MapsPeople: 12% ARR growth with improved profitability and cash flow despite slower pace in Q1 2025
Af Kasper Lihn
This morning, MapsPeople announced its Q1 2025 results. By the end of Q1 2025, ARR was DKK 59.79m, corresponding to a growth rate of 12% YoY. The main business segment, MapsIndoors, grew by 19% YoY. MapsPeople's quarterly growth compared to Q4 2024 was 3%. Revenue grew 4% YoY. In Q1 2025, EBITDA before special items ended at DKK -6.95m (DKK -8.53m in Q1 2024). The cash flow from operating activities improved to DKK -6.07m (DKK -11.31m in Q1 2024).
The ARR amount growth was DKK 3.67m in Q1 2025, driven by DKK 1.48m from new partners and customers, and DKK 2.19m from upselling to existing partners and customers. In the report, the company mentions a cautious customer environment in relation to signing new contracts due to the global turmoil around the trade wars. ARR was negatively impacted by contractions of DKK 1.12m and churn of DKK 0.71m.
Read more about the results here: MapsPeople Q1 2025 announcement
MapsPeople’s CEO Morten Brøgger and CFO Christian Læsø will present the Q1 2025 report later today at 14:00 in an online live event. The management presentation will be followed by a Q&A session where the management will answer questions, also related to the expected delisting after Apex Group Technologies – backed by Round 13 – has acquired at least 51% of shares, including a capital injection of DKK 39m. Sign up and ask your questions here: https://www.inderes.dk/videos/mapspeople-presentation-of-q1-2025-report
Disclaimer: HC Andersen Capital receives payment from MapsPeople for a Digital IR subscription agreement. /Kasper Lihn 10:47, 21 May 2025.
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MapsPeople er en Software-as-a-Service (SaaS) virksomhed med fokus på digital kortlægning til indendørs navigation. De to primære indtægtsstrømme er 1) MapsIndoors som er MapsPeoples egenudviklede kortløsning til indendørs navigation 2) Google Maps partnerskab med Google. MapsIndoors er nøglesegmentet med høje tocifrede vækstrater, og Google Maps-segmentet forventes at være en mere stabil forretning fremadrettet. MapsPeople har en global tilstedeværelse med kontorer i Danmark, Tyskland, Singapore og USA, og kunderne omfatter nogle af de største brands i verden. Virksomheden har været noteret på Nasdaq First North Premier i Danmark siden juni 2021.
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