Impero (IMPERO) Q4 2024 earnings summary

Executive summary

• Achieved 28% year-over-year ARR growth to DKK 38.7M, within outlook range, and improved EBITDA to DKK -8.7M from DKK -10.6M in 2023.

• Expanded international presence, with 56% of ARR from outside Denmark and 34 new customers, half from DACH region.

• Maintained low churn at 2% and strong upsell momentum, with 10% uplift from existing customers.

• Enhanced product with new compliance features, renewed TISAX certification, and invested in AI-driven compliance automation.

• Ended 2024 with DKK 9.8M in cash and sufficient funding for continued growth.

Financial highlights

• Revenue increased by 28% to DKK 35.4M compared to 2023, driven by subscription and implementation fees.

• EBITDA improved to DKK -8.7M from DKK -10.6M in 2023; EBIT at DKK -11.7M, up from DKK -13.1M.

• Cash burn to net new ARR ratio improved to 0.9 from 1.6 year-over-year.

• Gross margin reached 97%, up from 96% in 2023.

• Cash and cash equivalents at year-end were DKK 9.8M, down from DKK 14.9M in 2023.

Outlook and guidance

• 2025 ARR expected between DKK 46M and 52M, reflecting 19% to 34% growth.

• 2025 EBITDA guidance in the range of DKK -10M to -8M, with continued investment in scaling.

• Strategic goal to double customer base and achieve recurring cash flow positivity before end of 2026.