Regulatory News:
MotorK PLC (AMS: MTRK) ("MotorK", the "Group" or the "Company"), a leading SaaS provider to the automotive retail industry in the EMEA region, today announced its financial results for the first quarter of 2025 ("Q1 25"), reporting continued CARR growth and strong progress toward its profitability targets.
Q1 25 Financial Highlights:
- Committed Annual Recurring Revenue (CARR)1: €36.8M, up 4.2% year-on-year from €35.3M, despite market uncertainty leading to large enterprise and dealership projects postponements
- Annual Recurring Revenue (ARR)2: €33.4M, a 1.4% increase compared to €33M in Q1 24, slightly slowed by retail legacy platform migrations
- Reported Revenue: €10.3M, a 8.4% increase compared to restated3 €9.5 in Q1 24
- Retail Net Revenue Retention (NRR)4: 102%, confirming the value of the SparK platform offering, combined with the 'land and expand' strategic approach
Broader macroeconomic pressures, including newly imposed tariffs on transatlantic automotive trade, continued to influence market dynamics. These factors contributed to extended decision-making cycles among OEMs and dealer groups, resulting in the postponement of several large-scale digital transformation projects into Q2. At the same time, the Group remained focused on high-impact client engagements, prioritising opportunities that align with long-term strategic value and margin expansion. This disciplined approach supports sustainable growth, though it may shift some revenue recognition into future periods.
In the retail segment, changes in customer retention were primarily associated with the Company's planned transition from legacy platforms. These migrations are a key enabler of future growth, positioning the Group to better serve its expanded customer base and enhance cross-sell and upsell potential across acquired businesses.
Amid these market dynamics, the Group maintained strong operational discipline and made meaningful progress toward its profitability objectives. Adjusted EBITDA was positive for the quarter, and Cash EBITDA improved notably compared to the prior year, reflecting continued focus on cost efficiency and strategic customer engagement.
Looking ahead, MotorK remains committed to further enhancing its financial performance, with a clear path toward reaching a cash EBITDA positive position on a monthly basis by year-end. The Group will continue to emphasize operational excellence and long-term customer value, while remaining agile in response to evolving macroeconomic conditions and investment priorities across the automotive sector.
The Company also announced that the Notice of the AGM and the Form of Proxy are now available on its website.
| Q1 2025 UNAUDITED REVENUES BY PRODUCT AND SERVICES LINE | |||
| In k€ | Mar-25 | Mar-24 restated | y.o.y. change |
| SaaS platform | 8,005 | 6,745 | 19% |
| Digital Marketing | 2,037 | 2,364 | -14% |
| Other | 306 | 358 | -15% |
| Revenues | 10,348 | 9,467 | 9% |
| Q1 2025 UNAUDITED SAAS PLATFORM REVENUES | |||
| In k€ | Mar-25 | Mar-24 restated | y.o.y. change |
| Recurring | 7,908 | 6,693 | 18% |
| Contract start-up | 97 | 52 | 87% |
| SaaS platform revenues | 8,005 | 6,745 | 19% |
| % Recurring on Revenues | 76% | 71% | 6% |
| % SaaS platform on Revenues | 77% | 71% | 6% |
| Q1 2025 UNAUDITED REVENUES BY GEOGRAPHY* | |||
| In k€ | Mar-25 | Mar-24 restated | y.o.y. change |
| Italy | 6,923 | 6,144 | 13% |
| Spain | 1,027 | 936 | 10% |
| France | 1,360 | 1,305 | 4% |
| Germany | 495 | 465 | 6% |
| Benelux | 543 | 617 | -12% |
| Revenues by geography | 10,348 | 9,467 | 9.31% |
It represents Revenues broken down by the countries in which the legal entities are established, independently of the geographical location of the customers.
NEXT PUBLICATION: HY2025 RESULTS, 24 JULY 2025
Forward-looking information and disclaimer
This press release may include forward-looking statements. Other than reported financial results and historical information, all statements included in this press release, including, without limitation, those regarding our financial position, business strategy and management plans and objectives for future operations, may be deemed to be forward-looking statements. Without limitation, any statements preceded or followed by or that include the words "targets", "plans", "believes", "expects", "aims", "intends", "anticipates", "estimates", "projects", "will", "may", "would", "could" or "should", or words or terms of similar substance or the negative thereof, are forward-looking statements. These forward-looking statements are based on our current expectations, projections and key assumptions about future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond MotorK's ability to control or estimate precisely, such as future market conditions, the behavior of other market participants and the actions of governmental regulators. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release and are subject to change without notice. Other than as required by applicable law or the applicable rules of any exchange on which our securities may be traded, we expressly disclaim any obligation or undertaking to update or revise publicly any forward-looking statements, whether because of new information, future events or otherwise.
Important information
This press release contains information within the meaning of Article 7(1) of the Market Abuse Regulation (596/2014).
ABOUT MOTORK PLC
MotorK (AMS: MTRK) is a leading software as a service ("SaaS") provider for the automotive retail industry in the EMEA region, with approximately 385 employees and eleven offices in eight countries (Italy, Spain, France, Germany, Belgium, the UK, and Israel). MotorK empowers car manufacturers and dealers to improve their customer experience through a broad suite of fully integrated digital products and services. MotorK provides its customers with an innovative combination of digital solutions, SaaS cloud products and the largest R&D department in the automotive digital sales and marketing industry in Europe. MotorK is a company registered in England and Wales. Registered office: 5th Floor One New Change, London, England, EC4M 9AF Company Registration: 9259000. For more information: www.motork.io or investors.motork.io.
1 Committed ARR ("CARR") includes ARR and Committed Recurring Revenues ("CRR"). CRR refers to signed contracts to be delivered and billed.
2 Annual Recurring Revenues ("ARR") is defined as the yearly subscription value of the customer base at the end of the reporting period.
3 Q1 24 Revenue has been restated to reflect the change in the revenue recognition method from Point in Time to Over Time.
4 Net Retention Revenues ("NRR") is defined as the percentage of Recurring Revenues retained from existing customers.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250424129917/en/
Contacts:
MotorK Investor Relations
Boaz Zilberman
boaz.zilberman@motork.io
+972 532 819 810
