Sweden's Safeture Q3 operating revenue rises 10%
Sweden's Safeture Q3 operating revenue rises 10%
Overview
Sweden SaaS People Risk Management platform's Q3 operating revenue grew 10% yr/yr
Annual recurring revenue for Q3 rose 11% yr/yr to 63.5 mln SEK
Company reported positive EBIT margin of 7%, driven by upsell and new partnerships
Outlook
Company did not provide specific financial guidance for the current or future periods in its press release
Result Drivers
UPSELL ACTIVITY - Co said strong upsell activity contributed to revenue growth and offset higher churn
HIGHER CHURN - Co reported quarterly churn of 6.1%, mainly due to loss of one legacy client on an older custom-built solution
FOREIGN EXCHANGE TAILWIND - Co said weaker Swedish krona provided some tailwind to operating result
Company press release: ID:nWkr9p6CK3
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | SEK 15.60 mln | SEK 16 mln (1 Analyst) |
Q3 Adjusted EPS |
| SEK 0.03 |
|
Q3 EPS |
| SEK 0.03 |
|
Q3 Annual Recurring Revenue |
| SEK 63.50 mln |
|
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)