EXASOL AG / DE000A0LR9G9

Nuremberg, Oktober 30, 2023: Exasol AG has increased its Annualized Recurring Revenue (ARR) to EUR 37.0 million at the end of the third quarter, based on unaudited preliminary results as of September 30, 2023 (September 30, 2022: EUR 33.5 million). This constitutes a growth of 10% compared to previous year's level at the same time of the year. This result does not yet take into account some significant contract upsells with existing customers, which were only closed just after the end of the quarter - including a contract extension and expansion with the leading German e-commerce retailer Otto Group, a long-standing Exasol customer. As of October 27, 2023, the ARR therefore had already further increased to a total of EUR 38.3 million (+14% year-on-year). As was expected, this constituted a meaningful growth acceleration compared to the first half of the year. Adjusted operating profit (adj. EBITDA) improved to EUR -4.1 million in the period January to September 2023, following a loss of EUR 8.7 million in the prior-year period. Cash and cash equivalents stood at EUR 14.7 million as of Sept. 30, 2023. This reduced the operating cash outflow after nine months to EUR -4.8 million (9M 2022: EUR -10.3 million). Despite the pick-up in ARR momentum in the third quarter and the positive year-on-year development in earnings, expectations for business performance at the beginning of the year were higher. Main driver for the deviation is a lower than expected development in the EMEA North (UK) region, while DACH and North America regions developed largely according to plan. Against this background, the Executive Board no longer considers the financial targets for fiscal year 2023 to be realistic and is adjusting the forecast for the financial year. The company now expects an ARR of EUR 40.0 to 42.0 million at the end of the year (previously: EUR 42.5 to 44.0 million; Dec. 31, 2022: EUR 35.3 million). Based on the reduced growth expectation and due to later contract signings in 2023, the Executive Board expects an adj. EBITDA of EUR -5.5 to -4.5 million for the full year (previously: EUR -3 to -1 million; 2022: EUR -13.4 million). The break-even in adj. EBITDA, originally expected for the fourth quarter, will therefore likely be missed. Cash and cash equivalents at the end of the year are expected to be at EUR 11.0 to 13.0 million (previously: EUR 15.8 to 17.8 million). Final third quarter figures will be published on November 14, 2023.

  Investor Relations contact Christoph Marx
Head of Investor Relations
Tel: +49 911 2399 114
E-Mail: IR@exasol.com