MotorK Plc

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    Sustained Growth and Operating Leverage Drive Momentum

    Regulatory News:

    MotorK Plc (AMS: MTRK) (“MotorK” or the “Group") today announced its financial results for the nine months ended September 30, 2022 (“9M 23” or “Q3 23”), showcasing continued growth and operational efficiency. The company experienced a remarkable growth in recurring billings, a notable increase in its enterprise pipeline, and improved cost efficiency.

    9M 23 FINANCIAL HIGHLIGHTS

    • Annual Recurring Revenue (ARR)1: Q3 23 ARR reached €31.4 million, reflecting a 39% organic increase and 46% growth including M&A, compared to €21.5 million in the previous year.
    • Committed Annual Recurring Revenue (CARR)2: MotorK achieved a CARR of €35.2 million, incorporating backlog, contractual price increases, and Enterprise deals to be delivered, enhancing revenue visibility.
    • Reported Revenues3: 9M 2023 reported revenues totaled €31.1 million, marking a solid 25% increase from the prior year period.
    • SaaS Recurring Revenues: €23.2 million in SaaS recurring revenues, constituting 75% of total revenues, illustrating a strategic shift towards a recurring revenue model.
    • Recurring Billings: Adjusting for Change in Contract Assets, Recurring Billings rose to €21.9 million, a remarkable 53% increase from the previous year, demonstrating sustained demand for the Group’s services.
    • Annual Contract Value (ACV)4: Retail ACV reached €18.8k, showcasing a 14% increase from the previous year, indicating continued double-digit growth in multi-product adoption within the customer base.
    • Net Retention Revenues(NRR)5: MotorK achieved a solid Retail NRR of 113%, coupled with a low churn rate of 5.3%, reflecting the company's effective customer retention strategies. Additionally, the Enterprise segment showcased outstanding performance, achieving an impressive NRR of 149%. This remarkable accomplishment emphasizes the significant opportunities for value extraction through upselling and cross-selling initiatives within our large-scale Enterprise clients.
    • Strategic Pipeline: MotorK has made significant strides in cultivating its pipeline of opportunities, with €7.2 million in qualified leads in Retail and a remarkable €16.4 million in Enterprise at the end of September 2023. This impressive growth signifies a nearly threefold increase from the €6 million enterprise pipeline reported in H1 2023, underscoring the company’s strategic emphasis on the Enterprise segment and the substantial expansion in potential opportunities.

    With a robust pipeline in both Retail and Enterprise segments, MotorK is well-positioned for future growth. The company’s committed annual recurring revenues, qualified leads and large pipeline of opportunities provide a solid foundation for continued expansion.

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    MotorK Plc Sustained Growth and Operating Leverage Drive Momentum Regulatory News: MotorK Plc (AMS: MTRK) (“MotorK” or the “Group") today announced its financial results for the nine months ended September 30, 2022 (“9M 23” or “Q3 23”), showcasing continued growth and operational efficiency. The company …