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.

MapsPeople is set to release its 2024 Annual Report on March 19, 2025. The following day, on March 20 at 12:30 PM, CEO Morten Brøgger and CFO Christian Læsø will present the financial results and discuss recent strategic developments, followed by a Q&A session.

Yesterday after the market closed, MapsPeople adjusted its 2024 guidance on ARR but kept guidance for revenue and EBITDA. After getting the budget approval from the board, the 2025 guidance has been set. A capital requirement has also been announced to carry out its 2025 plans.

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.

Earlier this week, MapsPeople announced its Q3 2024 report with updated 2024 guidance and the finalization of its acquisition of Point Consulting's customer contracts and indoor mapping assets. We have updated our investment case one-pager with the new guidance and recent news, including updated valuation multiples across selected Danish-listed SaaS companies.

Following the Q3 2024 report, we had the pleasure of hosting an event with the management of MapsPeople. Joining us from MapsPeople were CEO Morten Brøgger and CFO Christian Læsø, who presented the Q3 2024 results and gave some insights into the reasons behind the adjustments to the 2024 guidance.

MapsPeople expects to announce its Q3 2024 financial report on 13 November 2024. MapsPeople’s CEO Morten Brøgger and CFO Christian Læsø will present the financial results and the recent strategic development on the next day, 14 November 2024 at 10:00, in an online live event. The management presentation will be followed by a Q&A session.

Today, MapsPeople reported its Q3 2024 results, adjusted its 2024 guidance, and provided news about the acquisition of Point Consulting's indoor mapping activities. Read more here.