Penneo (One-pager): Balanced journey to profitability confirmed in Q1 2024
Last week, Penneo announced its Q1 2024 results, reporting an ARR growth of 23% YoY and improved profitability, which aligns with the 2024 guidance. After the Q1 2024 report, we have updated the investment case one-pager with recent news from the report and updated market data.
You can also watch the management presentation of the Q1 2024 report with Penneo’s CEO Christian Stendevad and CFO Casper Nielsen Christiansen here: https://www.inderes.dk/videos/penneo-praesentation-af-q1-2024
Disclaimer: HC Andersen Capital receives payment from Penneo for a Digital IR/Corporate Visibility subscription agreement. /Kasper Lihn 12:00 (latest updated 12:05), 27 May 2024.
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Penneo
Penneo is a Danish Software-as-a-Service (SaaS) company delivering solutions for digital signing (Penneo Sign), document workflow, and compliance such as a Know Your Customer product (Penneo KYC) that helps companies comply with Anti Money Laundering (AML) legislation. Penneo was established in Denmark in 2014, and the company has more than 3,000 customers across Denmark, Sweden, Norway, Finland, and Belgium. Penneo is listed on Nasdaq Copenhagen Main Market.
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