Konsolidator Realized 29% Growth in Annual Recurring Revenue in 2022
Konsolidator realized 29% growth in Annual Recurring Revenue in 2022
Konsolidator A/S continued the strong development in Q4 2022 both in Denmark and internationally, including a record-high December with 14 new customers. In line with expectations, Konsolidator realized 29% Annual Recurring Revenue (ARR) growth in 2022.
In Q4 2022, Konsolidator experienced a high demand for the company’s financial consolidation software in Sweden and UK. Of the total growth in Q4 at 1.0 million, UK accounted for 0.4 million, which is an all-time high for the UK in a quarter. Konsolidator achieved an Annual Recurring Revenue (ARR) of DKK 17.6 million, corresponding to a growth of 29% in 2022 (2021: DKK 13.6 million) which is in line with announced expectations of 25-30%.
Revenue increased to DKK 16.7 million in 2022, (2021: DKK 13 million) which is in line with expectations of DKK 16-18 million.
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Claus Grove Finderup, CEO at Konsolidator comments:
2022 has been a challenging year in which we have adjusted the costs as announced in a previous company announcement. This has resulted in us closing our offices in the UK and Sweden as well as downscaling the organization. With this in mind we are satisfied with a growth of 29% in ARR. I am happy to see that the growth in particularly the UK and Sweden has continued, even though we have centralized our sales resources in Copenhagen.
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The Annual Report for 2022 will be released on February 8, 2023.
Konsolidator A/S is a financial consolidation software company whose primary objective is to make Group CFOs around the world better through automated financial consolidation and reporting in the cloud. Created by CFOs and auditors and powered by innovative technology, Konsolidator removes the complexity of financial consolidation and enables the CFO to save time and gain actionable insights based on key performance data to become a vital part of strategic decision-making.
