Advertising
Advertising
twitter
youtube
facebook
instagram
linkedin
Advertising

DataWalk-3Q22 Preliminary Results Revealed-WSE: DAT

DataWalk-3Q22 Preliminary Results Revealed-WSE: DAT| FXMAG.COM
Aa
Share
facebook
twitter
linkedin

This report is prepared for the Warsaw Stock Exchange SA within the framework of the Analytical Coverage Support Program 3.0.

datawalk 3q22 preliminary results revealed wse dat grafika numer 1datawalk 3q22 preliminary results revealed wse dat grafika numer 1

Event: 3Q22 preliminary results revealed – 31% yoy growth of revenues – below expectations.

After yesterday’s market close, DataWalk released preliminary financials for 1-3Q22 with the revenues at PLN 25.8 million (up 29% yoy) which implies 3Q22 revenues at PLN 7.7 million (up 31% yoy) while an implied 3Q22 operating loss adjusted for the incentive program costs reached PLN -7.3 million. The incentive program valuation had a positive impact on the reported result. Operating costs grew in 3Q22 (up 65% yoy and 8% qoq) to PLN 15.0 million.

The CEO Paweł Wieczyński commented on the results:

  • DataWalk expected a revenue dynamic growth in 3Q22, but this expectations did not materialize;
  • In 3Q22 the Company witnessed a slowdown in making purchase decisions by some clients in spite of the fact that the implementation of solutions offered by DataWalk is deemed indispensable. The Company does not lose contracts, albeit they are delayed and in some cases split into parts with a lower first order;
  • The CEO believes that even if uncertain economic circumstances prevail, DataWalk will come out of it with the stronger organization enabling the Company to accelerate its growth.

Our comment: 2Q22 poor dynamics were justified by insufficient training and performance of field engineering teams handling the pre-sale (software trial version installation) and post-sale services (software implementations); this time, in 3Q22 the situation was aggravated by the problems of the wide market such as clients’ delaying decisions stemming from a harsher economic reality.

Advertising

The full 1-3Q22 report will be published on November 22, 2022.

datawalk 3q22 preliminary results revealed wse dat grafika numer 2datawalk 3q22 preliminary results revealed wse dat grafika numer 2

Expected impact: Slightly negative; as the revenue growth dynamic disappointed. Nevertheless, it looks like this has been partially discounted by the market.

Analyst: Tomasz Rodak, CFA +48 797 487 381

GPW’s Analytical Coverage Support Programme 3.0

 

Advertising

GPW’s Analytical Coverage Support Programme 3.0

GPW’s Analytical Coverage Support Programme 3.0

The Warsaw Stock Exchange's (GPW's) Analytical Coverage Support Programme 3.0 supports investment firms in drafting analytical reports which are financed by GPW. The objective of the Programme is to improve the availability of research covering less liquid companies, facilitating investors' informed investment decisions based on a reliable independent source of issuer information. Eligible to participate in the Programme are companies listed on the GPW Main Market (other than WIG20 participants) and on NewConnect. The Programme covers up to 50 issuers.

Twitter | LinkedIn 


Advertising
Advertising