“To secure future growth, we have invested in both product development and our newly formed subsidiaries. The growth in revenue during the quarter was partly a result of the large investments that we have made in the subsidiaries in North America and Benelux," said Olof Hedin, SignUp Software CEO.
DOVER, Del. (PRWEB) February 28, 2023
SignUp Software, a premiere AP Invoice Automation Solution for Microsoft Dynamics 365, announced its full-year financial ended December 2022.
“SignUp started its journey as a listed company during Q4´21 and when we now summarize Q4´22 SignUp has grown ARR beyond SEK 250m and 30% over the last 12 months,” said Olof Hedin, Sign Up Software CEO. “To secure future growth, we have invested in both product development and our newly formed subsidiaries. The growth in revenue during the quarter was partly a result of the large investments that we have made in the subsidiaries in North America and Benelux. During Q4 we also formed a new subsidiary in the UK, which will strengthen our position in the UK and contribute to further growth.”
October - December 2022
- Annual recurring revenue (ARR) grew by SEK 8.9m, 3.7%, from the end of Q3 2022.
- At the end of Q4, ARR amounted to SEK 250.1m (192.4).
- Net sales for the period amounted to SEK 67.7m (52.6) which correspond to a growth of 28.7% compared to Q4 2021.
- EBITA amounted to SEK 3.4m (6.1), a margin of 5.0% (11.6) of net sales.
- Net Profit SEK -1.1m (2.1).
- Earnings per share SEK -0.05.
- Earnings per share after dilution SEK -0.05.
January – December 2022
- Annual recurring revenue (ARR) grew by SEK 57.7m, 30.0%, from the end of Q4 2021.
- Net sales for the period amounted to SEK 244.9m (186.5) which correspond to a growth of 31.3% compared to the same period last year.
- EBITA amounted to SEK 21.5m (32.7), a margin of 8.8% (17.5) of net sales.
- Net Profit SEK 8.7m (18.1).
- Earnings per share SEK 0.36.
- Earnings per share after dilution SEK 0.36.
- Proposed dividend of SEK 0.25 (0.0) per share.
CEO’s comments
The investments made have adversely impacted the EBITA, which was SEK 3.4m (6.1) during the quarter. However, looking back on the year we have delivered on being a “Rule of 40” company while making necessary investments in marketing and new personnel to support continued organic growth in the years to come. We are also still actively looking for potential acquisition targets and during the year we have had advanced discussions with two potential objects, but neither fulfilled our high requirements so we will continue looking for targets that will create value for the group and our shareholders.
Finally, I am happy that we participated in two major Microsoft events during the quarter, Convergence in Orlando and Directions in Hamburg, both held for the first time in three years, giving great opportunities to meet customers and partners.
About SignUp Software
SignUp is a profitable growing software company that offers a comprehensive solution, ExFlow, for accounts payable automation built into Microsoft's Dynamics ERP. The Company has established itself as a global player with a number of large companies as customers and several partnerships. SignUp was founded in 1999 and is headquartered in Solna, Sweden with additional offices in Denmark, Australia, U.K., Singapore, Canada, the Netherlands and the USA.
For complete report: signup-software-ab-publ-q4-2022.pdf(mfn.se)
For more information about SignUp Software please visit us at http://www.signupsoftware.com