GeoJunxion NV (GOJXN.AS) publishes its Financial & Business update Q1 (July – September) 2021-22

Capelle aan den IJssel, The Netherlands, 11 November 2021, GeoJunxion reports 76% revenue growth, with strong reduction in Net Loss and Cash outflow for the period July – September 2021 versus the same period in 2020.

Please note that the current financial year will cover a 12-month period from 1 July 2021 to 30 June 2022.  The previous financial year covered 18 months from 1 January 2020 to 30 June 2021 and was an eventful period, during which the Company went through a significant transformation, which, in part, is still in progress. Consequently, this is the first Financial and Business update of the new financial year 2021-22, covering the first 3 months from 1 July to 30 September 2021.

Looking back at this first quarter, GeoJunxion’s business continued to show resilience and good performance, in spite of the fact that this quarter is traditionally slow due to the summer holiday season, during which most of the companies reduce their activities. Revenue grew by 76% compared to the same quarter in 2020 and order intake showed growth of about 53% compared to the same period last year.

We are continuously encouraged by the market interest regarding our new premium location-aware products, in particular the Eco and Safety Alert Zones, and Location Intelligence Services, which have attracted the attention of public and private companies within various industry sectors and resulted in the increased strength of our pipeline. It is also worth noting that order intake has continued its positive trend across all our product lines and services, in particular for recurring multi-year business opportunities.


Strategy Update

GeoJunxions’ strategy focuses on creating “map agnostic” products: digital geo-located content designed to be fully integrated into any commercial and open-source maps, or to be utilised in developing smart solutions for a large variety of use cases across different industries and market sectors.

GeoJunxion activities are directed towards establishing long-term relationships with our customers, through the creation of recurring business models rather than one-off opportunities. Although the relationship with clients frequently starts with a proof-of-concept or a custom one-off project, most of our efforts go into building value-added, dynamic content requiring continuous and frequent updates to maintain and increase their value. This means that most of our proof-of-concept and one-off projects are useful for establishing a service or license contract, converting the initial activities into a recurring, more predictable and sustainable business model.

In most cases, GeoJunxion also retains the Intellectual Property and ownership of the newly developed datasets and solutions, which can be subsequently resold to other customers.  Thereby, leveraging the initial investment and creating a virtuous business cycle.

Our mission remains focused on improving road safety, contributing to a more sustainable world and reducing the impact on the environment through intelligent solutions which enable more environmentally conscious decisions.

Central to GeoJunxion’s strategy are:

  • Cost efficient sourcing, production, ingestion and aggregation of geodata.
  • Flexible licensing models at competitive pricing.
  • Direct delivery of dynamic, up-to-date content via APIs.
  • Highly customised solutions and content creation.

Market Developments

While COVID restrictions have been relaxed during the mentioned quarter, measures still influenced the general willingness to spend, therefore companies remained cautious in their investments. However, signs of improvement are confirmed in many industry sectors, from large IT companies to public and private organizations operating in the business of Smart Cities solutions, green economy, Transports and Logistics, Automotive and Autonomous driving sectors. The new GeoJunxion strategy which focuses on map agnostic solutions fostering safety on the road and environmental sustainability perfectly aligns with recent market developments.

Business Development

In the quarter from July to September 2021, we maintained our focus on the High Alert Zones data suite, with re-enforced attention on Eco and Safety Alert Zones. The strongest traction from the market remained on the Eco Alert Zones (EAZ), where we expanded our unique value proposition of fully attributed, global, and authoritative coverage of Low Emission Zones, Congestion areas and Limited Traffic zones. Eco Alert Zones apply to passenger vehicles, light commercial vehicles up to 3,5T and heavy vehicles above 3,5T. EAZ proved to be the most requested data suite, both by existing customers and prospects, leading to a strong pipeline of opportunities.

Safety Alert Zones (SAZ) also started attracting active customers and new prospects.  The first release of the Accident-prone Areas focused on the Netherlands and Germany, with tunnels and bridges, classified as potentially dangerous spots for drivers under certain weather conditions. During Q2, we will launch a new business campaign with the SAZ product, focusing on the Insurance market, Transports and Logistics, Automotive and Smart Cities management.

