CFO, +45 61 69 66 52, ob@digizuite.com
- Søren Skovbølling, Chairman of the Board, +45 25 31 07 20, ssk@digizuite.com
About Digizuite A/S
Digizuite is a SaaS company in Digital Asset Management software (DAM) that streamlines all digital content in one central platform. Through automated workflows and agile integrations, Digizuite removes manual workflows and streamlines the entire content value chain. Customers choose Digizuite to have control over who, where, and how corporate materials are used. It ensures brand control, risk reduction and helps to increase efficiency and revenue.
Digizuite is a global company that has realized 600% growth in ARR between 2017 and 2020. Today, the company has more than 70 employees between its headquarters in Denmark and its subsidiaries in the United States, United Kingdom, Belgium, and Ukraine.