Third quarter financial highlights

• ARR in constant currencies of MSEK 98.5 (93.0) at end of quarter, +6%
• Net sales of MSEK 30.8 (33.6), -8%, affected by lower volumes in non-recurring revenue and negative currency effects
• Net sales from recurring revenue of MSEK 23.8 (23.8), +0%, representing 77% of total net sales
• Operating earnings (EBIT) of MSEK -24.1 (-9.2)
• Basic earnings per share amounted to SEK -0.16 (-0.08)
• Group cash flow from operating activities of MSEK -24.7 (-9.3)

Significant events during the quarter

• bimobject.com reached 100,000 published product pages
• Lotta Askerlund, Global Head of HR and member of the management team, resigned and has been replaced through internal succession
• New release of bimobject.com 
• BIMobject was named the “best platform for specific BIM information in Europe” by USP Arch-Vision
• Stefan Larsson, founder of BIMobject, resigned from the company’s Board of Directors due to personal reasons

Presentation
Shareholders, analysts and the media are welcome to a digital report presentation on 29 October 2021 14:00 (CEST). The presentation will be held in English via Zoom.

To participate in the presentation please register using the following link:
https://zoom.us/webinar/register/WN_mODAWXWLSoqGQd9uvPaiqA

The complete report is available on the company’s website, https://investors.bimobject.com.

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CEO’s comments
Small quarter, big launches

Three major launches in a single quarter
The third quarter marked another milestone in BIMobject’s history. We launched no less than three major product upgrades in a single quarter:

• The completely redesigned bimobject.com, now live worldwide, provides users and customers with an updated, intuitive user experience
• An upgraded user interface makes it easier for our customers to understand their brand’s current and potential user reach
• Campaigns, a new marketing tool, allows customers to communicate at scale with interested users through our platform

The reception has been strong across the board measured by NPS scores and feature adoption. With this launch, we have set a new pace of product development. From now on BIMobject is committed to launching new features every quarter. Following the September launch captured above, our November launch will include refined audience analytics and marketing tools for customers.

A small quarter in sales
Commercially, the third quarter is typically a small quarter from a customer acquisition perspective due to vacations in Europe. The budget cycle in construction is strong and a majority of decisions are made in Q4 - Q1. Our customers’ marketing budgets remain impacted by COVID-19 this year but construction activity has bounced back, which provides optimism for 2022.

Our renewal business was impacted by churn that to a large degree relates to decisions made by customers already last year. At this point, we have renewed about 85% of our customers on new plans. We are now planning for and looking forward to a 2022 where virtually all customers will be on auto-renewing contracts, allowing our customer success teams to focus on relationship building and upsell opportunities, which will be positive for our net retention.

Driving sustainable construction forward
On January 1, 2022, Sweden plans to introduce climate declarations for new buildings. It is a small step, but a very important one, and it aligns with trends we see in many countries to finally address construction’s big sustainability challenge. 

We believe BIM will play an important role in enabling sustainable construction, by giving building designers the ability to compare and optimise the life cycle impact of their product selections. 

As a first step, we have made EPDs - Environmental Product Declarations - available for download through bimobject.com. However, our ambition is to take a much more active role in our industry’s sustainability journey going forward, and I look forward to sharing more of our plans with you.

Carl Silbersky
CEO