ACCESS Newswire
24 Nov 2022, 12:25 GMT+10
COPENHAGEN, DK / ACCESSWIRE / November 24, 2022 / Linkfire (STO:LINKFI) 'Promising growth across revenue streams and stable margins place us firmly on target to reach operational profitability in 2023'
Quarter in review
Lars Ettrup, CEO and Co-founder, comments:
Focusing on cost control along with business initiatives with a quicker rate of return will ensure reaching profitability in 2023.
In Q3, revenue driven by our traffic commission agreements began to reveal its potential, showing healthy growth in consumer connections and traffic monetisation. In line with our adjusted revenue growth target of 20-40 per cent (previously 50-70 per cent), the organization continues to deliver value through proven, financially sustainable strategies, which in Q3 materialized in a 61% improvement of EBITDA compared to last quarter.
In addition to building momentum towards profitability through the streamlining of our organization and its cost base, our performance in Q3 keeps us in line with our financial guidance for the full year 2022. This is largely attributable to the positive impact of the new agreements with Amazon Music and Apple, both of which have continued to show increasing promise through Q3 and early Q4.
Selected financial highlights and key figures
Financial guidance (revised in October) and expectations for 2022 (maintained)
For the financial year 2022, Linkfire maintains its financial guidance revised in August expecting its revenue to be in the range of DKK 50-60M, corresponding to a yearly growth of 48-78%, and its EBITDA to be in the range of negative DKK 32-42M (until August: DKK 22-32M).
As a result of the adjusted focus initially covered in the Q2 interim report, Linkfire reduces its annual mid-term organic revenue growth target to 20-40 per cent (previously 50-70 per cent), while maintaining its mid-term gross margin target of 80 per cent. This adjustment includes staff reductions initiated to reduce the investment into further developing the Discovery Network, and an increased focus on yielding short-term value from the Marketing Platform for both the Subscription revenue and the Commission revenue.
The result of this is the main reason for adjusting our revenue growth target. Reversely, the remaining initiatives are proven and have shown faster-than-expected returns, providing confidence in our revenue guidance and allowing us to continue focusing on fewer initiatives that will return upside faster.
In order to achieve our guidance, continued strong RPM and subscription performance, as well as continued product maintenance, innovation and development are required.
Webcast
Linkfire hosts an interim report webcast for investors and media on November 24, 2022 at 10.00 AM CET. The report is presented by Lars Ettrup, Co-founder & CEO and Tobias Demuth, CFO.
The presentation for the webcast can be downloaded 30 minutes before the webcast starts and a recording of the event will be available after the webcast. The Q&A session is moderated through a chat function, which can be accessed via the webcast link below.
Link to register for webcast: https://lnk.to/Q3call
After registration, you will receive a link to access the webcast via e-mail.
For further information, please contact:
Linkfire
Lars Ettrup, CEO, Linkfire
Telephone: +45 61 33 99 53
E-mail: [email protected]
Certified Adviser
Aktieinvest FK AB
Telephone: +46 739 49 62 50
E-mail: [email protected]
About Linkfire - Empowering Entertainment Discovery Everywhere
Linkfire makes entertainment marketing easy. We optimize impact, drive streams, increase ticket sales and recommend audio content to billions of fans and listeners on a global scale. Our SaaS marketing platform transformed music marketing and we are now building a global recommendation network for audio entertainment discovery to connect even more fans and listeners to the content they love. Linkfire's customers and partners include most artists on Billboard's annual HOT 100, all major music labels, global audio and music streaming services, social media apps and media publishers.
In 2021, Linkfire enabled 1.6 billion consumer connections and the company's revenue amounted to DKK 34.5M, an annual growth of 42 per cent. Co-founded in 2014 and headquartered in Copenhagen, Linkfire today employs a global workforce and also has offices in New York and Los Angeles. Linkfire's share (LINKFI) is listed on Nasdaq's First North Premier Growth Market in Stockholm. Learn more at www.linkfire.com or follow @Linkfire on LinkedIn and @getlinkfire on Twitter and Instagram.
This information is information that Linkfire is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-11-24 07:30 CET.
Attachments
SOURCE: Linkfire
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