24. Februar 2022

Preliminary Results for the 2021 Fiscal Year: On Growth Track with Strong Increase in Cloud Revenues

InVision AG (ISIN: DE0005859698) has closed the 2021 fiscal year with a growth spurt. According to preliminary results, annualised cloud revenues increased by 33 percent to EUR 6.61 million. The headcount expansion was fully on target and the excellent balance sheet sustainably ensures further aggressive growth. At the end of March 2021, the company had presented its growth strategy for the next few years, until the end of 2025. A significant expansion of business activities and headcount was announced in this strategy. The aim is to have approximately 500 employees, annual revenues of more than EUR 50 million with an EBIT margin of more than 25 percent by the end of 2025.

injixo ARR: Growth Jumped in 2021
According to preliminary figures, annualised injixo cloud subscription revenues (injixo ARR - Annual Recurring Revenues) increased by 33 percent to EUR 6.61 million at the end of the 2021 fiscal (12/2020: EUR 4.98 million). Thus, the growth strategy initiated last year already shows a jump in the growth rate of the key revenue indicator in the first year. Particularly important to point out here is that the injixo ARR growth rate has risen steadily over the course of 2021 (12/20: 7%, 03/21: 16%, 06/21: 26%, 09/21: 27%, 12/21: 33%).

Growth Strategy 2025 Right On Track
The reason for the extremely positive business development is the consistent expansion of the workforce in order to exploit the existing sales potential. The number of employees rose by 18 percent in the financial year to 144 employees (31 December 2020: 118). A key element of this growth was the expansion of sales and marketing capacities in Europe and North America. Thus, InVision is right on track to achieve its investment and growth targets for 2025.

Strong Balance Sheet For Sustainable Growth
While total revenues increased by 7 percent to EUR 13.69 million in 2021 (2020: EUR 12.75 million), EBIT (earnings before interest and taxes) decreased to minus EUR 0.74 million (2020: EUR 1.14 million) due to scheduled growth investments and the resulting increase in the cost base. Thus, the EBIT margin for the 2021 fiscal year was minus 5 percent (2020: 9 percent). This development is in line with the company’s guidance, which temporarily expects a negative EBIT, both in 2021 and 2022, of up to minus EUR 6 million due to investments. To finance its growth, InVision continues to have an extremely strong balance sheet with equity of EUR 11.87 million (2020: EUR 13.41 million), an equity ratio of 59 percent (2020: 60 percent) and liquid funds of EUR 6.34 million (2020: EUR 7.79 million).

2022 With Further Growth Acceleration
For the 2022 fiscal year, the company plans to further expand its workforce, particularly in the areas of sales, consulting, and marketing in Germany, the United Kingdom, France, the Netherlands, and the United States. In addition, the Management Board expects a further increase in the injixo ARR growth rate to over 40 percent in the course of the 2022 fiscal year.

The complete 2021 Annual Report will be available from 31st March 2022 on the Company’s website at www.ivx.com/investors.