VOQUZ Labs AG: H1 '24 Performance and Future Prospects

On September 30, 2024, VOQUZ Labs AG released its final H1 '24 report, aligning with the preliminary results shared in August. The company saw H1 sales increase by 25% year-over-year to €2.3 million, largely driven by its visoryQ business, meeting previous estimates.

VOQUZ Labs' EBITDA improved significantly to €0.3 million compared to a €-0.5 million in H1 '23. This was due to cost-saving measures and an improved sales mix. Free cash flow also turned positive at €0.1 million, contrasting with a negative €0.7 million in the same period last year.

Management confirmed the full-year guidance of 10-20% top-line growth and an EBITDA margin of 15-20%. The company anticipates continued growth driven by the pending S4/HANA transformation and a new Finops manager for its visoryQ solution.

The sales partnership with PwC Germany for the remQ product is expected to contribute to H2 performance. The estimated total addressable market in Germany for the SAP compliance solution is around €20-25 million.