o ARR +39% year-on-year to NOK 186 million, with organic ARR growth of 19%
o Revenue +32% to NOK 44.2 million, with organic growth of 18%
o Investing in growth, with 48% increase in workforce to 145 employees
o EBITDA loss of NOK 7.4 million and NOK -3.6 million adjusted for special cost
items, reflecting continued growth investments 
o Continuing to broaden the product offering with acquisition of Egreement AB in
Sweden in September and of Keyforce AS in Norway in October
o Including the Keyforce acquisition, current ARR exceeds NOK 200 million

Høvik, 4 November 2021: House of Control (HOC) reported 32% year-on-year revenue
growth to NOK 44.2 million in the third quarter of 2021. Annual recurring
revenue (ARR) increased by 39% to NOK 186 million, almost evenly split between
organic growth and acquisitions.

"We continue to grow organically, with new sales increasing from the same period
last year and net retention turning positive in the third quarter. We also
continue to broaden the scope of our solutions through acquisitions. Egreement
further strengthens our product portfolio for business processes, whereas
Keyforce strengthens our business intelligence and analytics offering," says CEO
Lasse Sten in House of Control.

Including Egreement and Keyforce the company now serves around 2,850 customers
with around 295,000 end-users in 65 countries. Following the string of
acquisitions over the past year and a half, House of Control now splits its
growth portfolio into the four product segments Control, Business Process,
Compliance & Forecasting, and Insight, which combined account for more than 90%
of the ARR. The remaining less than 10% reflects 'on-premise' contracts taken
over through the acquisition of DinERP last year.

"We have built a strong suite of products that make the CFO's work both easier
and more efficient, including new CFO dashboards that enable him or her to get
full overview in one single system with one single logon. We see a great market
opportunity for this portfolio and have continue to invest in more salespeople
and customer success teams to take the full benefit of this opportunity," says
Sten.

The company is investing in continued growth and has increased the workforce by
48% over the past year. This affects current earnings, and the company reports
an EBITDA-loss of NOK 7.4 million for the third quarter. Adjusted for special
cost items, the EBITDA-loss was NOK 3.6 million.

For the first nine months of the year, revenues increased by 43% year-on-year to
NOK 124.5 million, with a reported EBITDA-loss of NOK 10.0 million and a
positive adjusted EBITDA of NOK 1.5 million.

House of Control reiterates its long-term target to build an ARR base of NOK 500
million by the end of 2025, with an EBITDA margin above 40%.

Note that the company has transitioned accounting standard from NGAAP to IFRS,
and that figures for previous periods have been restated accordingly. Please
also find the IFRS financial statement for 2020 with comparable figures for the
two preceding years as an attachment along with the interim report for the third
quarter and first nine months 2021.

The company will host a webcast today at 08:00 CET. Please use the following
link to access the presentation:

https://channel.royalcast.com/landingpage/hegnarmedia/20211104_3/

The presentation will be followed by a Q&A session. Questions may be asked in
writing during and after the presentation in the comments section below the
webcast window. The report, presentation and the link to the webcast will also
be made available at https://www.houseofcontrol.com/investor-relations.

For further information please contact:
CFO Carl Fabian Flaaten
Cell: +47 90 04 31 84
Email: carlfabian@houseofcontrol.no	
 
About House of Control:
House of Control develops SaaS (Software as a Service) solutions. These are
digital tools that the CFO can easily apply to improve the performance of the
finance department and - ultimately - the whole company. The CFO toolkit
contributes to at least four important tasks: Cut costs, save time, reduce risk,
and improve compliance - all key ingredients of a better-working finance
department. Private and public enterprises use the software to manage contracts
and assets, comply with IFRS 16 requirements, communicate with suppliers, and
organize procurement. House of Control's strong revenue growth is supported by a
unique salesforce, and approximately 95 percent of sales are annual recurring
revenues.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.