Risk Intelligence records 0% churn and increases in license sizes in Q4 2020
15 December 2020
Risk Intelligence A/S announces 0% churn (100% renewal) as well as increases in license sizes and additional sales to existing clients in Q4 2020.
Q4 is Risk Intelligence’s major annual renewal period for Risk Intelligence System licenses due to the large part of licenses that follow the calendar year, generating a strong base of recurring revenue for 2021. This year in Q4, 100% of Risk Intelligence System clients have renewed their licences, with several increasing the scope of the licence by adding more users or additional subscriptions to the agreement.
Jim Pascoe, Chief Commercial Officer of Risk Intelligence, says:
“We are delighted to have completed the Q4 2020 renewals with 100% client retention. We appreciate that the year has resulted in a difficult trading environment for many, so this really shows how much our clients value our services. Not only have we in Q4 had full renewals, we have also seen some major increases in System licenses, as clients look to broaden access to timely intelligence across their organisations and fleets. In amongst this renewal and uplift activity, we have welcomed new clients as well, closing out 2020 in a positive fashion.”
New users of the Risk Intelligence System are joining a global portfolio of clients from maritime industry organisations operating word-wide, that are assessing security threats and risks based on intelligence and in-depth assessments from Risk Intelligence. Today, 14.7% of the global merchant fleet in international traffic is operated by Risk Intelligence clients.
The Risk Intelligence System
The Risk Intelligence System is a digital security intelligence solution developed in close collaboration with global businesses that are established within the fields of shipping, offshore, oil and gas. The digital platform is designed on the basis of insights directly from customers and their needs as well as Risk Intelligence’s experienced security risk analysts and developers’ knowledge of intelligence and assessment needs.
The Risk Intelligence System offers customers a complete picture of immediate, short- and medium-term security risks for coastal areas, ocean, port and landside threats. The analysis is focused on insurgency, piracy, organised crime, activism, terrorism, military conflicts and any interplay between these. Risk Intelligence identifies where serious events arise and presents an assessment of how great the threat is in each area. This enables companies to evaluate both current and future security risks in real time to minimise risks across their operations.
Licences provide strong recurring revenue
The license agreement provides access to the Risk Intelligence System (MaRisk+PortRisk) through a subscription, paid for twelve months at a time, in advance. Variables of the Risk Intelligence System license agreements are number of system users and standard reports included. The Risk Intelligence System license agreements create recurring revenue with a renewal rate of 98-100% (churn of 0-2%) and generates strong cash flow for the Company.
This information is information that Risk Intelligence A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out below, on 15 December 2020.
For more information on services and the System:
Please watch our corporate video: Knowing Risk
For further information about Risk Intelligence, please contact:
Hans Tino Hansen, CEO
Jens Krøis, CFO
Telephone: +45 7026 6230
E-mail: investor@riskintelligence.eu