MapsPeople A/S | Google Maps revenue is raised
MAY NOT BE PUBLISHED, DISTRIBUTED, OR SUPPLIED ORIN PARTICULAR, DIRECTLY OR INDIRECTLY, IN OR TO THE USA, AUSTRALIA, CANADA, OR JAPAN.
This announcement does not constitute an offering circular, Prospectus, or other offer document. No one should purchase or subscribe for any securities in MapsPeople A/S ("MapsPeople" or the "Company") except on the basis of information in the Prospectus published by the Company in connection with the Offering and admission of such securities to trading on Nasdaq First North Premier Growth Market Denmark ("First North"), which is available on the Company's website.
Company Announcement No. 2-2021
MapsPeople guides on the company's overall ARR (Annual Recurring Revenue) where Google Maps forms a central part. MapsPeople has been notified from Google of an upcoming change in partner discount that affects MapsPeople's gross profit and thus ARR.
PREREQUISITES IN THE PROSPECTUS
- MapsPeople’s ARR from Google Maps based on 10% partner gross margin
- MapsPeople’s ARR from Google Maps ultimo May is estimated to 6,5M DKK
- MapsPeople’s total ARR ultimo May is estimated to 30,1M DKK
GUIDANCE
- MapsPeople’s partner discount as a Google Maps Premier Partner increases from 10% to 12%
- MapsPeople’s estimates for ARR from Google Maps at the end of May 2021 will be raised from DKK 6.5M to DKK 7.7M
- MapsPeople’s estimates for total ARR at the end of May 2021 will be raised from DKK 30.1M to DKK 31.4M
The change from 10% to 12% discount (for Premier Partners only) means that expectations for Google Maps ARR for the whole of 2021 will be raised from DKK 7.3M to DKK8.8M. With this, expectations for the total ARR for the full year increases from DKK 42.8M to DKK 44.3M.
MANAGEMENT COMMENTARY
CEO Michael Gram states: "We are very pleased that Google is emphasizing their partner-based Go-to-Market strategy by increasing their Premier Partners' gross profit from Google Maps revenue. This, along with other growth-oriented incentives, strengthens the expectations for the years to come”.
MapsPeople is a member of the exclusive group of only 30 Premier Partners that form the core of the global deployment of Google Maps for apps, websites, and internal systems by thousands of large customers worldwide.
ABOUT MAPSPEOPLE
MapsPeople is an indoor mapping SaaS company and a Google Premier Partner. MapsPeople intends to list on Nasdaq First North Premier Growth Market to expand its market-leading solution, MapsIndoors. MapsIndoors helps employees find a desk or colleague in a large corporate office, assist guests navigate to their seats at stadiums, display vacant parking lots, or avoid long queues. With the MapsIndoors solution, employee productivity is improved, fan experience reaches new levels, and passengers do not miss flights or trains.
Download company announcement (pdf) >
CONTACT INFORMATION
MapsPeople A/S:
Michael Gram, CEO
Mobile (+45) 53 74 09 00
Email mg@mapspeople.com
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
IMPORTANT INFORMATION
This announcement is not an offer to sell or a solicitation of any offer to buy any securities issued by MapsPeople A/S in any jurisdiction where such offer or sale would be unlawful and the announcement and the information contained herein are not for distribution or release, directly or indirectly, in or into such jurisdictions, including but not limited to, the United States, Australia, Canada or Japan. This announcement does not constitute an offering circular, Prospectus or other offer document and nothing herein contains an offering of securities. No one should purchase or subscribe for any securities in MapsPeople A/S except on the basis of information in the company description published by the Company in connection with the Offering and admission of such securities to trading on NasdaqFirst North Growth Market Denmark ("First North"), which is available on the Company's website. Neither the existing shares of MapsPeople A/S nor the Offer Shares have been, or will be, registeredunder the UnitedStates Securities Act of 1933, as amended ("Securities Act"). Neither the existing shares nor the Offer Shares may be offered or sold, directly or indirectly, in or into the United States or to persons residing there. Moreover, the Offering is not made to persons resident in Australia, Hong Kong, Japan, Canada, New Zealand, South Africa, Switzerland, or Singapore or to persons whose participation would require the publication of a prospectus, registration or other measures. Any application to subscribe for the OfferShares in violation of these restrictions may be void. Persons who receive copies of this announcement are required to inform themselves about, and comply with, such restrictions.Any failure to comply with the restrictions described may result in a violation of securities regulations.
Certain statements in this announcement constitute forward-looking statements. Forward-looking statements are statements (other than statements of historical fact) relating to future events and the Company's anticipated or planned financial and operational performance. The words "targets", "believes", "expects", "aims", "intends", "plans", "seeks", "will", "may", "might", "anticipates", "would", "could", "should", "continues", "estimates" or similar expressions or the negative forms thereof, identify certain of these forward-looking statements. Other forward-looking statements can be identified in the context in which the statements are made. The Company has based these forward-looking statements on its current views with respect to future events and financial performance. By their nature, forward-looking statements are based on certain assumptions and projections on future events and financial performance, which involve a number of risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. Actual results are likely to differ from those set forth in the forward-looking statements. Any forward-looking statements speak only as at the date of this document and neither the Company nor any of its respective affiliates, directors, officers, employees, advisors, or any other person is under any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not and may not rely on these forward-looking statements.
May 21, 2021
