Carasent Ab · OMXSTO:CARA
Carasent Ab — Q2 2023 Earnings Presentation
16 slides from Carasent Ab's earnings presentation, Jul 14, 2023
Slide 1: Interim report Q2 2023
Interim report Q2 2023 14 July 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 Q2 highlights 2 Business and market update 3 Financial review
Slide 4: Q2 Highlights
€3 CARASENT Q2 Highlights
Slide 5: Q2 2023 Summary
Q2 2023 Summary 1 2 Revenue growth of Organic growth of 36% YoY 17% YoY 3 4 Cost savings program 31 clinics signed for completed successfully Webdoc in Sweden 5 Strong balance sheet with cash position of NOK 655 million
Slide 6: Business and market update
€3 CARASENT Business and market update
Slide 7: Consistent track-record of growth
Consistent track-record of growth ✓ Adj. EBITDA margin Adj. EBITDAC margin1 LTM revenue ✓ ✓ 63 60 57 ✓ 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% 13% 8% 12% 7% 9% 7% -6% -10% -12% -18% -18% -28% -30% Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1
Slide 8: Increased growth
Increased growth Improved Outreach ”We´re back” Backlog deliveries selling (average 4,5) Development General New segments of marketing improvements
Slide 9: Cost cutting program
Cost cutting program ▪ Cost cutting program initiated and completed in the quarter, saving approximately 40 MNOK on an annual basis. One off costs of 4.2 MNOK in the quarter. ▪ Almost all of the savings are from fewer employees and consultants (32 FTE). All staff which are leaving as a result of the
Slide 10: Financial Review
€3 CARASENT Financial Review
Slide 11: Q2 2023 Financial summary
Q2 2023 Financial summary 1 2 3 Revenue growth of Organic growth of Organic recurring 36% YoY 17% YoY revenue growth of 14% YoY 4 5 6 Net retention rate of Adjusted EBITDA ARR of NOK 221m as 108% in Q2 margins of 9% in Q2 per Jun-23 Note: Organic growth rates are presented with constant currency rat
Slide 12: Strong revenue growth – recurring revenues around 90% of total
Strong revenue growth – recurring revenues around 90% of total Revenue development (NOKm) Key highlights Recurring revenues Consulting & other ▪ Sticky revenue base with recurring 63 60 57 revenues around 90% of total 47 47 revenues ▪ Organic growth was higher than 54 56 49 42 43 previous quarters b
Slide 13: Organic recurring revenue growth of 14% in Q2 YoY
Organic recurring revenue growth of 14% in Q2 YoY 1 Existing customer base New customers ▪ Net retention rate of 108% compared to Q2 2022 ▪ New customer growth of 6% Q2 YoY ▪ High stickiness and low churn rates maintained ▪ Strong market positions ▪ Strong potential remains for upsell ▪ Several meas
Slide 14: Cost savings program completed during Q2 – full effect not reflected in figures
Cost savings program completed during Q2 – full effect not reflected in figures Cash cost base Q1 2023 vs. Q2 2023 Comments ▪ Cash cost NOK 4 million lower in Q2 -4m compared to Q1 (6 million at constant 78 currency) 74 12 11 ▪ Cost savings program completed with estimated savings of ~40m per year 2
Slide 15: Profitability and cash flow starting to improve
Profitability and cash flow starting to improve Adjusted EBITDA development Capitalized development Adjusted cash EBITDA1 13 5 6 Q2-22 Q1-23 Q2-23 -9 -11 8% 9% -17 -18 -22 -23 Q2-22 Q1-23 Q2-23 Q2-22 Q1-23 Q2-23 X% Share of revenue Existing markets New initiatives 1: Adjusted EBITDA less capitalized
Slide 16: Q&A
Q&A fb 5 CARASENT GP