Brief: Pexip Continues Strong Growth With 54% Increase In Annual Recurring Revenue

Pexip Holding ASA

08/04/2021 06:09

April 8 (Reuters) - Pexip Holding ASA  PEXIP.OL :
    * PEXIP CONTINUES STRONG GROWTH WITH 54% INCREASE IN ANNUAL
RECURRING REVENUE
    * PEXIP'S SUBSCRIPTION BASE MEASURED IN ARR REACHED USD 87.2
MILLION IN Q1 2021, UP FROM USD 56.7 MILLION IN Q1 2020,
REPRESENTING A YEAR-ON-YEAR INCREASE OF 54%
    * COMPANY IS ON TRACK TO REACH USD 300 MILLION IN ARR BY
2024.
    * NET REVENUE RETENTION RATE, REFLECTING PERCENT OF RETAINED
REVENUE FROM EXISTING CUSTOMERS, WAS 104% YEAR-ON-YEAR,
INCLUDING CHURN OF 9% YEAR-ON-YEAR

Source text for Eikon:  ID:nWkr9z57ph 
Further company coverage:  PEXIP.OL 

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