Bambuser AB Publishes Interim Report for Q1 2021

Rhea-AI Summary

Bambuser had an exceptional Q1 2021, reporting a staggering sales growth of 844% year-over-year. The company converted numerous short-term agreements into long-term contracts, leading to a 63% increase in monthly recurring revenue (MRR) compared to Q4 2020, and an impressive 550% rise from Q1 2020. Total income reached 21.3 MSEK, while net income was -55.5 MSEK. The firm also expanded its product offerings and opened a new office in Tokyo to boost its APAC presence. Cash reserves stood at 744.2 MSEK, reflecting strong financial positioning.

Positive

• Sales increased by 844% year-over-year.
• Monthly Recurring Revenue (MRR) grew by 550% compared to Q1 2020.
• Total income reached 21.3 MSEK, up by 682% YoY.
• Conversion of short-term contracts to long-term agreements boosted revenue predictability.
• Expansion into new markets, including opening an office in Tokyo.

Negative

• Net income declined to -55.5 MSEK from -7.2 MSEK YoY.
• EBIT also showed a loss of -55.6 MSEK, indicating ongoing operational challenges.

STOCKHOLM, April 28, 2021 /PRNewswire/ -- Bambuser experienced its best quarter since inception, with robust global demand lifting sales +844 percent. During the quarter, Bambuser strengthened enterprise partnerships and converted many short-term pilot and proof of concept agreements to long-term contractual relationships. As a result, the Company saw a significant increase in monthly recurring revenue (MRR), which grew 63 percent compared to Q4 2020 and 550 percent versus the first quarter of 2020. The interim report has now been published and can be found at bambuser.com/ir.

During Q1 2021, Bambuser enhanced its product offering, adding the One-to-Many Starter and One-to-Many Lite solutions. Bambuser expanded its market presence, opening an office in Tokyo to seize opportunities throughout the APAC region. Business development efforts also accelerated in Latin America, DACH (Germany, Austria and Switzerland) and the U.S.

First quarter of 2021 (January — March 2021)

• Total contract value (TCV) of new agreements: 29.8 MSEK
• Total income: 21.3 MSEK (2.7), +682% YoY
• Net sales: 16.7 MSEK (1.8), +844% YoY
• Monthly Recurring Revenue (MRR): 3.9 MSEK (0.6), +550% YoY
• Net income: -55.5 MSEK (-7.2)
• EBIT: -55.6 MSEK (-7.2)
• Earnings per share of -0.28 SEK (-0.07)
• Cash at end of period: 744.2 MSEK (7.5)

For environmental and cost reasons, Bambuser AB has decided not to print the report. A printout may be distributed to shareholders upon request.

This disclosure contains information that Bambuser is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on April 28, 2021, 08:00 CEST.

Contact information

Sherry Smith, Corporate Communications, Bambuser AB | +46 8 400 160 00 | ir@bambuser.com

Certified Adviser

Erik Penser Bank AB | +46 8 463 83 00 | certifiedadviser@penser.se

About Bambuser AB

Bambuser is a software company specializing in interactive live video streaming. The Company's primary product, Live Video Shopping, is a cloud-based software solution that is used by customers such as global e-commerce and retail businesses to host live shopping experiences on websites, mobile apps and social media. Bambuser was founded in 2007 and has its headquarters in Stockholm.

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https://news.cision.com/bambuser/r/bambuser-ab-publishes-interim-report-for-q1-2021,c3335046

The following files are available for download:

https://mb.cision.com/Main/15749/3335046/1408584.pdf	Press Release
https://mb.cision.com/Public/15749/3335046/b16536070f7b1d09.pdf	Bambuser Interim Report Jan-Mar 2021

 

View original content:http://www.prnewswire.com/news-releases/bambuser-ab-publishes-interim-report-for-q1-2021-301278674.html

SOURCE Bambuser

FAQ

What was Bambuser's sales growth in Q1 2021?

Bambuser reported a sales growth of 844% year-over-year in Q1 2021.

How much did Bambuser's monthly recurring revenue increase?

Monthly recurring revenue (MRR) increased by 550% compared to Q1 2020.

What were Bambuser's total income figures for Q1 2021?

Total income in Q1 2021 was 21.3 MSEK, a 682% increase year-over-year.

What were the financial results for Bambuser in Q1 2021?

Bambuser had a net income of -55.5 MSEK and EBIT of -55.6 MSEK in Q1 2021.

Where did Bambuser open a new office in 2021?

Bambuser opened a new office in Tokyo to enhance its presence in the APAC region.