TextMagic group’s sales results for Q2 2024
July 09 2024 - 1:54AM
UK Regulatory
TextMagic group’s sales results for Q2 2024
TextMagic AS is the parent company of the Group, which maintains
a portfolio of B2B (business-to-business) software products. The
group has three subsidiaries: TextMagic Ltd, the sales unit in the
United Kingdom; TM Marketing Ops Srl, the marketing unit in
Romania; and Edicy OÜ, an Estonian company that operates the Voog
platform.
The group’s unaudited consolidated total revenue
increased in the second quarter of 2024 by 8% year-over-year to
€3,782 thousand (Q2 2023: €3,507 thousand). Unaudited consolidated
total revenues for the first six months of 2024 increased by 15% to
€7,809 thousand (H1 2023: €6,779 thousand). On June 1, 2023, the
group acquired a 100% subsidiary Edicy OÜ, that manages the Voog
website and e-commerce platform. The financial results of the Voog
platform have been consolidated from the date of acquisition.
Quarter (in thousands) |
Q2 2024 |
Q2 2023 |
Change |
Textmagic SMS platform |
€3,621* |
€3,447 |
+5 %* |
Voog website and e-commerce platform |
€161 |
€60 |
- |
Total unaudited consolidated revenue |
€3,782 |
€3,507 |
+8 % |
* Textmagic SMS platforms revenue is
affected by foreign exchange rates. If exchange rates had been the
same as in 2023, SMS platform revenue in Q2 2024 would have been
€3,577 thousand and the growth rate would have been 4%.
Half year (in thousands) |
H1 2024 |
H1 2023 |
Change |
Textmagic SMS platform |
€7,490* |
€6,719 |
+11 %* |
Voog website and e-commerce platform |
€319 |
€60 |
- |
Total unaudited consolidated revenue |
€7,809 |
€6,779 |
+15 % |
* Textmagic SMS platforms revenue is
affected by foreign exchange rates. If exchange rates had been the
same as in 2023, SMS platform revenue in H1 2024 would have been
€7,460 thousand and the growth rate would have been 11%.
Textmagic SMS platform’s sales results
for Q2 2024 and 6 months
Quarter |
Q2
2024 |
Q2
2023 |
Change |
Volume of SMS messages (thousand pcs) |
60,852 |
63,898 |
-5 % |
Active users* |
20,852 |
29,240 |
-29 % |
Average revenue per user (ARPU), 3 months** |
€174 |
€118 |
+47 % |
* An active user is any unique paying customer who has used
Textmagic SMS platform services during the
reporting period.
**ARPU is calculated as Unaudited revenue / Active
users.
Half year |
H1 2024 |
H1 2023 |
Change |
Volume of SMS messages (thousand pcs) |
128,365 |
136,409 |
-6 % |
Active users* |
23,499 |
32,611 |
-28 % |
Average revenue per user (ARPU), 6 months** |
€319 |
€206 |
+55 % |
* An active user is any unique paying customer who has used
Textmagic SMS platform services during the reporting
period.
**ARPU is calculated as Unaudited revenue / Active
users.
The volume of SMS messages sent decreased by 5%
year-on-year in the second quarter and by 6% in the first half of
the year. The main reasons for the decline continue to be U.S.
regulations restricting the sending of bulk SMS messages from
unregistered advertising campaigns and the financial situation of
customers.
Average revenue per user (ARPU) increased by 47%
compared to the second quarter of last year. The increase in ARPU
was driven by a price increase in May, 2023 and the closure of
low-volume customer accounts affected by U.S.
regulatory restrictions and price sensitivity. As the
number of active users declined, the quality of the customer
portfolio improved, which is reflected in the ARPU growth. There
will be no impact from price increases in the coming quarters.
Distribution to
shareholders
The shareholders of TextMagic AS decided in the
second quarter of 2024 to reduce the share capital and make a
payout of EUR 0.59 per share, for a total of nearly €5 million. The
payout will be made at the end of 2024, in accordance with the
deadlines set out in the Commercial Code.
Additional information:
Getter Grünmann
TextMagic AS, CFO
investor@textmagic.biz
https://investor.textmagic.com/