Exasol AG Reports Strong Start to 2024 with Positive Q1 Financial Results

Exasol AG, a technology company specializing in high-performance analytics databases, announced its preliminary results for Q1 2024, marking significant financial improvements. For the first time since its IPO in May 2020, the company reported a positive operating result. The earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at EUR 0.3 million, compared to a EUR -2.2 million loss in Q1 2023.

The company's total revenue for the quarter reached EUR 9.9 million, representing a 12.5% increase from EUR 8.8 million in the same period last year. Additionally, annualized recurring revenue (ARR) grew by 16.0% year-over-year, totaling EUR 40.7 million as of March 31, 2024. This growth was driven by strong customer demand and was particularly strong in the financial sector.

Exasol also experienced a significant increase in its cash reserves. Cash and cash equivalents grew to EUR 20.7 million by the end of Q1 2024, up from EUR 13.3 million at the end of 2023. This improvement is attributed to a robust inflow of payments from customers with fixed-term contracts, especially following a strong Q4 2023.

The company remains optimistic about the continued growth through 2024, attributing future positive developments to strategic initiatives started last year. The full financial results for Q1 2024 will be released on May 7, 2024.