This week, Agillic released its FY 2024 results and reiterated its preliminary 2025 guidance. The new management gave insights into a more focused marketing strategy, focusing on the Nordic markets, and ambitions to speed up product releases. We have updated our investment case one-pager with the recent news and results.

In the January SaaS newsletter, we take a look at the potential future Implications for the SaaS sector from the DeepSeek news, and read-over from the hyperscalers.

This morning, Agillic released its Q4 2024 results. This was followed by a management presentation by Agillic’s new CEO Christian Samsø and CFO Claus Boysen, who presented the results and answered questions from the audience. In addition to the 2024 results and the outlook for 2025, the new CEO gave an outside-in view, and what he sees as the future potential.  

Ahead of its full year reporting still expected to be released on 25th February 2025, Agillic's today published preliminary results for 2024, and set new guidance for 2025. The 2025 guidance indicates a more focus on earnings than on growth with new management in place.

As 2024 is now behind us, it is time to conclude the year and look into 2025. Our HCA SaaS Index ended December 2024 with a median ARR multiple of 3.6x (3.4x by the end of November 2024), while The SaaS Capital Index covering the US/global SaaS market ended December 2024 with a median ARR multiple of 7.0x (from 7.3x by the end of November 2024). Read more here.

November has been eventful with several Q3 2024 reports across the SaaS sector and the announcement that Visma will make a voluntary recommended public takeover offer to purchase all shares in Penneo for approx. DKK 562m (DKK 16.50 per share, a premium of approx. 110%), corresponding to EV/ARR of approx. 5.8x. The takeover/acquisition ARR multiple is also significantly above the median ARR multiple of 3.4x of the Danish SaaS sector by the end of November 2024, yet somewhat close to other recent acquisitions from Digizuite (6.9x ARR) and Relesys (5.1x ARR). Across the broader global/US SaaS sector, software shares rebounded significantly in November. The median ARR multiple increased to 7.3x by the end of November 2024 (from 6.9x ARR) based on data from The SaaS Capital Index.

This morning, Agillic released its Q3 2024 results. This was followed by a management presentation by Agillic’s CEO Emre Gürsoy and CFO Claus Boysen, who presented the results and answered questions from the audience in an online live event. In addition to the YTD results in 2024, the management also addressed Agillic’s growth expectations for Q4 2024 and several questions from the audience.

Agillic expects to report its Q3 2024 results and Half-year report on 22 October 2024. The same day at 10:00, Agillic’s CEO Emre Gürsoy and CFO Claus Boysen will present the results and latest main achievements in an online live event.

Today, Agillic's Q3 2024 report has been released. Total ARR decreased by -8% YoY (yet an increase of 2% QoQ), and EBITDA was DKK 1.2m (DKK 2.5m in Q3 2023) in the quarter. By the end of Q3 2024, ARR from subscriptions was DKK 52.5m (-8% YoY) and ARR from transactions was DKK 10.6m (-12% YoY). However, cash flow from operations increased to DKK 4.1m in Q3 2024 (DKK -2.8m in Q3 2023). The company's 2024 guidance is maintained.