fbpx

OrderYOYO – H1 2022 and upgraded guidance

Facebook
Twitter
LinkedIn
Kasper Lihn

Kasper Lihn

OrderYOYO – full-year ARR and revenue guidance are upgraded following good progress in the merger with app smart

This morning, OrderYOYO released its H1 2022 results. The end of June ARR numbers shows that app smart is growing approx. 47% YoY, and OrderYOYO is growing approx. 1% YoY. Consolidated numbers (OrderYOYO and app smart) correspond to proforma ARR growth of 14% YoY.

Read the full report here: https://lnkd.in/eV5r42kk

OrderYOYO has also included its July numbers – the company’s first month of the consolidation with German app smart. The July numbers show an ARR of DKK 177.1m, which is a growth of 14% compared to restated proforma numbers in July 2021. ARR guidance by the end of 2022 is upgraded to DKK 180-195m (previously 175-190m).

OrderYOYO’s stand-alone revenue showed a decline of 4.5% compared to H1 2021, however, H1 2021 was positively affected by COVID-related close downs. Using consolidated numbers (proforma OrderYOYO and app smart), net revenue was DKK 87.3m in H1 2022 (6% growth YoY), implying that growth was primarily driven by app smart. Full-year revenue guidance is upgraded to DKK 140-155m (previously DKK 135-150m).

Looking at gross merchandise value (GMV) end of June (annualized), consolidated numbers show a 2% increase YoY, mainly driven by a positive development in app smart. In July 2022, the total growth was 6% YoY. OrderYOYO maintains its 2022 GMV guidance of DKK 2,050-2,200m in December 2022 (annualized).   

With consolidated numbers, OrderYOYO is also close to break even on the EBITDA level in July, highlighting the company’s focus on profitability and the road to profitability through size. This confirms the strategy, focusing more on growth through consolidation. Looking at OrderYOYO’s stand-alone H1 2022, the EBITDA before other external costs shows a negative result of DKK -6.0m (positive DKK 3.7m in H1 2021). This reflects increased investments in restaurant partners. The difference to the realized EBITDA of DKK -16.2m is primarily related to non-recurring merger costs. Full-year EBITDA guidance of between DKK -10m to DKK 0 is maintained.

You can meet and ask questions to OrderYOYO’s management, who will present the report at 1:00 PM. If you have any questions to the management before the event, you can send them to michaelfriis@hcandersencapital.dk. Subscribe to the event directly at the following link: https://lnkd.in/e7Jz_Vpw

Disclaimer: HC Andersen Capital receives payment from OrderYOYO for a DigitalIR agreement. /Kasper Lihn 10:00 AM 22/08/2022.