The company has progressed according to plan in 2023 and the financial result is as budgeted.
2023 has seen continued significant customer engagement and solid growth in subscription revenue/ARR (Annual Recurring Revenue) of over 60% compared to the previous year. Growth in ARR comes partly from new customers, but also from growth of existing customers. The company's subscription model means that growth of existing customers leads to increased subscription revenue for the company.
In 2023, the company has commissioned 6 new energy companies on the company's SaaS solution, and in 2023 the company's SaaS solution has become the billing solution used by most electricity traders on the Danish market.
Major investments have been made in further development of the CUBS solution in 2023. Development takes place primarily in Denmark, where the core system is developed and maintained, while peripheral parts are developed in Spain.
The result of the company's operations in the financial year showed a profit of DKK 2,775,642 compared to DKK 1,261,797 the previous year. At the balance sheet date, the shareholders' equity amounted to DKK 14,104,036.
