Exasol AG

Earnings Release • Aug 16, 2023

Investor Call on H1 2023 figures

August 16, 2023

Jörg Tewes (CEO) and Jan-Dirk Henrich (CFO)

Topics for today

-

-

Summary of key points

FINANCIALS H1 2023 ( )

•

• •
• •
• •
• •
• •
• •

Outlook 2023 (unchanged)

Incl. net proceeds of 6.8 m€ from capital increase

Quarterly ARR development since end 2021

In EUR million at const. Q4 2022 FX rates, in percent, # of customers

• •
• •
• •
• •

Current Pipeline H2 2023: 1.5-2x coverage of remaining gap to guidance

In EUR million, unweighted pipeline values

Next step in sharpened market positioning: Strengthened "productization" of offering

Updated technology platform Product lines

Launch of new product version incl. SaaS in May 2023

• New deployment options (SaaS)
• Storage-Compute-Separation
• Improved concurrency
• Accelerator Program including free trail phase

BI Acceleration

AI Acceleration

DataWarehouse Automation

Three distinct product lines for focused market entry

BI Acceleration: Targeted land & expand pathway

AI Acceleration: Enabling AI at scale

• •
• •
• •
• •
• •

• •
• •
• •
• •

• •
• •
• •
• •

Financial Results H1 2023

ARR development end Q2 2023 – Global

In EUR million at const. Q4 2022 FX rates, in percent, # of customers

• •
• •
• •
• •

Russia XO: 2 churned customers with total 40k ARR + 300k downsell

ARR development by region

In EUR million

P&L 2023/22 by quarter

In EUR million, in percent

	Q2 2023	Q2 2022	Change	H1 2023	H1 2022	Change
Revenue	9.0	8.4	+7%	17.8	16.1	+10%
- thereof recurring revenue	8.7	8.1	+7%	16.9	15.1	+12%
- thereof non-recurring revenue	0.3	0.3	-3%	0.9	1.0	-11%
Gross Profit (adj.)	9.5*	7.9	+20%	17.7*	15.2	+16%
Personnel expenses (adj.)	-7.7**	-7.0**	+10%	-14.9**	-14.6	+2%
Training and Recruiting	-0.1	-0.1	0%	-0.2	-0.2	0%
Marketing	-0.9	-1.5	-40%	-1.9	-3.2	-40%
IT infrastructure	-0.6	-0.3	+100%	-1.2	-0.6	+100%
Others (adj.)	-1.4	-1.2	+17%	-2.9	-2.5	+16%
Total Costs (adj.)	-10.7	-10.1	+6%	-21.1	-21.2	0%
EBITDA (adj.)	-1.2	-2.2	-45%	-3.4	-6.0	-43%

* incl. 0,9 Mio. EUR other operating income from the ex-post granting of R&D subsidies by ministry of finance for FY2020/21

14 ** incl. 0.1m EUR restructuring expenses in Q1 and 0.5m EUR restructuring expenses in Q2, i.e., 0.6m EUR total in H1

Headcount development by quarter In # of people

• Major efficiency improvement as we were able to increase ARR and reduce headcount at the same time
• Current headcount is below the average headcount of around 200 planned for 2023

EBITDA to cashflow reconciliation H1 2023

In EUR million

Liquid Funds and adj. EBITDA

In EUR million

2023 Outlook

Financial Outlook 2023 (unchanged)

* Average Annual Revenue (Subscriptions) / Average Annual Consumption (Consumption based pricing)

** Excluding effects from pre IPO stock programs

Financial calendar

2023	February 22	FY 2022 preliminary results (Webcast & Roadshow)
	May 10	FY 2022 & Q1 2023 trading update (Webcast & Roadshow)
	May 16/17	Spring Conference (Frankfurt)
	May 31	Stockpicker Conference (Hauck & Aufhäuser)
	June 23	Annual General Meeting (virtual)
	August 16	H1 2023 report (Webcast & Roadshow)
	November 14	Q3 2023 trading update (Webcast & Roadshow)
	November 16/17	Meet the Future Conference (Berlin)
	November 28	EK-Forum (Frankfurt)

Thank you