Brief: Pexip Holding Q2 EBITDA Turns To Loss Of NOK 5.9 Million

Pexip Holding ASA

12/08/2020 06:12

Aug 12 (Reuters) - Pexip Holding ASA  PEXIP.OL :
    * Q2 OPERATING REVENUE NOK 163.1 MILLION VERSUS NOK 82.2 MILLION YEAR AGO
    * Q2 EBITDA LOSS NOK 5.9 MILLION VERSUS PROFIT NOK 11.6 MILLION YEAR AGO
    * Q2 CONTRACT BASE MEASURED IN ARR OF USD 65.8 MILLION, GIVING A YEAR-ON-YEAR GROWTH IN ARR
OF 64%
    * IN ORDER TO ACCELERATE GROWTH CO INTENDS TO INVEST PROCEEDS INTO INCREASING SALES AND
MARKETING
PRESENCE AS WELL AS RESEARCH AND DEVELOPMENT CAPABILITIES
    * PEXIP INTENDS TO DEPLOY UP TO 70% OF THE NET PROCEEDS OVER THE NEXT THREE YEARS.
    * COMPANY IS TRACKING AHEAD OF ITS PLAN TO REACH USD 300 MILLION IN ARR BY 2025
    * HAS A LONG-TERM AMBITION TO REACH AN ANNUAL RECURRING REVENUE OF USD 300 MILLION BY 2025,
AND
PEXIP ARE TRACKING ABOVE THAT PLAN SO FAR IN 2020

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

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