Brief: Pexip Q4 EBITDA At NOK 10 Mln

Pexip Holding ASA

10/02/2022 15:35

Feb 10 (Reuters) - Pexip Holding ASA  PEXIP.OL :
    * GROWTH IN ANNUAL RECURRING REVENUES (ARR) AND GOOD COST
CONTROL
RESULTED IN A PROFITABLE QUARTER
    * PEXIP'S SUBSCRIPTION BASE MEASURED IN ANNUAL RECURRING
REVENUE
(ARR) REACHED USD 106.4 MILLION IN Q4 2021, UP FROM USD 81.9
MILLION IN Q4 2020
    * Q4 REVENUES AT NOK 266 MILLION, 16% GROWTH YEAR-ON-YEAR
    * Q4 EBITDA AT POSITIVE NOK 10 MILLION
    * OUTLOOK: IN LONG-TERM, PEXIP BELIEVES THAT GROWTH OF
ENTERPRISE-GRADE VIDEO COMMUNICATION WILL INCREASE DUE TO
EXPLOSIVE ADOPTION AND USAGE OF VIDEO COMMUNICATION FOLLOWING
COVID-19, AND IMPLEMENTATION OF SUSTAINABILITY MEASURES.
    * IN SHORT TERM, RENEWED COVID-19 RESTRICTIONS WILL CAUSE
LIMITED
USE OF OFFICES AND DELAYS IN ROLL-OUT OF NEW VIDEO ROOMS. IN
ADDITION, PEXIP'S CUSTOMERS HAVE EXPERIENCED DELAYS IN VIDEO
HARDWARE DELIVERIES DUE TO CHIP SHORTAGES.
    * DURING 2022 PEXIP EXPECTS ARR GROWTH TO AGAIN OVERTAKE
GROWTH IN
EMPLOYEES AND COST.
    * THIS WILL SUPPORT RETURNING TO A POSITIVE EBITDA DURING
2023.
    * IN MID-TERM, COMPANY EXPECTS ABOVE 25% EBITDA-RATE IN 2025
TOGETHER WITH REVENUE GROWTH ABOVE 25%. KEY ENABLER FOR ALL
THESE INITIATIVES IS ROBUST STRENGTHENING OF PEXIP TEAM DURING
2020 AND 2021

Source text for Eikon:  ID:nWkr2w1SQN 
Further company coverage:  PEXIP.OL 

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