Keepit A/S

In an era where data shapes our identities, businesses, and societies, Keepit stands at the forefront of modern data protection, management, and intelligence. With groundbreaking innovations, Keepit is redefining how organisations worldwide safeguard and manage cloud data, solidifying its position as a category leader and a true disruptor in cloud data protection and intelligence.

The financial year 2024/25 marked another period of strong growth and investment, aligned with our business plan. Keepit delivered revenue growth of 41% during the year and EBITDA of DKK -115m. These results were in line with the guidance set out last year. The net result for the year shows a loss of DKK -187m and, as of 30 September 2025, equity is DKK -17m. In line with last year, the market for cloud data protection and management is expected to continue growing significantly, and Keepit will maintain its’ investment in growth initiatives. Based on the budget prepared at the start of the financial year, the Company expects continued revenue growth between 30%-50% and an EBITDA loss in the range of DKK 125m to DKK 150m for the financial year 2025/26.

Capital resourcesAs mentioned in the …

Research and development

To maintain product leadership in the market, Keepit continues to invest in new product research and development. With the rapid development of new technologies, growing cybersecurity threats and increased legal compliance requirements for customers and their data estate, this continues to be a key investment focus for the Company and central to future growth. The ability to attract and retain talent is critical, and Keepit has been successful in this regard as illustrated by the close to 500 skilled employees and contractors across multiple locations, at the end of the financial year. More than DKK 90m was invested in research and development during the financial year, of which DKK 46m was capitalised.…

Completed development projects represents a book value of DKK 123m as of 30 September 2025. Capitalised costs of completed development projects comprise salaries directly or indirectly attributable to the Company’s development activities. On a monthly basis, it is assessed if costs qualify for capitalisation. This assessment is based on managerial estimates including the nature of the development activities and the potential current and future addressable market. Capitalised development projects are amortised on a straight-line basis over 10 years. Costs not passing these criteria are expensed in the income statement. Management has performed an impairment test based on a discounted cash flow framework, where the main variables are cash flow in a forecast period, discount rate, and growth in cash flow in the terminal period. Based on the performed impairment test, management sees no grounds for impairment.

No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date.

Rental and lease obligationsLease obligations under operating leases. Total future lease payments:

Within 1 year…