Carasent Ab · OMXSTO:CARA
Carasent Ab — Q3 2023 Earnings Presentation
15 slides from Carasent Ab's earnings presentation, Oct 26, 2023
Slide 1: Interim report Q3 2023
Interim report Q3 2023 26 October 2023
Slide 2: Disclaimer
Disclaimer Certain statements made in this Presentation may include forward-looking statements. These statements relate to the Company’s expectations, beliefs, intentions or strategies regarding the future. The forward-looking statements reflect the Company’s current views and assumptions with respe
Slide 3: Agenda
Agenda 1 Q3 highlights 2 Business and market update 3 Financial review
Slide 4: Q3 Highlights
€3 CARASENT Q3 Highlights
Slide 5: Q3 2023 Summary
Q3 2023 Summary 1 2 Revenue growth of Organic growth of 7% 17% YoY YoY 3 4 Distribution of NOK 250 28 clinics signed for million through share Webdoc in Sweden buyback and cash 5 Share buyback completed in Q3
Slide 6: Business and market update
€3 CARASENT Business and market update
Slide 7: Cost savings continues to improve profitability
Cost savings continues to improve profitability Adj. EBITDA margin Adj. EBITDAC margin1 Revenue 63 60 57 56 47 47 45 40 37 32 28 20 17 18 16 36% 31% 40% 28% 33% 27% 23% 34% 15% 35% 31% 36% 8% 9% 18% 12% 8% 9% 7% 13% 8% 7% -6% -10% -12% -11% -18% -18% -28% -30% Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-
Slide 8: Focus now
Focus now ▪ Sales ▪ In general focus on increasing sales through improving established products and new sales and marketing strategies ▪ Our new nimble organization will allow us to speed up in Norway ▪ No focus on consultancy revenue nor selling licenses ▪ Grow into our costs ▪ Additional savings b
Slide 9: Financial Review
€3 CARASENT Financial Review
Slide 10: Q3 2023 Financial summary
Q3 2023 Financial summary 1 2 3 Revenue growth of Organic growth of 7% Organic recurring 17% YoY YoY revenue growth of 13% YoY 4 5 6 Net retention rate of Adjusted EBITDA ARR of NOK 222m as 108% in Q3 margins of 8% in Q2 per Sep-23 Note: Organic growth rates are presented with constant currency rate
Slide 11: Recurring revenue growth at 13% – slow quarter for consulting revenues
Recurring revenue growth at 13% – slow quarter for consulting revenues Revenue development (NOKm) Key highlights Recurring revenues Consulting & other ▪ Sticky revenue base with recurring 63 60 57 56 revenues around 95% in Q3 47 47 ▪ Currency effect of NOK (2.5m) compared to Q2 2023 54 56 53 49 42 4
Slide 12: Organic recurring revenue growth of 13% in Q3 YoY
Organic recurring revenue growth of 13% in Q3 YoY 1 Existing customer base New customers ▪ Net retention rate of 108% compared to Q3 2022 ▪ New customer growth of 5% Q3 YoY ▪ High stickiness and low churn rates maintained ▪ Strong market positions ▪ Strong potential remains for upsell ▪ Several meas
Slide 13: Cash cost reduction of NOK 15 million compared to Q1 2023
Cash cost reduction of NOK 15 million compared to Q1 2023 Cash cost base development 2023 Comments ▪ Cash cost NOK 15 million lower in Q2 -15m compared to Q1 78 74 ▪ Decrease partly driven by holiday 12 11 63 effects and currency 11 23 17 ▪ Cost savings with estimated savings 11 of ~40m per year 43
Slide 14: Profitability and cash flow starting to improve
Profitability and cash flow starting to improve Adjusted EBITDA development Capitalized development Adjusted EBITDA - capex1 11 6 5 5 Q3-22 Q1-23 Q2-23 Q3-23 -6 -6 -11 -11 8% 9% 8% -17 -17 -18 -23 Q3-22 Q1-23 Q2-23 Q3-23 Q3-22 Q1-23 Q2-23 Q3-23 X% Share of revenue Existing markets New initiatives (W
Slide 15: Q&A
Q&A fb 5 CARASENT GP