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Exasol announces preliminary figures for the first quarter 2024: Positive operating result for the first time since IPO - net cash flow more than doubled - Seite 2

Cash and cash equivalents amounted to EUR 20.7 million at the end of the first quarter (December 31, 2023: EUR 13.3 million). Exasol thus recorded a positive net cash flow of EUR 7.4 million in the first three months, which more than doubled compared to the same period of the previous year (Q1 2023: EUR 2.9 million, like-for-like). This is due to the traditionally high level of incoming payments from customers with fixed-term contracts at the beginning of the year, which increased significantly in the reporting period due to the strong fourth quarter of 2023.

"Achieving profitability is a very important milestone in the realignment of Exasol over the past two years. We want to build on this in the coming quarters and continue to grow profitably as revenue increases," explains Jörg Tewes, CEO of Exasol. "The strategic initiatives we launched last year will contribute to a positive ARR development in the second half of this year. Together with the improved profitability, we remain optimistic for this year."

Outlook for the 2024 financial year confirmed
For the 2024 financial year, Exasol expects the ARR to increase by up to 10 % compared to the previous year. The increased churn rate in 2023 will have a negative impact on ARR development, particularly in the first half of the year. This is due to the continuing challenging economic situation in the EMEA region and the associated cuts in IT budgets at some larger customers. In the second half of 2024, the unfolding project pipeline from market initiatives launched in Q4 2023 will lead to a positive ARR development again. Exasol expects consolidated revenue to increase by 10 – 15 %, with a positive operating result (EBITDA) that will therefore be significantly higher than in the previous year. Cash and cash equivalents are expected to remain at over EUR 10 million at the end of 2024 and therefore be stable compared to the previous year.

The full figures for the first quarter of 2024 will be published on May 7, 2024.
 

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18.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.