Lepermislibre: Revenue for the third quarter of 2023

Press release

Revenue for the third quarter of 2023

Increase of +14% in activity compared to Q3 2022

The favorable evolution of the revenue mix continues

Lyon, 05 October 2023 - lePERMISLIBRE, the pioneer of online driving school in France, announces its revenue for the 3rd quarter of 2023.

Q3 2023 revenue amount to €4.2 million, up 14% compared to the same period in 2022 reflecting the traditional seasonality of the sector during the summer season and a strong recovery of activity in September.

The quarter benefited from a further sustained increase of +60% in revenue to traditional candidates self-financing their driving license training, as the balance of business continues to shift in their favour.

The 7% drop in revenue from candidates financing their learning with the CPF (Personal Training Account) scheme is linked to the strengthening of digital identity verification measures introduced at the end of 2022 by the public authorities, reducing the amount of orders received via this channel and impacting with a few months’ delay the number of driving hours performed in the field.

The effects of these measures gradually wore off over the first half of the year, and revenue from CPF candidates should return to growth in the 4th quarter, matching prior-year levels.

As of September 30, 2023, revenue generated from traditional candidates represent 43% of the activity, compared with 30% for the same period in 2022. This development, which the company had committed to, has positive impacts on operating cycle financing, lightening working capital requirements, as service purchases are paid cash by customers as soon as orders are placed.

In Q4 2023, lePERMISLIBRE anticipates a more dynamic growth in activity in line with September pace. The launch of new insurance services addressing candidates engaged in driving license training will be announced very shortly.

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ABOUT LEPERMISLIBRE

Founded in Lyon in 2014 and a pioneer of digital driving schools in France, lePERMISLIBRE is reinventing driving lessons by providing a disruptive offering compared to traditional players, more aligned with the new habits and lifestyles of the digital native generation that grew up with the development of digital technology. lePERMISLIBRE federates a community of more than 1,000 loyal, committed and passionate driving instructors, all of whom are State-qualified. Its digital model, which is more agile, totally transparent and 35% cheaper than a traditional driving school, has enabled it to attract nearly 470,000 applicants.

 
With a user rating of nearly 5 stars on Trustpilot, the platform provides personal spaces to offer better learning methods and revisions to the Highway Code, as well as the ability to book driving lessons from over 530 towns and cities throughout France, with the instructor of their choice, 7 days a week, from 6 am to 11 pm, freeing students from time and place constraints.

The company is listed on Euronext Growth Paris (ISIN: FR001400F2Z1, mnemo: ALLPL) - Eligible for PEA PME - Qualified as an "Innovative Company" by Bpifrance.

For more information about the company, visit www.lepermislibre.fr

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