MapsPeople is a Software-as-a-Service (SaaS) company focusing on digital mapping for indoor navigation. The two primary revenue streams are 1) MapsIndoors which is MapsPeople’s own developed mapping solution for indoor navigation 2) Google Maps partnership with Google. MapsIndoors is the key segment with high double-digit growth rates, and the Google Maps segment is expected to be a more steady business going forward.
MapsPeople has a global presence with offices in Denmark, Germany, Singapore and United States, and customers include some of the largest brands in the world. The company has been listed at Nasdaq First North Premier in Denmark since June 2021.
Last week, MapsPeople grabbed attention as the company announced its 2023 annual report and the share price rose by 174%. We have updated the investment case one-pager after the new reported numbers for 2023 as well as the outlook for 2024.
MapsPeople expects to announce its annual report for 2023 on 19 March 2024. MapsPeople’s management will present the results, highlights for the year, and its expectations for 2024 on 21 March 2024 at 13:00 in a virtual live event. The management presentation will be followed by a Q&A session.
Today, MapsPeople released its annual report 2023 with results in line with the recent guidance announced in late February. Looking into 2024, MapsPeople expects to deliver high growth and projects positive cash flow from operations during Q4 2024.
The HCA SaaS newsletter for February 2024 has been sent out today. The newsletter covers some of the recent news from the Danish SaaS sector and insights from the US SaaS sector.
Yesterday, after the market closed, MapsPeople announced a lower 2023 ARR guidance and its new 2024 guidance. By the end of 2023, the company now expects 64% ARR growth YoY. In 2024, MapsPeople expects 39-54% ARR growth and improved EBITDA.
The HCA SaaS newsletter for January 2024 has been sent out today. The newsletter covers the recent news from the Danish SaaS sector and also provides an overview of the upcoming financial reports in the sector.
MapsPeople has fully covered its capital requirement for 2023 and 2024 following today's announcement of new loans and agreements with EIFO combined with its capital raise in November.
As mentioned in the recent October newsletter, there was speculation by market analysts of a year-end stock market rally. This came true in November driven by declining interest rates and rising expectations for massive cuts in 2024. The positive development was substantial in the global/US SaaS sector, now trading at 6.9x ARR (up from 6.2x ARR), but has not been seen in the Danish SaaS sector yet.
Today, MapsPeople announced that the company’s private placement has been successfully subscribed. The company raises approx. DKK 8.5 million (gross proceeds) in new capital.