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Konsolidator continues exponential growth

News Provided by GlobeNewswire2020-10-27

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Company announcement 20-2020

Søborg, October 27, 2020

Konsolidator continues exponential growth

Financial report for the period January 1 to September 30, 2020

HIGHLIGHTS

In the outlook for 2020 two main goals were announced: An Annual Recurring Revenue (ARR) increase higher than 2019 (71%) and an exponential growth in number of new customers on a quarter-on-quarter basis:

ARR: Konsolidator reached an ARR of DKK 6.9m at the end of Q3, 2020 compared to 3.7m at the end of Q3,2019 – an increase of 86%.
Customers: Konsolidator signed 48 contracts for the first nine months of 2020 compared to 21 customers signed in the first 9 months of 2019 - an increase of 129%.
Customers: For Q3 Konsolidator signed 15 contracts compared to 6 for Q3 in 2019 - an increase of 150%.
Konsolidator Kommunity^® - a collaboration tool - was launched in August 2020 making it possible to share reports, apps and other relevant content with customers to get an even closer collaboration.

MANAGEMENT REVIEW

The Konsolidator platform has reached a higher level in Q3 with the Konsolidator Kommunity^®. Konsolidator Kommunity^® is a collaboration tool within Konsolidator that enables Konsolidator to share value-added tools and apps to customers. Konsolidator Kommunity^® is another example of how cloud technology can bring software closer to customers and make Konsolidator not only a software provider but also a trusted business partner for customers.

As per September 30, 2020 Konsolidator has 129 customers and signed 15 in Q3, 2020 of which 12 are outside Denmark equal to 80%.

Economic growth

Konsolidator reached an ARR of DKK 6.9m September 30, 2020 (September 30, 2019: 3.7m) which is an increase of 86%. The ARR has increased by DKK 2.3m in 2020 compared to an increase of DKK 1.0m in 2019.

Revenue for the period amounted to DKK 4.8m compared to DKK 3.4m in 2019 corresponding to an increase of 39%.

Earnings before interest, tax, depreciation and amortization (EBITDA) amounted to a negative of DKK 9.8m compared to 2019 which showed a negative EBITDA of DKK 6.5m.

Organizational growth

During the first nine months of 2020 Konsolidator hired 7 new employees. Konsolidator has 26 employees as of September 30, 2020.

About Konsolidator

Konsolidator A/S is a financial consolidation software company whose primary objective is to make Group CFOs around the world better through automated financial consolidation and reporting in the cloud. Created by CFOs and auditors and powered by innovative technology, Konsolidator removes the complexity of financial consolidation and enables the CFO to save time and gain actionable insights based on key performance data to become a vital part of strategic decision-making.

For further information: CEO Claus Finderup Grove, mobile. +45 2095 2988, e-mail: cfg@konsolidator.com

Konsolidator A/S
Tobaksvejen 2 A
2860 Søborg
www.konsolidator.com

Certified Adviser
Ernst & Young P/S
Dirch Passers Alle 36
2000 Frederiksberg
www.ey.com

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