Bifogade filer
2023Q3 Report DIVIO
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Informationsteknik |
| Industri | Programvara |
SUMMARY OF THE REPORT
Third quarter: 1 JUL 2023 TO 30 SEP 2023
- Subscription revenue increased by approximately 12% to KSEK 4,821 (4,288)
- MRR in September was KUSD 151 (141)
- EBIT was KSEK -3,618 (-2,321)
- EPS before dilution was SEK -0.02 (-0.03)
- Cash position was KSEK 20,783 (3,920)
Year to Date: 1 JAN 2023 TO 30 SEP 2023
- Subscription revenue increased by approximately 14% to KSEK 13,637 (11,916)
- EBIT was KSEK -10,423 (-7,936)
- EPS before dilution was SEK -0.06 (-0.09)
SIGNIFICANT EVENTS (Third quarter)
- Prepayment of 21 MSEK received during the quarter
- Fredrik Hansson recruited as CPO
- New Enterprise client in the financial sector signed
- Payment from warrants of 4 MSEK minus costs received (87.5% participation) and shares have been issued
SIGNIFICANT EVENTS (Year to Date)
- The funds from the issue of units was received in January and the bridge loan was repaid. Funds from warrants also received in the period totalling 15 MSEK before costs.
- Increased lead generation and renewal of largest client with a 2.5 year agreement
- Strengthening the team by recruitment of sales and engineering resources
SIGNIFICANT EVENTS AFTER THE QUARTER
- No significant events
| Third quarter (3 months) | Year to date (9 months) | |||||||
| KSEK | 2023 | 2022 | % | 2023 | 2022 | % | ||
| Key Financials | ||||||||
| Subscription revenue | 4,821 | 4,288 | 12% | 13,637 | 11,916 | 14% | ||
| Professional services revenue | 133 | 206 | -36% | 1,087 | 1,613 | -33% | ||
| Net sales | 4,953 | 4,495 | 10% | 14,724 | 13,530 | 9% | ||
| Total revenue | 6,778 | 5,729 | 18% | 19,059 | 16,994 | 12% | ||
| Costs | -8,852 | -6,680 | -33% | -25,009 | -20,907 | -20% | ||
| EBITDA | -2,075 | -951 | -118% | -5,949 | -3,913 | -52% | ||
| Dep / Am | -1,543 | -1,370 | -13% | -4,473 | -4,023 | -11% | ||
| EBIT | -3,618 | -2,321 | -56% | -10,423 | -7,936 | -31% | ||
| MRR (KUSD) | 151 | 141 | 7% | |||||
| Cash position | 20,783 | 3,920 | 430% | |||||
CEO COMMENTS
I am delighted to share with you the latest developments and achievements at Divio. It has been an exciting and productive period, and I want to express my gratitude to our dedicated team, partners, and stakeholders for their unwavering support and commitment.
Successful Capital Raise through Warrants
Our recent efforts to secure additional funding through the subscription of warrants have proven to be successful. We have successfully raised 15 MSEK before costs from the unit issue and warrants. This influx of capital not only strengthens our financial position but also positions us to seize new opportunities and further enhance our operations. It underscores our commitment to strategic growth and building strong partnerships for expansion.
Impressive Sales Growth
Our sales team has continued to excel, resulting in an 12% increase in our sales figures and we are right now on an all time high MRR and we continue to grow. This accomplishment highlights their relentless dedication and commitment to delivering exceptional products and services to our valued clients. We are working diligently to improve our sales engine and strategy to convert our increased sales pipeline into signed deals and achieve our ambitious goals for the upcoming quarters. We are also glad to further improve the collaboration with AWS and have many potential conversations in the pipe based on this partnership.
Welcoming a New Chief Product Officer (CPO)
I am pleased to announce the addition of a new Chief Product Officer to our team. Our new CPO, Fredrik Hansson, brings a wealth of experience and expertise to our leadership. Fredrik will play a pivotal role in shaping our product development strategy and driving innovation across the organization. We are confident that this addition will contribute significantly to the continued excellence of our platform, existing customers increasing their usage and increased attractiveness to potential customers, contributing to increased sales and success.
Client Prepayment Received
We have received a prepayment from one of our valued clients, further strengthening our financial position and enhancing our cash flow. This payment is a testament to the trust and confidence our clients have in our offerings, and we remain committed to delivering exceptional value to them.
Comprehensive strategic deep dive
We have spent a lot of time on extensive strategic work through deep diving into both historical data and future scenarios in order to create a clear plan for how to increase growth and reach break-even. This work was reinforced by research within our CTO's Executive MBA program. We are excited to implement the strategies outlined in this plan to achieve our financial goals.
Welcoming New Client Novogradac
We are thrilled to welcome among others our new client, Novogradac, to our growing list of customers. This partnership is significant as it not only expands our client base but also leads to a substantial increase in Monthly Recurring Revenue (MRR). Novogradac is an important client with high growth potential, high demands on compliance and security, and we are well-prepared to meet their needs. Apart from Novogradac, we have on-boarded and developed cooperations with other new customers, existing clients and partners.
In conclusion, these achievements and developments reflect the dedication and hard work of our entire team. We remain committed to pursuing excellence in all aspects of our business and are enthusiastic about the future prospects of Divio. Together as a team, backed up by our excellent investors, we will continue to work diligently to achieve our ambitious goals and drive our company to new heights.
Thank you for your dedication and commitment.
Sincerely, Jon Levin, CEO