Shape Robotics, a Danish leader in the EdTech sector, has revised its financial expectations for the previous year upwards to 22.8 million EUR in revenue and adjusted EBITDA of 1.1 million EUR. Earlier estimates suggested that the company would achieve revenues of 19.4-20.8 million EUR, with its adjusted EBITDA estimated at 0.5-0.8 million EUR. In 2023, Shape Robotics joined the main NASDAQ floor in Copenhagen and completed the acquisition of Polish company Skriware. Currently, the company is focusing on integrating the companies and plans related to the Polish EdTech market penetration, which might exceed the Romanian market, which has been a major market for Shape Robotics so far. The company announced a three-year development strategy for this year’s first quarter.
In 2023, the significance of the Danish company in the Romanian market significantly increased – both in terms of scope and depth. Over the course of 12 months, Shape Robotics successfully implemented a strategy based on partnerships, resulting in key orders and upward adjustments to financial forecasts.
Although the Romanian market is expected to continue growing in 2024, Shape Robotics is working intensively on the quick integration of Skriware, entering another large market (in Poland), and creating a future growth factor. The Danish EdTech leader expects that by 2024 the company’s turnover will amount to 40.2-43.6 million EUR.
Over a little more than two years, the international team of Shape Robotics, led by André Fehrn, has achieved a long list of milestones. Key partnerships with NOD, Samsung, i3-Technologies and Lenovo, strategic acquisitions, new subsidiaries, strengthening of the management, high growth performance, and numerous awards enhancing market trust contribute significantly to the list.
“Achieving goals meant greater exposure on the international stage and further validation of Shape Robotics as a credible partner in the process of global digital transformation and teaching children and young people in STEAM subjects. Thanks to the completed acquisition of Skriware, we have gained a new potential main market in Poland, which remains largely open to us. Both teams, which have merged into one over the past weeks, represent common values and goals. The work of twenty-two employees from Poland has a positive reception from the market and broad reach. Circumstances contributing to our growth are also the clear political emphasis on the EdTech sector and billion-dollar budgets related to Poland’s ambition to become one of the strongest technological societies in Europe. All this makes us believe that Poland may soon become a new key market for us, where we will achieve even better results than in Romania,” says André Fehrn, CEO of the Danish company.
Shape Robotics plays a significant role in the international educational technology market. Recently, André Fehrn represented the company to ambassadors and education ministers during the opening of a new Danish embassy in Moldova, where the company has just established its branch.
Still in this year’s first quarter, the Shape Robotics board plans to announce a new three-year development strategy. It will include expansion plans and the development of new products jointly with partners as well as projected financial targets. On the 29th of February, Shape Robotics plans to submit an annual report for 2023.
