CM.com issued a subtle annual revenue warning during the third quarterly earnings presentation of 2022. Annual sales may be up to €10 million lower than expected due to macroeconomic conditions.
The warning was issued by CEO Jeroen van Glabbeek. In July of this year, sales for 2022 were expected to total between €300 million and €315 million. The forecast has now been adjusted.
CM.com expects a final result of around €300 million. This means that the company projects to miss €10 million in revenue. Macroeconomic conditions are cited as the main cause. Inflation, increased interest rates and energy prices all play a role.
CM.com responded to the macroeconomic conditions in the past quarter. Fewer employees are being hired, business trips have been reduced, events were scaled back and consulting services have been cut.
Despite troubling times, CM.com managed to post an increase in sales in the third quarter. Quarterly sales rose 18 percent to €68.9 million. Gross profit rose 17 percent to €19.3 million.
CM.com attributes the sales increase due to the waning effects of COVID-19. The number of tickets and payments processed grew. On the other hand, revenue from call minutes, which increased during the pandemic, is one the decline.