(Oslo, Norway – May 27, 2020) Pexip Holding ASA reported NOK 150.1 million in
revenue for Q1 2020, an increase of 67% compared to the Q1 2019 revenue of NOK
89.9 million. Revenue from Infinity, Pexip’s self-hosted software offering,
amounted to NOK 111.8 million, up from NOK 66.8 million in Q1 2019. Revenue from
cloud services amounted to NOK 38.3 million in Q1 2020, up from NOK 23.1 million
in Q1 2019. EBITDA was NOK 35.8 million in Q1 2020 (24% of revenue) compared to
NOK 19.8 million in Q1 2019 (22% of Revenue).

The subscription base, measured in Annual Recurring Revenue (ARR), grew to USD
57 million at the end of Q1 2020, which is an increase of 50% from USD 38
million at the end of Q1 2019. EMEA is the largest geography with USD 31 million
(y-o-y growth of 53%), followed by Americas at USD 20 million (y-o-y growth of
55%) and APAC at USD 6 million (y-o-y growth of 27%).

Odd Sverre Østlie, Pexip CEO, comments: “Pexip has experienced a significant
increase in demand for our video conferencing platform as a result of Covid-19.
We have seen a 7X spike in usage across existing and new customers, and the
whole Pexip team has been working extremely hard to support our customers
through these challenging times. Now we are seeing that the situation has
stabilized as many organizations have got tools and processes in place for
remote working. We do, however, believe that Covid-19 will have a long-term
effect on the demand for video communication as more people become used to
meeting virtually.”

The presentation will be held on Wednesday, May 27th, 2020 at 08:00 CEST in
English and will be led by Odd Sverre Østlie (CEO), Øystein Hem (CFO), and
Michel Sagen (Chairman of the Board). Please register to view the live webcast
here: https://www.pexip.com/q1-2020-results-webinar

For further information, please contact: 
 
IR: Øystein Hem, CFO +47 992 34 596, IR@Pexip.com
Press: Lars-Einar Petterson, +47 934 48 827, lars.einar.petterson@pexip.com

About Pexip 
Pexip is a global technology company delivering a video-first meeting platform
with 15% of the Global Fortune 500 companies as customers. The Company’s product
offering is a highly scalable, cloud-native meeting platform that is deployable
either as a service or a self-hosted solution in any public or private cloud
environment. All offerings build on Pexip’s unique Infinity technology, and are
delivered via a recurring subscription-based business model. The Company has
more than 300 channel partners located in about 75 countries worldwide.