Exasol AG Reports Positive Financial Growth and First Quarterly Profit Since IPO

Exasol AG disclosed its audited consolidated financial statements for 2023 and the results for the first quarter of 2024 today. The company noted an 18.1% increase in annualized recurring revenue (ARR) for 2023, reaching EUR 41.7 million. This growth compares favorably to the EUR 35.3 million reported in 2022. Revenue in 2023 rose by 5.7% to EUR 35.1 million from EUR 33.2 million the previous year.

In the first quarter of 2024, Exasol continued its positive trend, reporting an ARR of EUR 40.7 million, up 16% year-over-year. The Q1 revenue also experienced a rise of 12.5%, totaling EUR 9.9 million. Notably, the company achieved a positive EBITDA of EUR 0.3 million in Q1 2024, marking its first quarterly profit since going public in 2020. The previous year's same quarter saw an EBITDA loss of EUR -2.2 million.

Cash and cash equivalents showed robust growth as well, reaching EUR 20.7 million by March 31, 2024, compared to EUR 13.3 million at the end of 2023. Exasol attributes these favorable outcomes to strategic initiatives and a strong sales pipeline expected to further support ARR growth in the latter half of 2024.

Jörg Tewes, CEO of Exasol AG, expressed confidence in achieving the company's full year targets for 2024. These include an up to 10% increase in ARR and a significant improvement in EBITDA, along with maintaining a stable cash position over EUR 10 million by year-end.