Annual report 2016: Siteimprove reports 50% growth as it expands global footprint

By Siteimprove

mag 11 2017

Copenhagen, Denmark – May 11, 2017: Siteimprove A/S today announced its 2016 full year financial results marking yet another year of solid progress for the company. Both in terms of financial performance and the successful launch of key initiatives aimed at creating more growth in the years ahead.

For the fifth consecutive year, Siteimprove achieved strong growth in 2016 increasing its annual recurring revenue by 50% to DKK 260 million. This was driven by solid growth in the company’s existing subsidiaries, particularly the US and Canada, but also early success in many of the company’s newer subsidiaries. Australia, Austria, Norway, France and the Netherlands for example all of which have been established within the last three years.

In 2016, the global reach of the company’s software intelligence platform grew by an impressive 39% to nearly 5,000 customers with a total of more than 80,000 users. This was driven by more demand from private companies, public institutions and educational organizations, whose core operations increasingly depend on a well-managed digital presence. Moreover, growing focus on digital accessibility including the perspective of more legislation in this area in several key regions of the world, also triggered increased interest for Siteimprove.

Commenting on the 2016 result, Chief Executive Officer, Morten Ebbesen says: “Siteimprove is going through a period of significant change as we prepare to take the company to the next level of growth. In 2016 we invested more than 100 million DKK and we will continue to invest heavily in the coming years to keep our growth at the same pace. Both in terms of geographical expansion and product innovation, but also go-to market strategy and growth investments in all departments.”

In 2016, Siteimprove noted a net loss of DKK 44.2 million, which is in line with management expectations considering the substantial investments made. Over the last three years alone, Siteimprove has launched sales activities in 13 new countries and established subsidiary offices in seven of them. By year-end 2016 the total number of employees reached 381, an increase of 47% compared to 2015. Meanwhile, Siteimprove increased its R&D expenditure and also invested in other key initiatives aimed at strengthening operational efficiency.

Siteimprove has positioned itself as a global pioneer and leader in SaaS based software intelligence that transforms the way organizations are able to manage the quality of their digital presence and deliver it consistently to users across all relevant platforms. Siteimprove has coined this ‘act with digital certainty’, which is the new tagline of the company. Siteimprove’s software helps customers manage their website through automated quality assurance, accessibility, analytics, SEO and more. As more and more companies recognize the importance of managing content on websites to ensure an up-to-date and professional digital appearance towards customers, business partners and potential employees, demand for Siteimprove’s software is increasing.

Download Siteimprove’s annual report 2016 here.

Financial highlights

  • In 2016 net revenue increased with 49% to DKK 200 million (2015: DKK 134 million). Annual recurring revenue grew by 50% to DKK 260 million in 2016.
  • The total number of customers grew by 39% in 2016 to nearly 5,000 customers. More than 80,000 users worldwide now use Siteimprove.
  • In 2016, a net loss of DKK 44.2 million was noted in line with management expectations considering an overall high investment level to prepare Siteimprove for more growth.
  • Cash flow from operating activities amounted to DKK 12.4 million (2015: DKK 14.3 million).
  • At the end of 2016 (31 December) Siteimprove employed 381 employees globally, which represents an increase of 47% compared to year-end 2015.

Investor contact

Martin Wagner
Chief Financial Officer
Siteimprove A/S
mwa@siteimprove.com

About Siteimprove A/S

We’re a people-centric company driven by digital certainty. We’ve helped more than 5,000 organizations transform the way they manage and deliver their digital presence. The digital age has made us more connected, informed, and mobile. However, it’s easy to lose visibility of your digital presence and strategic goals. Between our intelligent automation software and a crew of knowledgeable experts, we help organizations find the clarity they need to achieve digital certainty every day.