OrderYOYO: Fifth upgrade of 2023 guidance and M&A
Today, OrderYOYO upgraded its 2023 guidance for the fifth time on both topline and EBITDA and announced a small acquisition of the German online ordering company, Gustoco. With end markets still challenged, and only partly explained by the M&A transaction, the company continues the positive momentum which points to a strong value proposition.
The acquisition of Gustoco is a smaller M&A transaction but supports OrderYOYO’s consolidation strategy, acquiring strong local market participants and consolidating the European market. The transaction price of DKK 8.8m will be partly paid in cash (DKK 3.5m) and OrderYOYO shares. The issued shares correspond to less than 1% of OrderYOYO’s share capital and therefore no big dilution of current shareholders. The transaction will add DKK 120m in annualized GMV (October 2023) and approx. DKK 4m in annualized ARR (October 2023). The transaction values Gustoco at 2.2x ARR, below the current multiple of OrderYOYO.
With the acquisition and strong performance in October, OrderYOYO has raised its guidance for 2023 again. The December 2023 ARR guidance is raised to DKK 270-275m (before DKK 260-270m), December 2023 Annualized GMV guidance is raised to DKK 2,600-2,800m (before DKK 2,500-2,700m), net revenue 2023 guidance is raised to DKK 240-245m (before DKK 230-240m), and EBITDA before other external costs guidance for 2023 is raised to DKK 22-24m (before DKK 20-23m).
HC Andersen Capital receives payment from OrderYOYO for a Digital IR/Corporate Visibility agreement. /Michael Friis, 15:35, 24 November 2023.
OrderYOYO er en dansk Software-as-a-Service (SaaS) virksomhed, der forsyner takeaway-restauranter med al den nødvendige software til at betjene deres kunder, herunder online bestilling, betaling, markedsføring og business management-løsninger. Softwaren gør det muligt for restauranter, primært indenfor takeaway, for at have deres egen-brandede online tilstedeværelse direkte til forbrugerne i stedet for via fødevareportaler. I 2022 fusionerede OrderYOYO med tyske app smart. Fremover er Tyskland et vigtigt vækstmarked for OrderYOYO. OrderYOYO har en brugerbaseret forretningsmodel, der indebærer, at virksomheden vokser med sine restaurantpartnere. Selskabet har været noteret på Nasdaq First North i Danmark siden juli 2021.
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