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OrderYOYO: Positive Cash Flow Around the Corner - Analyst Group

OrderYOYO A/S (“OrderYOYO” or the “Company”) delivered a strong H1-23, beating our expectations both regarding growth and profitability. Net revenue amounted to DKK 116m, corresponding to a growth of 33% compared to consolidated H1-22 proforma results, while the ARR grew 47% compared to June 2022, amounting to DKK 246m at the end of H1-23. By consistently diversifying the range of products, a strategy anticipated to draw in a larger number of restaurant partners while also presenting upselling opportunities, along with enhanced customer retention leading to reduced churn rates, OrderYOYO is projected to achieve a revenue of DKK 238 million in the year 2023. Based on an EV/S-multiple of 4x on the 2023 forecast and adjusted for OrderYOYO’s net debt, a potential fair value of DKK 10.2 per share (8.1) is derived in a Base scenario.

OrderYOYO A/S (“OrderYOYO” or the “Company”) delivered a strong H1-23, beating our expectations both regarding growth and profitability. Net revenue amounted to DKK 116m, corresponding to a growth of 33% compared to consolidated H1-22 proforma results, while the ARR grew 47% compared to June 2022, amounting to DKK 246m at the end of H1-23. By consistently diversifying the range of products, a strategy anticipated to draw in a larger number of restaurant partners while also presenting upselling opportunities, along with enhanced customer retention leading to reduced churn rates, OrderYOYO is projected to achieve a revenue of DKK 238 million in the year 2023. Based on an EV/S-multiple of 4x on the 2023 forecast and adjusted for OrderYOYO’s net debt, a potential fair value of DKK 10.2 per share (8.1) is derived in a Base scenario.
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