Our Outdoor Venue Plan and Location Intelligence Services are also generating positive traction. We see increased interest from municipalities, for the development of information systems and bespoke suites of data related to Smart Cities applications and services. Public and private companies are showing interest in alternative mobility plans, real estate and, finally, also travel, leisure and tourism, despite the still limited capability of investment due to Covid restrictions.

Outdoor Venue Plan – use case for Automotive, Municipalities and Smart City applications

Our series of webinars generated good numbers of registrants and attendees and have proven to attract the interest of new prospects and re-enforce the relationship with current clients. Recordings of all webinars are available on our website in the Resources section, at “Events and Webinars”.

Product Development

Product development during the first quarter (July-September ‘21) was focused on the release of the first set of data of our Safety Alert Zones and related APIs to enable usage on web and mobile platforms as well as on geographic information systems for spatial data analysis.

The first release of the Safety Alert Areas included:

  • Accident Prone-Areas in the Netherlands and Germany
  • Tunnels and Bridges as potentially dangerous areas, based on time and weather conditions in the Netherlands, Germany and Italy

Safety Alert Zones – use case of Accident-Prone (AP) Area for Automotive, Insurance and Transport and Logistics

We actively worked (and will continue doing so) to improve our Eco Alert Zones, with specific attention to Heavy Vehicles over 3.5 tons. This new authoritative and dynamic dataset perfectly fits the GeoJunxion’s mission to foster safety and sustainability through location-aware content, bringing increased value to the existing Environmental Zones data suite.

Per 30 September 2021, GeoJunxion’s Eco Alert Zones included about 2,000 areas, divided into three major categories:

  • Low Emission and Congestion Zones for passenger vehicles and light commercial vehicles up to 3.5T
  • Low Emission and Congestion Zones for Heavy Vehicles over 3.5T
  • Traffic Limited Zones (ZTL) for all vehicles

These areas are monitored on a daily basis and, in any case, updated as soon as any modification in the geometries or attributes is announced by the official governmental authorities responsible of their definition, implementation and enforcement.

Eco Alert Zones – worldwide coverage at the end of September 2021 (about 2.000 areas in 27 countries)

We continued working on a new premium product with worldwide coverage referred to as Built-Up Areas (BUA), i.e., boundaries enclosing densely urbanized areas, characterized by a higher population density than surrounding areas.  A BUA provides the geographic shape of cities, towns, and larger villages.

We also started working on a dedicated Outdoor Venue Plan project in the Travel & Tourism industry, with the intention to deliver the final solution in the next quarter. We believe this project can be the first to generate new revenue opportunities when this industry regains speed during the course of 2022.

Order Intake / Bookings developments

Order intake for the period July-September 2021 confirmed its positive trend, with an increase of about 53% compared to the same period in 2020. Orders for premium location data and Location Intelligence Services booked in the past quarters of the previous financial year continue to materialize into revenue thanks to diligent internal delivery procedures and full commitment of the entire team towards product excellence and customer satisfaction.


  • Revenue for Q1 2021 grew strongly by 76% compared to the same period in 2020.
  • Increased Operational expenses reflects investment in headcount for product and service delivery.
  • Operating result improved €210K, or 63% to a loss of €125K, compared to a loss of €335K in Q1 2020.
  • Net result after tax improved by €198K, or 56% to a net loss of €155K versus €353K in Q1 2020.
  • Net cash-flow from operating and investing activities equals an outflow of €62K, a significant improvement versus a cash outflow of €350K in Q1 2020.
  • Consolidated 30 September 2021 cash position equals €760K.


Covid-19 and the related measures to contain its spread, continue to hamper our business development and growth. This is the case for our products directed towards the travel, leisure, and events industry. Despite this headwind, we continue to experience strong market interest in our new product portfolio, resulting in solid Q1, July-September 2021 revenue growth, and a growing pipeline of opportunities with major players in our industry. Based on the orders in hand, and the strength of the pipeline of opportunities, we expect revenue growth for the accounting year 2021-22, in the range of 40 to 50% compared to the 12-month period from July 2020 to June 2021.


