SignUp Software AB (publ) Interim Report January - March 2023

January – March 2023

• Annual recurring revenue (ARR) grew to SEK 261.1m, 4.4%, during the quarter.
• At the end of Q1, ARR amounted to SEK 261.1m (208.3), a growth of 25% during the last twelve months.
• Net sales for the period amounted to SEK 74.1m (55.9) which correspond to a growth of 33% compared to Q1 2022.
• EBITA amounted to SEK 7.7m (4.8), a margin of 10.4% (8.6) of net sales.
• Net Profit SEK 4.7m (0.4).
• Earnings per share SEK 0.20.
• Earnings per share after dilution SEK 0.20.

SignUp has started the year in a good way, and we can see that the investments made during 2022 in our subsidiaries in Benelux and North America are paying off. These subsidiaries are now well functional units that can sell, implement, and support our customers by themselves. This is reflected in the improved EBITA margin, which was 10.4% during the quarter.

From a growth perspective the quarter was in line with our expectations and revenue and ARR growth was 33% and 25% respectively, compared to same period previous year.

The APAC and North America markets have been the strongest growing markets during the quarter and had at the end of the quarter a 42% share of SignUp´s total ARR.

On the 17th of April, Insight Partners through SUS Intermediate Company AB (pending name change from Goldcup 33000 AB) (the “Bidder”) announced a public cash offer, recommended by an independent bid committee, to the shareholders of SignUp Software AB (publ) to tender all their shares in SignUp to the Bidder at a price of SEK 104 per share.
 
Olof Hedin, CEO