Modera achieved 51% revenue growth

Fourth quarter growth reached 58%

  • 2022 revenues reached 1.63 million euros, with a 51% growth
  • Fourth quarter revenues exceeded half a million euros for the first time reaching to 555,154 euros. Increase compared to the respective period from last year is 58%
  • For the last 2 years Modera has exceeded the plans made in the framework of the IPO and 2/3 of the planned revenues for the 2023 are covered by contracts

Modera’s revenues in 2022 reached to 1.630 million euros, which exceeded the revenues of the previous period by 51%.

Revenues (thousand EUR)2021 plan2021 actual2022 plan2022 actual2022 growth
TOTAL REVENUE1,0081,0801,5651,63051%

“In 2022, our expected rapid growth continued. We were able to begin our cooperation with two companies at OEM level (car manufacturers), and the start of these projects has already had a positive impact on our revenue. It’s significant that we were able to continue to grow despite the general decline of the car market. This proves that digitization is a clear trend in the car market as well,” commented Raido Toonekurg, Chairman of the Board at Modera.

“The revenues of the last quarter of 2022 reached a record 555,154 euros, which clearly shows the sustainability of the growth even in a difficult economic environment. Revenues are currently received from 13 different countries.”

“The outlook for 2023 is positive, and as promised – as part of the IPO, the 2,7 million EUR sales plan is already covered by contracts by 2/3.”

Modera stands out from the majority of software companies operating in Estonia because they have a product developed in Estonia, which has over 2000 business users in more than 13 countries. The number of integrations created with various car sales portals, insurance companies and financial institutions both in the Baltics and outside the Baltic countries is also remarkable. The number of different integrations created in total is 33 and growing continuously.

More than 63,000 vehicles in different countries have been sold through Modera’s system and the financial value of these transactions is estimated at around 2 billion euros. In Estonia, the company has achieved a 60% market share. Modera’s products are used by importers and distributors of Toyota, Volkswagen, Renault, BMW, Kia, Hyundai, Volvo, Mercedes-Benz.

For more information, please contact:

Raido Toonekurg
Aktsiaselts Modera
Juhatuse liige
Tel: +372 5087 617

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© 2024 Modera Ltd. All rights reserved.

© 2024 Modera Ltd. All rights reserved.