Slide 1: Interim report Q1 2023
Interim report Q1 2023 26 May2023
Slide 2: Contents
Contents 1 Introduction to Albert 2 Q1 2023 highlights 3 Acquisitions 4 Q1 financials 5 Summary 6 Q&A
Slide 3: Today's speakers
Introduction to Albert Today’s speakers Arta Mandegari Salman Eskandari Martin Dahlgren CEO / Co-founder Dep CEO / Co-founder Head of Finance • Serial entrepreneur, • Management consulting • 7 years experience from previous Co-founder of background from finance and accounting, Tesenso, Qvido and Tri
Slide 4: Our vision is to give every child in Europe a custom learning experience
Introduction to Albert Our vision is to give every child in Europe a custom learning experience 4
Slide 5: Started with math, moving into a one-stop-shop for kids' learning
Introduction to Albert Started with math, moving into a one-stop-shop for kids’ learning Albert at a glance Albert is a leading app-based EdTech Leading 213 msek 116 msek platform for children 1-16 years old with a vision to give every child in Europe a custom learning experience Nordic EdTech Group
Slide 6: Contents
Contents 1 Introduction to Albert 2 Q1 2023 highlights 3 Acquisitions 4 Q1 financials 5 Summary 6 Q&A
Slide 7: Summarizing Q1 and following up on previous communication
Summary Summarizing Q1 and following up on previous communication Profitability, synergies and laser focus on cash flow has been key • Q4’22 communication: Reach profitability with cash at hand → Q1’23: EBITA improvement om 45% (adj. 69%) • Q4’22 communication: Stronger financial profile through B2B
Slide 8: Contents
Contents 1 Introduction to Albert 2 Q4 and 2022 highlights 3 Acquisitions 4 Q4 financials 5 Summary 6 Q&A
Slide 9: Overview of acquisitions Q1'23
Acquisitions Overview of acquisitions Q1’23 Albert brands Target ages Geogr. footprint Existing brands ▪ Offers customised learning to children within a wide variety of subjects 5-16 B2C ▪ Offers 800+ movies, books, songs and games to children 1-5 B2C ▪ Offers personalised games for children within
Slide 10: Rationale behind the acquisitions
Acquisitions Rationale behind the acquisitions Ecosystem benefits ▪ Fragmented global market with no clear leader ▪ Large number of companies with niche offerings (e.g. subjects and teaching medias) targeting students in varying ages – opportunity to consolidate offerings and build a one-stop-shop c
Slide 11: Approximately 50/50 net sales contribution from B2B vs B2C
Acquisitions Approximately 50/50 net sales contribution from B2B vs B2C Albert B2C Albert B2B Student Share of Net Sales 56% 44% Parents Teacher • Customised learning to children within a wide variety of subjects • Personalised educational games for children within mathematics, Offering and 800+ mov
Slide 12: Contents
Contents 1 Introduction to Albert 2 Q1 2023 highlights 3 Acquisitions 4 Q1 financials 5 Summary 6 Q&A
Slide 13: Annual Recurring Revenue – Complemented by B2B
Q1 financials Annual Recurring Revenue – Complemented by B2B ARR - Total ARR - MSEK +84% Comments on Q1 2023 • Growth primarily driven by acquisitions on B2B • Trend shift in Sumdog, growth QoQ • Decreased risk in revenue fluctuations due to increased share of B2B 213 152 155 131 116 81 90 69 47 38
Slide 14: Net sales – Accelerated growth YoY
Q1 financials Net sales – Accelerated growth YoY Net sales, Quarter - MSEK Comments on Q1 2023 Net sales - Organic Net sales - Acquired • Growth in net sales reached 93% in Q1 2023 compared to Q1 2022, whereof 15 % 50 +93% organic 45 40 19,2 35 • Growth primarily driven by acquisitions in 30 10,3 11
Slide 15: Overview of financials
Q1 financials Overview of financials Comments on Q1 2023 • Growth in net sales reached 93% in Q1 YoY growth 2023 compared to Q1 2022 SEKm Q1-2023 Q1-2022 2022-23 Financial metrics • Decrease in adj. gross margin due to new Q1-Q1 service mix but more stable net sales Net sales 47.5 24.6 93% • Improve
Slide 16: Drilled down in key financial figures
Q1 financials Drilled down in key financial figures SEKm Q1-2023 Q1-2022 Comments on Q1 2023 Financial metrics • Increase of R&D expenses. Focus during quarter to Operating result (22.5) (25.1) continue the development of our subjects as well as increase self-developed content in our products Amorti
Slide 17: Contents
Contents 1 Introduction to Albert 2 Q1 2023 highlights 3 Acquisitions 4 Q1 financials 5 Summary 6 Q&A
Slide 18: Takeaways
Summary Takeaways Solid quarter with significant steps taken towards profitability and financial goals B2B Acquisitions are through their invoice seasonality contributing with positive cash flow to the group Integrations are going well. A lot thanks to our new Managament Jonas Mårtensson and Anne- L
Slide 19: Contents
Contents 1 Introduction to Albert 2 Q3 2023 highlights 3 Acquisitions 4 Q1 financials 5 Summary 6 Q&A
Slide 20: Q&A
Q&A