Stockholm, Sweden, August 21, 2020

The complete version of the First Half Year 2020 Interim Report is attached in this press release and is available on Hoylu’s web site (www.hoylu.com).

“Whilst Hoylu’s business in the past was centered around the HoyluWall and software bundles, our focus has shifted to growing the user base of software as a service (SaaS) subscriptions. Remote work has become the new normal and with better collaboration tools organizations can offer more freedom and flexibility to geographically dispersed teams to work remotely or on-site, as the needs demand – reducing time wasted and travel expenses. Recent studies in the US show that more than 50% of the US workforce holds a job that is compatible with remote work and that we will see a significant upswing in adoption to 25-30% of the workforce working at home on a multiple-days-a-week basis by the end of 2021.” says Hoylu Chief Executive Officer, Stein Revelsby.

FIRST HALF YEAR 2020
 - Revenues for the first half year were SEK 16.1 million (12.7)
 - Gross margin was 69 percent (69)
 - Operating loss amounted to SEK 13.5 million (-15.6) *
 - Profit after tax amounted to SEK -15.5 million (-19.7)
 - Earnings per share amounted to SEK -0.50 (-1.33)

SECOND QUARTER 2020
 - Revenues for the second quarter were MSEK 8.0 (6.2)
 - Gross margin was 69 percent (68)
 - EBITDA for the first quarter was MSEK -5.7 (-6.5) *
 - Operating loss was MSEK 7.3 (-8.0) *
 - Profit after tax amounted to MSEK -8.4 (-11.2)
 - Earnings per share amounted to SEK -0.21 (-0.76)

* Excluding the administrative assessment of MSEK 2.1 for the period in 2019. Hoylu has appealed the assessment.

For more information, please contact:
Stein Revelsby, CEO at Hoylu +1 213 440 2499 Email: sr@hoylu.com
Karl Wiersholm, CFO at Hoylu +1 425 829 2316 Email: kw@hoylu.com

About Hoylu
Hoylu’s mission is to make remote work and information sharing easy. Through our customizable Connected Workspaces™ we deliver software solutions for companies, organizations and individuals across virtually all industries that enable all teams, big and small to work efficiently and securely in an intuitive and easy workflow. For more information: www.hoylu.com.

Ticker symbol: Hoylu
Marketplace: Nasdaq First North Growth Market
Certified Adviser: Mangold Fondkommission AB +46 (0) 8 50 301 550, ca@mangold.se

Publication
This information is information that Hoylu AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:45 CEST on August 21, 2020.