MapsPeople sets ARR guidance for 2023

Company Announcement No. 1 - 2023 - Internal knowledge

MapsPeople sets cARR and ARR guidance for 2023

Historically MapsPeople has guided ARR in accordance with the definition in section 10.5 in the prospectus. Going forward MapsPeople will address this as cARR (Contracted ARR), and in addition we will also guide on ARR defined as 12 times monthly invoiced recurring revenues. The difference on cARR and ARR will represent the contracted order book to be delivered and invoiced in 2023.

The Board of Directors has approved the 2023 budget, containing growth targets according to the Company's strategy. Following the Board of Directors' approval of the budget, the Company has set an cARR guidance of DKK 105-115M for 2023 corresponding to 50-64% growth and an ARR guidance of DKK 77-87M.

MapsPeople delivered a cARR in 2022 of DKK 70.1M resulting in a total growth of 71%. The cARR guidance was stated at DKK 68-73M (company announcement no. 20-2022) and the cARR for 2022 is therefore within the guided range.

MapsPeople closed 2022 at DKK 33.6M in ARR (did not guide for this metric in 2022) and in 2023 a range between DKK 77-87M is expected. This represents a growth in the range of 129% to 159%.

“In 2022 MapsIndoors continued to drive strong growth for MapsPeople and this is expected to continue in 2023. The growth in 2022 was primarily driven by signing up new partners with contracted minimums included. In 2023 we plan to expand our partner channel particularly in the Smart Office and Smart Building verticals while also growing our existing channel partners,” says Morten Brøgger, CEO of MapsPeople A/S.

Download company announcement (pdf) >


MapsPeople A/S:

Morten Brøgger, CEO

Mobile (+45) 31 23 48 72


Stigsborgvej 60, 9400 Nørresundby


Certified Advisor:

Grant Thornton

Jesper Skaarup Vestergaard

Mobile (+45) 31 79 90 00

Grant Thornton, Stockholmsgade 45, 2100 Copenhagen Ø, Denmark