MotorK - Refined strategy delivering momentum

MotorK’s Q323 results demonstrate continued growth momentum with revenue increasing by 25% y-o-y, underpinned by rising average contract value (ACV) and strong net revenue retention (NRR). Committed annual recurring revenue (ARR) reached €35.2m, providing robust visibility towards our revised FY23 ARR target of €37.2m. Execution continued on its enterprise sales strategy, demonstrated by the near tripling of the strategic pipeline and NRR of 149%. This underscores positive momentum through year-end and into 2024. We have moderated our forecasts, although we continue to forecast positive cash EBITDA in FY24.