Second quarter and first half year financial highlights
Quarter in review
- Q2 Recognized revenue increased by 42 per cent to DKK 7.6M (Q2 2020: DKK 5.4M). The growth was driven by a consistent performance on Subscription revenue while Commission revenue grew +200 per cent mainly rooted in a high increase in RPM.
- Revenue on a constant currency basis increased by 52 per cent to DKK 8.0M (Q2 2020: DKK 5.3M).
- The gross profit on a constant currency basis increased by 38 per cent to DKK 5.7M (Q2 2020: DKK 4.1M) at a gross margin of 72 percent (Q2 2020: 79 per cent).
- Q2 Consumer connections increased by 4 per cent to 413M (Q2 2020: 397M) largely deriving from an uptake in platform activity.
- In Q2 last year consumer connections increased by 133 per cent compared to the same quarter the year before, following the outbreak of covid-19. We managed to maintain and further grow the high traffic volume in Q2 2021.
- RPM grew by 236 per cent to DKK 5.62 (Q2 2020: DKK 1.67).
- Earnings are extraordinarily affected by expenses totalling DKK 5.6M related to the completion of the initial public offering on Nasdaq First North Premier Growth Market in Stockholm.
Financial highlights of the first half year
- In the first six months of 2021, recognized revenue grew by 44 per cent to DKK 15.1M (YTD 2020: 10.4M).
- Revenue on a constant currency basis grew by 54 per cent to DKK 15.6M (YTD 2020: DKK 10.1M). All revenue growth is attributed to organic growth.
- In the first six months of 2021, gross profit on a constant currency basis increased by 47 per cent to DKK 11.3M (Q2 2020: DKK 7.7M) at a gross margin of 72 per cent (Q2 2020: 76 per cent).
- Consumer connections increased by 12 per cent to 767M (YTD 2020: 683M).
- RPM grew by 215 per cent to DKK 6.20 (YTD 2020: DKK 1.97)
Lars Ettrup, CEO, comments:
“The second quarter showed satisfying financial results, demonstrating steady progress in delivering on our strategy as well as our long-term vision to empower entertainment discovery everywhere. We achieved continued growth throughout the business with revenue growing by 52 per cent to DKK 8.0M on a constant currency basis. Our growth is based on a consistent stable performance for subscription revenue, as well as +200 per cent growth in commission revenue.
It is a strategic priority for Linkfire to increase traffic monetization and the second quarter showed a continued promising trajectory. Our commission revenue grew by 250 per cent to DKK 2.3M, driven by an improvement in our RPM that increased by 236 per cent to DKK 5.62.”
Webcast with teleconference:
Today, August 25, 2021 at 10.00 CEST. The presentation will be held in English and will be available on https://investors.linkfire.com/ after the webcast with teleconference.
Lars Ettrup, CEO
Tobias Demuth, CFO
Link to webcast:
Dial-in number for teleconference:
For further information, please contact:
Lars Ettrup, CEO, Linkfire A/S
Telephone: +45 26 88 99 53
About Linkfire A/S
Linkfire is the world’s leading Saas marketing platform for the music and entertainment industries. Linkfire’s offering consists of two solutions: the Linkfire SaaS Marketing Platform for labels and artists and the Linkfire Discovery Network connecting consumers to music products through apps and partner websites. Linkfire’s platform has over 85,000 users, including the vast majority of the top 100 Billboard artists and largest record labels. In 2020, 1.5 billion consumers were connected through Linkfire and the Company’s revenue amounted to DKK 24.7 million, corresponding to a year-on-year growth of 43 percent. Linkfire has 68 employees and is headquartered in Copenhagen, with additional offices in New York, Los Angeles and Lisbon. Linkfire is listed on Nasdaq First North Premier Growth Market, Sweden. For further information, please visit: linkfire.com
Telephone: +46 734 384 674