The key take-aways from the report:
Financial highlights
- Revenue increased by 11% year-over-year, reaching DKK 233.7 million.
- Significant growth in (perpetual) software revenue (26%) and SaaS, including cloud services (30%).
- Gross profit rose to DKK 152.2 million, representing a gross margin of 65.1%.
- EBITDA improved to DKK 0.6 million, a year-on-year improvement of DKK 2.3 million.
- Operating profit was a loss of DKK 2.6 million, better than expected.
- Profit for the year was DKK 5.3 million, a substantial turnaround from the previous year’s loss.
Strategic initiatives, market trends and outlook
- Transition from traditional perpetual software licensing to a subscription-based model, projected to take one to two more years.
- Expected annual revenue growth of approximately 10-13% in the coming year.
- Expected EBITDA loss due to ongoing investments in long-term profitability.
- Continued focus on enhancing and expanding the Cue media enterprise platform, especially in AI and automation.
- Dedicated effort to establish a footprint in the broadcast market.
- Consolidation and the adoption of standard software solutions are enabling companies to adapt to industry disruptions.
Ethical, social, and environmental initiatives
- Installation of solar panels at headquarters and procurement of renewable energy sources.
- Commitment to Science-Based Targets for emission reduction, aiming for 80% renewable electricity by 2025 and 100% by 2030.
- Diversity and inclusion initiatives, as an example, we are targeting 30% women in leadership by 2025.
- Active community engagement (ReDi School and others) and participation in the UN Global Compact.
Risk management
- Enterprise risk management process closely linked to strategy execution.
- Quarterly reviews of key risks and mitigation plans involving senior management and the Board of Directors.
- Integrated risk management with the group-wide ISO 27001 certification.
Leadership
- Restructured top management with a Global Leadership Team (GLT), including functional leaders from various departments to ensure cohesive and high-quality delivery.
Download and read a PDF of the report