During the period July to September 2021, there were no significant organizational changes to be noted.


GeoJunxion progresses in turning its business around from a digital map supplier focused on one-off large deals, to a premium location content and location intelligence service provider with a subscription based, recurring “data as a service” revenue model. During the quarter GeoJunxion has continued to invest in product development, in strengthening it R&D and Operations teams.   The December 2020 private placement has provided the funding needed to enable GeoJunxion to grow towards a cash generating and profitable organization.  The results reported for Q1 2021-’22 evidence this progress. The cash available on hand is estimated to be sufficient to cover our operational requirements for at least the next 12 months.


It is encouraging to see that the lack of availability of PIE/OOB auditors is receiving attention at the legislative level. GeoJunxion is not the only affected company, with 12 companies quoted on Euronext Amsterdam stock exchange unable to present audited financial statements. Recently, the Dutch Government (Minister Hoekstra – Department of Finance), has taken the initiative to propose a mandatory appointment of auditors to resolve this issue. The Management Board welcomes and supports this initiative and is hopeful that during the next accounting year 2021-2022, the auditor issue will be resolved, and we will be able to present audited financial statements.


Risk management is an integral managerial task. Our risk management and control procedures take into consideration the size of the company and the character of the business to identify the most significant risks which the company is exposed to. The risks identified are discussed on a periodical basis and mitigated or fully resolved, where possible. Such a system cannot provide absolute certainty that objectives will be realized. Neither can it guarantee prevention of potential cases of material mistakes, damage, fraud, or breaches of statutory laws.

The 2020-21 annual report describes the principal strategic, operational, and financial risks. The risks and uncertainties described in the annual report are relevant and are deemed incorporated and repeated by reference in this report. There were no cases of material damage, fraud or breaches of law detected since issuing the Annual Accounts.

On the Social aspect, we continue to pay particular attention on preventive actions to limit exposure of our people to Covid-19, encouraging and supporting smart working from home, and establishing clear rules for those that need to be physically present in our offices. Our people are our key assets, and we do whatever we can to keep them safe and healthy.


The Board of Management hereby declares that, to the best of its knowledge, the summarized Q1 (July – September) 2021 interim consolidated financial statements, drawn up in accordance with IAS 34 “Interim financial reporting”, represents a faithful rendering of the assets, liabilities, financial position, profit and cash flow of GeoJunxion NV and its subsidiaries as stated in the consolidated financial report, and that the Board report as included in this Q1 (July-September) 2021 Interim Financial report represents a faithful rendering of the information required in relation to item 5:25d subs 8 and 9 of the Dutch Financial Supervision Act.


The voluntary liquidation of AND Data India Pvt, LTD, continues to progress well: The liquidator has paid all debts, obtained required certificates, closed the bank accounts, and filed the liquidation request with the NCLT court in Mumbai.  Upon the NCLT’s approval, the liquidation is completed.  The timeline for its verdict is unclear, as there is a backlog in cases to be processed resulting from Covid closures.


This document contains certain forward-looking statements with respect to the financial position and results of GeoJunxion. We have based these forward-looking statements on our current expectations and projections about future events, including assumptions regarding our present and future business strategies, operations, and the environment in which we will operate in the future. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, and you should not place undue reliance on them.

Many of these risks and uncertainties relate to factors that are beyond the company’s ability to control or estimate precisely, such as timing of placement of orders of our customers, exchange-rate and interest-rate fluctuations, changes in tax rates, regulatory and legal changes, the rate of technological change, the competitive landscape, political developments in countries in which the company operates and the risk of a downturn in the market.

The forward-looking statements contained herein speak only as of the date they are made. We do not assume any obligation to update any public information or forward-looking statement in this document to reflect events or circumstances after the date of this document, except as may be required by applicable laws.

Capelle aan den IJssel, 11 November 2021, 
Ivo Vleeschouwers – CEO / CFO

For a copy of the full press release and GeoJunxion NV’s Interim Consolidated Results (Unaudited) Click here