STOCKHOLM, SE / ACCESSWIRE / May 04, 2023 / Bambuser AB (STO:BUSER) (FRA:5JL) Bambuser reports Q1 2023 restated ARR of SEK 139 million, representing year-over-year growth of 26% at constant exchange rates ("CER"). The cash balance closed at SEK 347.8 million, sufficient to take Bambuser to positive cash flow.
The Adjusted EBITDA margin improved by 14%p. year-over-year following initiatives to trim the cost base and make the business more efficient. The free cash flow margin also improved by 35%%p. year-over-year.
Bambuser signed several new contracts with enterprise customers across all markets in the quarter, including Sonos, Cybex, and Sneakersnstuff. The Company further renewed and expanded several contracts, including Oriflame, Clarins, Shiseido, and Adastria.
Q1 2023 Key highlights
- Weaker macro impacting ARR growth but improved profitability and free cash flow y/y.
- Restated ARR of SEK 139.0 million, +26% y/y at constant exchange rates ("CER") driven by Americas and APAC.
- Net Sales of SEK 51.6 million (51.1) with SaaS revenue growth of +25% y/y.
- Adjusted EBITDA of SEK -29.0 million (-41.6), representing a -53% margin and a 14%p. margin improvement vs. Q1 2022
- Free Cash Flow of SEK -30.7 million (-48.2), representing a -59% FCF margin and a 35%p. margin improvement vs. Q1 2022.
- End of quarter Cash Balance of SEK 347.8 million (491.9), which is sufficient to take Bambuser to positive cash flow.
- ARR has been updated following an updated definition which includes discounts.
The full Q1 2023 report is published at https://ir.bambuser.com/report-archive
About Bambuser
Bambuser is the world's leading Video Commerce company with the largest customer base in its industry. More than 350 brands from 40+ countries leverage Bambuser's best-in-class solutions.
Bambuser is truly global with headquarters in Stockholm and offices in New York, London, Paris, Tokyo and Turku. Our rapidly growing team speaks more than 30 languages and 62% of our senior management is female.
Founded in 2007 as a livestreaming pioneer, Bambuser pivoted to Live Shopping in 2019, leveraging our legacy as industry-leaders in video-first technology.
Contact information
Corporate Communications, Bambuser AB
+46 8 400 160 00 | [email protected]
Certified Adviser
Erik Penser Bank AB
This information is information that Bambuser 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 persons set out above, at 2023-05-04 08:00 CEST.
Attachments
Bambuser InterimReport Q1 2023
SOURCE: Bambuser AB