This morning, Valuer.ai reported its financial results for H1 2021/2022, covering the period 1 July 2021 to 31 December 2021.
ARR declined from DKK 4.7 million to DKK 4.0 million due to churn of larger customers, despite also adding 9 new customers. ARR guidance at the end of the financial year ending June 2022 has been revised downward from DKK 15-17 million to DKK 6-8 million, because Valuer has faced delays in the partnership channels, and revenue development within some customer segments has been slower than expected.
However, management today highlighted an increased number of subscriptions through current distribution partners as well as an increased number of leads in the pipeline. This is primarily driven by the company’s launch of new product features and subscription models in September 2021. The ARR per customer is in the interval between DKK 45,000 to DKK 700,000 depending on the users of each customer. The average ARR of some of the new customers has been DKK 285,000.
New customers are primarily international customers, including Cisco. In total, Valuer has 16 customers (12 international customers and 4 Danish customers).
Valuer’s EBITDA was DKK -16.6 million in H1 2021/2022, and the company’s monthly average cash burn was DKK 3.2m (DKK 2.9m excluding one-off costs). Costs are not expected to increase significantly according to the management. Cash and cash equivalents were DKK 53 million at the end of December 2021.
*A new presentation has been recorded due to a bad internet connection on the live session earlier today.
HC Andersen Capital receives payment from Valuer for a Digital IR/Corporate Visibility subscription agreement. /Kasper Lihn 2:55 PM 28-02-2022.