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 2,912 million.

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

• Business is self-sustaining, with a new debt facility secured for future M&A and a warrant program for long-term employee retention.

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 2,912 million, up from DKK 2,300 million in H1 2023.

• H1 2024 EBITDA grew 153% year-over-year to DKK 22.8 million.

• H1 2024 cash EBITDA improved from -DKK 4.8 million to DKK 10.0 million.

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%.