Impero (IMPERO) Q2 2024 earnings summary

Executive summary

• Achieved 28% year-on-year ARR growth and 29% revenue growth in H1 2024, marking the best H1 performance to date.

• EBITDA improved to negative DKK 5.1M from negative DKK 6.8M in H1 2023, with lower cash-burn from operations.

• Expanded customer base to 170, including significant wins in Germany and the first customer in Belgium.

• Over 50% of new ARR growth came from the DACH region, with 57% of new ARR generated via partner channels.

• Ended H1 2024 with a solid cash position of DKK 15.3M and sufficient funding for ongoing investments.

Financial highlights

• Revenue for H1 2024: DKK 16.6M, up 29% year-over-year.

• ARR at end of H1 2024: DKK 35.4M, up from DKK 27.6M at end of H1 2023.

• Gross margin improved to 96% from 95% in H1 2023.

• Operating loss (EBIT) for H1 2024: negative DKK 6.5M, improved from negative DKK 8.0M in H1 2023.

• Free cash flow for the 12 months ending H1 2024: negative DKK 9.0M, with a cash-to-acquired ARR ratio of -1.2, improved from -1.6 at end 2023.

Outlook and guidance

• Maintains 2024 guidance: ARR between DKK 38M and 42M, EBITDA between DKK -11M and -9M.

• Expects ARR growth of 25% to 38% for the full year.

• Focus remains on scaling the organization and improving the cash-burn to net-new ARR ratio.

• Outlook depends on stable macroeconomic and geopolitical conditions and continued partner and talent acquisition.