EQS-News

Exasol publishes audited consolidated financial statements for 2023 and result for Q1 2024 - Seite 2

As previously reported, cash and cash equivalents increased to EUR 20.7 million at the end of the first quarter of 2024 (December 31, 2023: EUR 13.3 million). Adjusted for extraordinary effects** net cash flow thus amounted to EUR 7.8 million in the first quarter and more than doubled compared to the same period of the previous year (Q1 2023: EUR 2.9 million, like-for-like).

“The results presented today show that we are well on track to lead Exasol into the profit zone for the full year,” explains Jörg Tewes, CEO of Exasol AG. “In addition, we see a good development of our sales pipeline, which will lead to an increase in ARR in the second half of the year again. We are therefore confident to achieve our annual targets.”

Outlook for 2024 confirmed

For the 2024 financial year, Exasol expects ARR to increase by up to 10% compared to the previous year. The increased churn rate in 2023 is expected to 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 growth initiatives launched at the end of 2023 are expected to take effect and lead to a return to positive ARR development.  Exasol expects consolidated revenue to increase by 10 - 15%, with a positive operating result (EBITDA) that will be significantly higher than in the previous year. Cash and cash equivalents are expected to remain stable at over EUR 10 million at the end of 2024 compared to the previous year.

Key figures Q1 2024

(in m€)	Q1 2024	Q1 2023	Change
ARR (as of 31.3.)	40.7	35.0	+16.0%
Revenue	9.9	8.8	+12.5%
EBITDA	0.3	-2.2	n/a
	31.3.2024	31.12.2023
Liquid funds	20.7	13.3	+55.6%