Wrocław/Boston, August 29, 2024—Text Group achieved 86.8 million PLN in consolidated revenue and 43.7 million PLN in net profit in the first quarter of the current financial year (which began in April 2024). Revenue increased by 3.5% compared to last year's period, while net profit was 4.5% lower, largely due to the dollar's weakening. The Group generates almost all its revenue in US dollars while incurring costs in both dollars and Polish zloty (PLN).
"In the quarter, monthly recurring revenue (MRR) expressed in dollars grew by nearly 10% year-on-year, and payments increased by over 10%. The results reported in PLN are naturally weaker, but we are not concerned about this and are focusing on what is most important: our customers and product development," said CEO Mariusz Ciepły.
Text's operating profit was 46.9 million PLN, compared to 49.2 million PLN a year earlier, and EBITDA was 52.6 million PLN, compared to 53.7 million PLN last year.
Payments for periods longer than one month are spread over subsequent quarters (previously they were fully recognized in the quarter in which they were received). Consequently, the Company recognizes a "liabilities from customer contracts" position on the balance sheet, representing deferred revenue. At the end of the quarter, its value was 74.0 million PLN.
A valuable indicator that enables tracking the Group's development is the so-called MRR (Monthly Recurring Revenue). Text publishes this value in US dollars, the currency in which it generates the vast majority of its revenue. The estimated value of the Group's monthly recurring revenue from all products at the end of June 2024 was USD 7.07 million, representing a 9.3% increase compared to the same period last year and a 6.2% increase compared to the end of March 2024.
At the end of the first quarter of the financial year, the number of paying LiveChat customers was 37,523, ChatBot customers totaled 2,956, and HelpDesk customers numbered 1,195.
By the end of June 2024, the ARPL (average monthly revenue per license) for the LiveChat product reached $170.7 (an increase of 7.9% year-on-year). The ARPL for ChatBot increased by 19.3% to $146.2, and the ARPL for HelpDesk grew by 36.5% to $172.0.
The Company continues to generate cash efficiently. The value of payments received during the quarter amounted to USD 22.62 million, reflecting a 12.2% year-on-year increase and a 4.0% increase compared to the previous three months.
The Ordinary General Meeting decided on August 22, 2024, to allocate a total of 153.99 million PLN from the standalone profit for the past financial year for dividends. This means that the dividend will amount to (including two interim payments) 5.98 PLN per share, compared to 5.95 PLN per share last year, marking the highest dividend in the Company's history.