Bifogade filer
2023Q4 Report DIVIO
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Informationsteknik |
| Industri | Programvara |
SUMMARY OF THE REPORT
Fourth quarter: 1 OCT 2023 TO 31 DEC 2023
- Subscription revenue increased by approximately 15% to KSEK 5,011 (4,373)
- MRR in December was KUSD 153 (136)
- EBIT was KSEK -3,871 (-2,463)
- EPS before dilution was SEK -0.02 (-0.01)
- Cash position was KSEK 12,637 (2,057)
Full Year: 1 JAN 2023 TO 31 DEC 2023
- Subscription revenue increased by approximately 14% to KSEK 18,648 (16,290)
- EBIT was KSEK -14,293 (-10,399)
- EPS before dilution was SEK -0.08 (-0.11)
Significant events (Fourth quarter)
- Strengthening the team by recruitment of CPO
- Preparation of the launch of Open Cloud self-service offering
- New client signed where Divio will enable their transition to the cloud
Significant events (Full year)
- The funds from the issue of units was received in January and the bridge loan was repaid. Funds from warrants were also received in the period totaling 15 MSEK before costs (units and warrants).
- Increased lead generation and renewal of largest client with a 2.5 year agreement
Significant events after the quarter
- Divio receives a contract extension of the value of approximately 12 MSEK whereof 8 MSEK is to be prepaid in Q1 2024
| Fourth quarter (3 months) | Full year (12 months) | |||||||
| KSEK | 2023 | 2022 | % | 2023 | 2022 | % | ||
| Key Financials | ||||||||
| Subscription revenue | 5,011 | 4,373 | 15% | 18,648 | 16,290 | 14% | ||
| Professional services revenue | 129 | 937 | -86% | 1,216 | 2,551 | -52% | ||
| Net sales | 5,140 | 5,310 | -3% | 19,864 | 18,840 | 5% | ||
| Total revenue | 8,017 | 6,421 | 25% | 27,076 | 23,415 | 16% | ||
| Costs | -10,376 | -7,417 | -40% | -35,384 | -28,325 | -25% | ||
| EBITDA | -2,360 | -997 | -137% | -8,309 | -4,910 | -69% | ||
| Dep / Am | -1,511 | -1,466 | -3% | -5,984 | -5,489 | -9% | ||
| EBIT | -3,871 | -2,463 | -57% | -14,293 | -10,399 | -37% | ||
| MRR (KUSD) | 153 | 136 | 13% | |||||
| Cash position | 12,637 | 2,057 | 514% | |||||
CEO COMMENTS
I am thrilled to update you on the recent progress and accomplishments at Divio. This has been a dynamic and fruitful period, and I extend my appreciation to our committed team, partners, and stakeholders for their steadfast support and dedication.
Performing sales team
After a long period where we tested different sales capacities, we have now found a functional team that has both the understanding of our product and the ability to sell. Our sales team has been delivering good results, showcasing steady growth in the pipeline trajectory. We've successfully landed a few and cultivated numerous promising leads, both small and large, in our pipeline, reflecting the team's dedication and effectiveness. Of the customers we managed to get, Enio is of particular interest because thanks to Divio's solution, they can convert from being a traditional software company to a modern SaaS company.
Sales achievements
Additionally, we're pleased to announce the three-year renewal of our largest customer application support, further solidifying our relationships and demonstrating the trust our clients place in us, as evidenced by their prepayment commitment.
Organisational improvements
In the last report, I welcomed our new Chief Product Officer (CPO) Fredrik Hansson to our team and it has proven to be a pivotal move. With his expertise and experience, we are enhancing our development processes and implementing a more efficient, clear, and strategic product vision, positioning us for sustained success in the market. A product vision is essential for a product company to remain innovative and be perceived as a frontier within PaaS solutions. Fredrik has also extended and reorganised the team to be more productive and faster in developing new essential customer-oriented features.
Relaunch of open cloud/self-service
Furthermore, we're excited to share the launch of our new open cloud offering, an initiative that will both let smaller customers get access to our platform and customers that we can grow within a highly scalable way without almost any support from Divio. Most importantly, it is a solution that will further support our sales team as potential leads can explore our solution on their own during the sales process. This milestone underscores our dedication to staying at the forefront of industry trends and meeting the evolving needs of our clients.
In summary, the accomplishments and advancements outlined here are a testament to the commitment and efforts of our entire team. Our steadfast dedication to excellence across all facets of our business fuels our optimism about Divio's future prospects. As a unified team, supported by our outstanding investors, we will persist in working diligently to realise our ambitious goals and propel our company to even greater heights.
Thank you for your dedication and commitment.
Sincerely, Jon Levin, CEO