Impero A/S Due Diligence

Run due diligence on Impero A/S: check compliance and get alerts when suppliers or ownership change.

Denmark · owned by Independent (Denmark) · impero.com · 12 vendors

Impero A/S is a Danish Software-as-a-Service (SaaS) company that offers a cloud-based platform for governance, risk, and compliance (GRC). The platform helps organizations, especially finance, tax, and compliance teams, to proactively manage risks and internal controls, ensuring transparency and audit readiness.

Resilience scores

Technology vendors

Services catalogue

1 service in catalogue across 1 category; runs on 12 sub-vendors.

Insights

Last updated 2026-09-13 · revision 2

12 direct vendors, 165 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

8 in-scope frameworks identified; showing 3.

EU AI Act (source) — No public evidence

Evidence: https://impero.com/product/impero-assist, https://impero.com/privacy-policy, https://impero.com/product/security-compliance

CSRD (source) — No public evidence

Evidence: https://impero.com/company/investor-relations, https://impero.com/company/investor/financial-reports

NIS2 (source) — No public evidence

Evidence: https://impero.com/product/security-compliance, https://impero.com/company/about-us, https://impero.com/company/investor-relations

Financials

Three-year financials

Financial Resilience Score: 6/10

Impero A/S demonstrates improving financial resilience driven by a highly recurring SaaS revenue model with excellent retention metrics (1% churn, 106% NRR in 2025) and consistent double-digit ARR growth from DKK 30.4M (2023) to DKK 46.2M (2025). The EBITDA loss has narrowed substantially from -DKK 10.6M in 2023 to -DKK 3.1M in 2025, with 2025 cash burn from ordinary operations at only DKK 1.3M, indicating a credible path toward profitability. A December 2025 directed share issue of DKK 15M replenished the balance sheet, leaving the company with DKK 18.9M cash and no interest-bearing debt entering 2026. However, the company remains cash-flow negative on a recurring basis, and management has formally deferred the previous target of positive recurring cash flow by end-2026 to prioritize commercial investment. The equity base of DKK 15.4M is small relative to accumulated operating losses, and further capital raises may be needed if growth investments do not quickly translate into ARR. ARR growth has decelerated from 34% (2023) to 19% (2025), CAC has risen sharply from DKK 222K to DKK 371K, and CAC payback has lengthened to 22 months. Deloitte issued a clean audit opinion with no going-concern qualification, and the diversified blue-chip customer base (Volkswagen, Mercedes-Benz, Commerzbank, Maersk) and reduced top-10 customer concentration (20% of ARR) support resilience.

Key strengths: Highly recurring SaaS revenue with 1% churn and 106% Net Revenue Retention in 2025, ARR grew from DKK 30.4M (2023) to DKK 46.2M (2025), a 52% cumulative increase, EBITDA loss narrowed from -DKK 10.6M (2023) to -DKK 3.1M (2025), DKK 15M directed share issue in Dec 2025 restored cash to DKK 18.9M with no interest-bearing debt, Blue-chip enterprise customers including Volkswagen, Mercedes-Benz, Commerzbank, Maersk, Top-10 customer concentration reduced from 37% (2020) to 20% (2025), Big-4 partner channel (Deloitte, KPMG, PwC, Grant Thornton) generates 37% of ARR, Clean Deloitte audit opinion with no going-concern qualification, DKK 19.5M deferred income provides forward-revenue visibility, Unrecognized deferred tax asset of DKK 20.2M could benefit future earnings

Risk factors: Still cash-flow negative on a recurring basis; break-even target formally deferred, Small equity base of DKK 15.4M relative to ongoing operating losses, ARR growth decelerating (34% → 28% → 19%) with 2026 guidance of only 15-23%, CAC rose sharply from DKK 222K to DKK 371K; payback lengthened to 22 months, Geographic concentration: 88% of ARR from Denmark and DACH only, Small headcount (~40) creates key-person and execution risk, Recent executive turnover (CFO changed Aug-Oct 2025; new CCO Jan 2026), Small-cap First North listing with limited free float; share price 27% below IPO, Concentrated ownership limits liquidity (Kolind >25%, Profound Partners >20%), Rising competition from AI-first GRC vendors and potential market consolidation

Revenue by geography

Revenue by product/service

Workforce by country

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