OrderYOYO (YOYO) Q3 2024 TU earnings summary

Executive summary

• Q3 2024 results showed strong growth in revenue, profitability, and recurring revenue, driven by an organic business strategy focused on digital solutions for restaurant partners and the acquisition of App4 in the UK to expand into the QSR chain segment.

• The company upgraded its 2024 guidance and provided a preliminary outlook for 2025, reflecting both organic growth and the impact of the App4 acquisition.

• Q3 2024 saw robust growth in key financial metrics, reflecting effective execution and market demand.

Financial highlights

• Annualized recurring revenue (AAR/ARR) grew 19% year-over-year to DKK 304 million in Q3/September 2024.

• Net revenue increased 25% year-over-year to DKK 226 million for the first nine months of 2024.

• EBITDA for the first nine months surged 126% to DKK 37.3 million, with cash EBITDA improving to DKK 17.6 million from a loss of DKK (3.4) million in 2023.

• September annualized GMV rose 14% to DKK 2.8 billion in Q3 2024.

Outlook and guidance

• 2024 guidance raised: AAR to DKK 340-350 million, net revenue above DKK 300 million, GMV to DKK 3.55-3.65 billion, EBITDA to DKK 47-52 million, and cash EBITDA to DKK 20-25 million.

• EBITDA margin guidance for 2024 increased to 15%-17%, with a long-term goal of 25%.

• 2025 preliminary outlook: AAR DKK 380-400 million (+13% YoY), net revenue DKK 360-370 million (+21% YoY), GMV DKK 3.9-4.0 billion (+10% YoY), EBITDA DKK 68-73 million (+42% YoY), cash EBITDA DKK 40-45 million (+89% YoY), EBITDA margin just under 20%.