OrderYOYO (YOYO) Q2 2024 TU earnings summary

Executive summary

• Achieved 23% year-over-year ARR growth to DKK 302 million, surpassing DKK 300 million for the first time.

• Net revenue for H1 2024 grew 28% to DKK 148 million in a flat market.

• GMV increased 26% year-over-year to DKK 2.9 billion.

• Consistent profitability achieved, with H1 2024 EBITDA of DKK 22.8 million, up 153% from H1 2023 and a margin over 15%.

• Profitability exceeded expectations, leading to raised 2024 guidance for revenue and EBITDA, while the business remains self-sustaining and has secured a debt facility for future M&A.

Financial highlights

• ARR reached DKK 302 million at end of Q2 2024, up from DKK 246 million in Q2 2023.

• Net revenue for H1 2024 was DKK 148 million, up from DKK 116 million in H1 2023.

• GMV for H1 2024 was DKK 2.9 billion, up from DKK 2.3 billion in H1 2023.

• H1 2024 EBITDA before extraordinary items reached DKK 22.8 million, up 153% from H1 2023.

• H1 2024 cash EBITDA was DKK 10 million, a DKK 15 million improvement from H1 2023.

Outlook and guidance

• 2024 net revenue guidance raised to DKK 290–300 million (from DKK 280–290 million).

• 2024 EBITDA guidance raised to DKK 45–50 million (margin 16–17%), up from DKK 43–48 million.

• 2024 cash EBITDA guidance increased to DKK 17–22 million.

• ARR and GMV guidance for 2024 remain unchanged.

• Long-term EBITDA margin target set at 25%.