Conferize continues to grow. Strongest quarter ever.
Company announcement no. 11/2019
Copenhagen, 2 April 2019
Conferize continues to grow. Strongest quarter ever.
Conferize A/S announces today key figures for the activity on the Company's digital Event Management platform for Q1 2019. The figures show that the newly launched V2 has managed to convert marketing leads up to 3 times better in the first quarter of 2019 than the previous version of the platform. In addition, the figures show that there are now almost seven times as many event organizers on the platform compared to June 2017, when Conferize was admitted to trading on Nasdaq First North Denmark.
Performance on these activities is significantly higher than assumed for the presented commercial strategy, in which the Company expects to be cash flow positive during 2021. So far, the Company maintains its expectations since the event industry is moving slowly and the Company is still investing in optimizing the new platform in co-operation with the customers.
The development in the past quarter is summarized below.
| 2018 Q4 |
2019 Q1 |
Annual Growth |
Monthly avg. Growth | |
| Users | 62,717 | 68,848 | 56 % | 3,2 % |
| Event organizers | 13,166 | 17,106 | 171 % | 9,1 % |
| Events, accumulated | 31,440 | 34,823 | 55 % | 3,5 % |
Conferize's primary customer segment is the event organizers. They drive the growth of both events, ticket sales and users on the platform. By the end of Q1 2019, 17,106 event organizers had signed up to an account on the platform, 584 % more than in June 2017. The past quarter alone almost 4,000 organizers have created an account on the platform, equivalent to an increase of 30 % during the first three months of the year.
The latest generation of the company's Event Management Software (EMS V2), launched on November 30, 2018, marks a whole new impetus for releasing the potential of the business case. It is absolutely crucial for the realization of the Company's commercial strategy that the new platform manages to convert all event organizers to active users with events, ticket sales and revenue.
In the first quarter, the new platform managed to convert event organizers up to 3 times better than the previous platform. It is now up to 50 % of all organizer signups coming from marketing campaigns, that results in an event creation. It is significantly higher than the assumed 25% in the calculations underlying the Company's commercial strategy. Nevertheless, the Company maintains the current expectations, as it may take several months from the customer comes on board for the event to be held.
We are still at the beginning of rolling out the new platform, and we still invest in getting the right product-market-fit in co-operation with the customers, but it is very positive, that the conversion rate has been so significantly improved in such a short time", says CEO and Founder Martin Ferro-Thomsen, and continues:
"The next step is to convert the event creation into revenue via fees on ticket sales. Revenue remains low, but we have now had ticket sales in a total of 17 different currencies, so we are widely used in the market. And with our aggressive pricing model, we should be able to raise earnings in line with our commercial strategy ".
At the end of Q1 2019, 34,823 events had been created on the platform, 3,383 more than at the end of 2018.
The total number of user accounts (event organizers and event-goers) on the platform was 68,848 accounts at the end of Q1 2019.
On Conferize
Conferize is a digital platform for event organizers and attendees. Too many events and conferences are still planned and realized following a template from a time when the world was still analog. This means that the attendees benefit too little in terms of networking, knowledge sharing and participation, and organizers struggle with old-fashioned and incomplete products, ultimately resulting in a bad experience for the attendees.
Conferize solves this fundamental problem by offering a comprehensive solution that makes it easy for the organizer and creates greater value for the attendees - before, during and after the event. At the same time, Conferize connects users and content in a global network of events, providing an overview of an otherwise fragmented industry. Conferize has been used by thousands of events in more than 140 countries and has been official partner for TEDx since 2014.
Business registration no. 34472742 invest.conferize.com
Certified Adviser
The Company's Certified Adviser is Baker Tilly Corporate Finance P/S (Business registration no. 40073310), Gert Mortensen, Poul Bundgaards Vej 1, 1., DK-2500 Valby, +45 30 73 06 67, gmm@bakertilly.dk.
Investor relations
Søren Dalsgaard Hansen, CFO Conferize A/S, +45 31 21 17 26, ir@conferize.com
Attachment
Company Announcement 2019 11 - Metrics 2019 Q1
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