MapsPeople: Announces 2023 guidance for Contracted ARR and ARR

Yesterday, MapsPeople announced its Contracted ARR guidance and ARR guidance for 2023. After closing 2022 with a Contracted ARR of DKK 70.1m (71% growth YoY) and ARR of DKK 33.6m, MapsPeople expects a Contracted ARR in the range of DKK 105-115m (expected growth of 50-64%) and ARR guidance in the range of DKK 77-87m (expected growth of 129-159%) by the end of 2023.

MapsPeople has changed its way of reporting to the market with more transparency between the company’s definition of Contracted ARR and ARR, respectively. The company’s previous ARR definition from section 10.5 in the prospectus is now referred to as cARR (Contracted ARR), and ARR is now defined as 12 times monthly invoiced recurring revenue (has not been reported before). The difference between the Contracted ARR and ARR will represent MapsPeople’s contracted order book, which is delivered and invoiced in 2023.

In the announcement, MapsPeople’s CEO comments that the high growth rate in 2022 was driven by its segment MapsIndoors, primarily by signing up new partners with contracted minimums included. In 2023, the key focus is to expand the partner channel, especially the Smart Office and Smart Building verticals as well as its existing part channels.

Read the full announcement here: https://view.news.eu.nasdaq.com/view?id=b69c72fbd5b5ae06ae713bd23004ff64d&lang=en

MapsPeople expects to publish its annual report for 2022 on 24 March 2023. 

HC Andersen Capital receives payment from MapsPeople for a Corporate Visibility/Digital IR subscription agreement. /Kasper Lihn 08:37, 18 January 2023.