STOCKHOLM, SWEDEN / ACCESSWIRE / July 27, 2023 / Bambuser AB (STO:BUSER)(FRA:5JL) Bambuser reports Q2 2023 ARR of SEK 126 million, representing a year over year decline of 2% at constant exchange rates ("CER"). The Adjusted EBITDA and free cash flow continues to improve. The cash balance closed at SEK 324 million, sufficient to take Bambuser to positive cash flow.
The Adjusted EBITDA margin improved by 13%p. year over year. The free cash flow margin also improved by 47%p. year over year. The Company has taken further efficiency measures, resulting in annual cost savings of c. SEK 32 million with full effect expected in the third quarter.
Bambuser signed several new contracts with enterprise customers across all markets in the quarter, including Lego and KOSÉ. The Company further renewed and expanded several contracts, including John Lewis, Clarins, Macy's, and YOOX Net-a-Porter.
Q2 2023 Key highlights
- Solid ARR traction with our biggest customers and continuous positive year over year momentum in profitability and cash flow.
- ARR of SEK 126.0 million, -2% y/y at constant exchange rates ("CER").
- Net Sales of SEK 49.0 million (49.7) with SaaS revenue growth of +5% y/y.
- Adjusted EBITDA of SEK -32.8 million (-44.6), representing a -59% margin and a 13%p. margin improvement vs. Q2 2022
- Free Cash Flow of SEK -26.0 million (-49.5), representing a -53% FCF margin and a 47%p. margin improvement vs. Q2 2022.
- End of quarter Cash Balance of SEK 324.0 million (442.7), which is sufficient to take Bambuser to positive cash flow.
The full Q2 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.
www.bambuser.com
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 2023-07-27 08:00 CEST.
Attachments
Q22023 InterimReport V03 FINAL
SOURCE: Bambuser AB