MapsPeople (One-pager): Positive outlook after a transformative 2023
Last week, MapsPeople grabbed attention as the company announced its 2023 annual report and the share price rose by 174%.
Accordingly, we have updated the investment case one-pager on MapsPeople after the new reported numbers for 2023 as well as the outlook for 2024. We also provide an updated view of a Danish SaaS peer group with insights into benchmark data of SaaS metrics and valuation multiples.
You can also watch the management presentation of the annual report 2023 from last week with MapsPeople’s CEO Morten Brøgger and CFO Christian Læsø here: https://www.inderes.dk/videos/mapspeople-presentation-of-annual-report-2023
Disclaimer: HC Andersen Capital receives payment from MapsPeople for a Digital IR/Corporate Visibility subscription agreement. /Kasper Lihn 08:00, 25 March 2024.
MapsPeople
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.
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