Exasol publishes audited consolidated financial statements for 2022 and earnings for Q1 2023

- ARR 2022 as preliminarily reported at EUR 35.6 million (+17% above prior year)
- Preliminary Q1 2023 results also confirmed: ARR +15% compared to Q1 2022
- Operating result (adj. EBITDA) improves to EUR -2.2 million in Q1 2023 (Q1 2022: EUR - 3.8 million)
- Cash and cash equivalents at EUR 13.7 million as of 31.3.2023 (31.12.2022: EUR 12.7 million)
- Outlook for 2023 unchanged

Nuremberg, 10 May 2023: Die Exasol AG (ISIN DE000A0LR9G9), a global technology company and provider of a high-performance analytics database, today published its audited consolidated financial statements for 2022, confirming its preliminary results as of February 2023. According to these, the company increased its annual recurring revenue (ARR) by 17% to EUR 35.6 million (2021: EUR 30.5 million), as preliminarily reported. In the same period, revenues increased by 21% to EUR 33.2 million (2021: EUR 27.5 million), resulting in adjusted earnings before interest, taxes, depreciation and amortization (adj. EBITDA) of EUR -13.4 million (2021: EUR -31.6 million).

At the same time, the company presented its final results for the first quarter of 2023, in which it confirmed the ARR figure of EUR 35.8 million already presented in April this year (Q1 2022: EUR 31.1 million). This corresponds to an increase of 15% on a comparable prior-year basis. A particular contribution was made by the US business, which grew significantly in the first quarter of 2023.  Revenue in the first quarter of 2023 rose by 14% to EUR 8.8 million (Q1 2022: EUR 7.7 million), showing a similar development. The operating result (adj. EBITDA) improved by more than 40% to EUR -2.2 million in the same period (Q1 2022: EUR -3.8 million). Exasol is thus continuing unabated along the path of continuous efficiency improvement.

Cash and cash equivalents increased to EUR 13.7 million at the end of the first quarter of 2023 (December 31, 2022: EUR 12.7 million). Despite a one-time effect of EUR -1.9 million, the company was thus able to report a positive cash flow for the first time since the IPO in May 2020 (EUR 1 million). Adjusted by this effect, cash flow was even higher. Exasol had 196 employees worldwide as of March 31, 2023 (Dec. 31, 2022: 204).

"The results presented today show us well on track to take Exasol to profitability this year. In addition, we see our U.S. business picking up noticeably and are pleased that the region contributed significantly to our ARR growth in the first quarter”, says Jörg Tewes, CEO der Exasol AG. "This means we remain on track to achieve our full-year targets."

Outlook 2023 confirmed
Based on an increase in ARR to between EUR 42.5 million and EUR 44.0 million in fiscal 2023, the Executive Board continues to expect adj. EBITDA to improve to between EUR -3 million and EUR -1 million. In this context, the leap into the profit zone at quarterly level should already be achieved in the second half of the current financial year. Accordingly, cash and cash equivalents will be virtually unchanged year-on-year at EUR 9 million to EUR 11 million at the end of the year.

Key Data Q1 2023

* EBITDA is adjusted for effects from stock appreciation rights granted to the Executive Board and employees prior to the IPO in 2020.

Exasol AG
Christoph Marx
Head of Investor Relations
Tel: +49 911 2399 114
E-Mail: [email protected]