Claranova reports 12% second-quarter growth

Also announces ChatGPT integration in Ink Card app

PlanetArt parent Claranova reported improved second-quarter results. With second-quarter 2022-2023 (October to December 2022) revenue of €218 million up 13% at real exchange rates and 2% at constant scope and exchange rates year-on-year, Claranova’s positive growth momentum is now back on track, the company said. Reflecting this trend, the Group had six-month revenue of €315 million, up 12% at real exchange rates (up 1% like-for-like).

“Claranova’s growth momentum at the start of the year remained on track in half-year 2022-2023 with record revenue of €315m and 12% growth,” said Pierre Cesarini, Chairman-CEO of Claranova. “This performance benefited from solid sales by the PlanetArt division which is once again delivering organic growth. Our marketing efforts are starting to produce results as we continue to identify new and more efficient customer acquisition channels to optimize our acquisition costs. The Avanquest division reported solid H1 revenue of €57m driven by subscription-based sales. Our IoT division displayed a comparable trend with recurring revenue up 30% in the first half. We also took advantage of the critical end-of-year period by ramping up marketing investments to strengthen the customer bases of our flagship divisions, Avanquest and PlanetArt. And while these investments for future growth will temporarily impact H1 results, they will also bolster earnings in the second half and improve the Group’s profitability. In a highly inflationary global environment where all technology companies continue to be impacted by customer acquisition costs, we are confident that the transformations we started to implement more than a year ago will contribute to strong sales and boost our profitability for the full year.”