Q3 2024 Upsales Technology AB Earnings Call Transcript
Key Points
- Upsales Technology AB (OSTO:UPSALE) has a strong focus on Nordic medium-sized B2B organizations, providing tailored solutions that larger international competitors may overlook.
- The company boasts a high percentage of recurring revenue, with 95% of its revenue coming from subscription licenses, ensuring a stable income stream.
- Upsales Technology AB (OSTO:UPSALE) is a net cash company with no debt, providing financial stability and flexibility.
- The company has a long track record of profitable and organic growth, having been a SaaS company since its founding in 2003.
- Upsales Technology AB (OSTO:UPSALE) is investing in AI projects to significantly enhance sales processes, with plans to release new features soon.
- Annual recurring revenue (ARR) growth has been modest, with a slight increase in Q3 2024, but still not at the desired pace.
- The company's EBITDA margin decreased from 33.9% in Q3 2023 to 30.8% in Q3 2024, indicating a decline in profitability.
- Operating cash flow was negative in Q3 2024, at negative SEK 1.9 million, compared to positive SEK 1.8 million in the same period last year.
- Net sales slightly decreased from SEK 36 million in Q3 2023 to SEK 35.7 million in Q3 2024.
- The company is facing challenges in achieving faster ARR growth, despite internal changes and efforts to improve sales performance.
Good morning, everyone, and thank you for joining the Upsales conference call for the third quarter of 2024. My name is Daniel Wikberg. I am the CEO and founder of Upsales, and I will be doing this presentation today together with my colleague Elin Lundström, who is the CFO at Upsales.
(Event Instructions)
All right, so our agenda for today looks like this. I will do a short company presentation, introducing Upsales for those of you who are unfamiliar with the company. We will do an update on the growth and the initiatives we are pursuing there. We will also do a short product update, talking about what we are doing on the product side. Then Elin will cover all the financial highlights from the third quarter. And then we will end with a short Q&A.
So introducing Upsales. So the problem we want to solve is this one. So sales is the number one reason why B2B businesses fail. And pretty much all companies start out with a big ambition to grow the business, to find a lot of customers and to
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