Our Q3-2024 report is now live!
When I joined Penneo A/S in 2018, the plan was clear: raise capital to grow the team and elevate the company to the next level. We successfully achieved this through funding rounds in late 2019, mid-2020, and again in spring 2022.
In our 2023 Annual Report, we announced that we had reached a level of ARR where it makes sense to shift focus toward profitability. This chart clearly demonstrates that we are delivering on that commitment. Being an ARR-driven business offers a significant advantage, enabling us to grow without continuously expanding the team.
Our SaaS metrics remain strong, and scaling the sales team as growth allows is a logical next step. However, we have now reached a point where scaling the back-office further is no longer necessary to achieve meaningful progress.
Looking ahead to 2025, I believe we are well-positioned to fulfill our plan of achieving cash neutrality on a 12-month basis by the end of the fiscal year.
As outlined in our reports, we are committed to investing in capitalized product development costs next year. With cash neutrality and investments within this range, it becomes evident where this chart will stand by the end of next year.
Looking forward to discussing this further during the conference calls at 10:00 and 12:00 today!
Helping B2B companies generate quality leads and scale with a growth mindset | People lead of Growth Team at Fightclub 🥷🏻
9moCongratulations Jasper D'Hooghe & team MobieTrain!