Bifogade filer
2023Q2 Report DIVIO
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Informationsteknik |
| Industri | Programvara |
SUMMARY OF THE REPORT
Second quarter: 1 APR 2023 TO 30 JUN 2023
- Subscription revenue increased by approximately 14% to KSEK 4,376 (3,844)
- MRR in June was KUSD 145 (136)
- EBIT was KSEK -3,227 (-2,357)
- EPS before dilution was SEK -0,01 (-0,03)
- Cash position was KSEK 3.151 (7.953)
Year to Date: 1 JAN 2022 TO 30 JUN 2023
- Subscription revenue increased by approximately 16% to KSEK 8,816 (7,628)
- EBIT was KSEK -6,804 (-5,615)
- EPS before dilution was SEK -0,04 (-0,07)
SIGNIFICANT EVENTS (Second quarter)
- Renewal of client secured order value of 29 MSEK whereof 21 MSEK is prepayment due in August 2023
- 87.5% participation in warrants exercise (TO 1) led to a raise of 4,1 MSEK before costs
- Breakthrough project with Swiss Government
SIGNIFICANT EVENTS (Year to Date)
- The funds from the issue of units was received in January and bridge loan repaid
- Increased lead generation according to the new sales strategy
- Strengthening the team by recruitment of sales and engineering resources
SIGNIFICANT EVENTS AFTER THE QUARTER
- The funds raised by warrants were paid out to the company in July as shares were registered
| Second quarter (3 months) | Year to date (6 months) | |||||||
| KSEK | 2023 | 2022 | % | 2023 | 2022 | % | ||
| Key Financials | ||||||||
| Subscription revenue | 4,376 | 3,844 | 14% | 8,816 | 7,628 | 16% | ||
| Professional services revenue | 733 | 1,290 | -43% | 954 | 1,407 | -32% | ||
| Net sales | 5,109 | 5,133 | 0% | 9,770 | 9,035 | 8% | ||
| Total revenue | 6,418 | 6,255 | 3% | 12,282 | 11,265 | 9% | ||
| Costs | -8,174 | -7,379 | -11% | -16,156 | -14,227 | -14% | ||
| EBITDA | -1,756 | -1,124 | -56% | -3,874 | -2,962 | -31% | ||
| Dep / Am | -1,471 | -1,233 | -19% | -2,930 | -2,653 | -10% | ||
| EBIT | -3,227 | -2,357 | -37% | -6,804 | -5,615 | -21% | ||
| MRR (KUSD) | 145 | 136 | 7% | |||||
| Cash position | 3,151 | 7,953 | -60% | |||||
CEO COMMENTS
As the CEO, I am thrilled to announce some significant achievements and milestones that our company has accomplished.
Over the past year, our sales team has worked relentlessly, leading to a notable boost in our sales figures. We've successfully increased the MRR by 9 kUSD since the start of the year, marking a rise of 7%. Additionally, our subscription revenues have increased by 16% compared to H1 previous year. This surge in growth, along with surpassing our internal sales goals, exemplifies the unwavering commitment and dedication of our entire team to provide outstanding products and services to our clientele. In addition to the actual business, we have also further improved the quality of the leads we have in our pipeline and have many interesting dialogues with potential customers. We have also finally initiated dialogues together with AWS, which is another important contribution to the sales targets for the year.
Building on our achievements in sales, we are also delighted to announce the renewal of a three year contract with Fidelity, among our most valued clients. Their continued partnership underscores their confidence in our offerings and further cements our standing in the industry. We are also delighted to onboard the Swiss Army as a new customer, an important customer with a high potential and high demands on compliance and security.
We're excited to announce that we've bolstered our company's financial position by successfully securing additional funding through equity via the subscription of warrants. This total inflow of 14 MSEK before costs from the unit issue and warrants, empowers us to seize new opportunities and elevate our operations. It also underscores our dedicated growth strategy, centered on pursuing new investments and building strategic partnerships to bolster our expansion.
Our teams are the pillars of our success. Given our improved financial position, we've prioritized investing in hiring top talent and equipping them with the resources they need. This proactive approach has driven enhanced efficiency and sparked innovation throughout the organization. We are committed to make this human capital investment thrive and yield substantial results. In our pursuit of shaping our offering as a distinct IDP (Independent Internal Development Platform), we've established the groundwork for a comprehensive integrated development plan. This strategy serves as a beacon for our growth and sustainability initiatives, ensuring our adaptability in a swiftly changing market landscape.
I believe these accomplishments reflect the dedication and commitment of our entire team. We remain focused on pursuing excellence in all aspects of our business, and we are excited about the future prospects of our company. I’m thankful to all our employees, partners, and stakeholders for their continuous support and hard work. Together, we'll strive to reach the ambitious goals we've set for the upcoming quarters and the whole company is working extremely hard to convert our increased sales pipe into signed deals.
Regards
Jon Levin, CEO