CXENSE ASA - ANNUAL REPORT 2017
OSLO, NORWAY - APRIL 13, 2017 - CXENSE ASA (OSE: CXENSE) TODAY PUBLISHED ITS ANNUAL REPORT FOR THE YEAR ENDED DECEMBER 31, 2017.
Cxense helps leading publishers and marketers across the globe transform their raw data into their most valuable resource.
Cxense’s world leading Data Management Platform (DMP) with Intelligent Personalization enables businesses to gather, analyze and act on data in real-time to increase conversion and revenue across all digital platforms.
- 2017 was a transformational year, where Cxense left its marketing application portfolio strategy to focus entirely on its fast-growing core business area Data Management with Intelligent Personalization
- The strategic direction set by a new board of directors will strengthen Data Management and Personalization software development, ensure a clearer market positioning and pave the way for significantly more efficient operations
- Christian Printzell Halvorsen was appointed CEO to execute the new strategic direction
- Core DMP and Personalization offering delivered 21.5% revenue growth in 2017 over 2016
- Cxense signed 105 recurring revenue contracts for DMP and Personalization solutions, of which 61% with new customers and 39% as upsell to existing clients
- The company is on track to realize USD 3 million in cost savings compared to the Q2 2017 level as a result of organizational optimization in line with new strategic direction
- Significant EBITDA improvement throughout H2 2017 reaching Q4 2017 EBITDA of -0.7 million, a loss reduction of 65% vs corresponding quarter of the previous year
- Non-core business divestments of USD 4.6 million and a USD 5 million share issue led to an end of year cash position of USD 10.2 million and financial run-way beyond break-even
- Strong R&D development lead to a gross margin increase of 6 percentage points in H2 2017, strengthened AI capabilities and important progress towards GDPR compliance
The Annual Report 2017 is attached to this notice and can be found on www.cxense.com/investors
Cxense helps publishers and marketers across the globe to transform their raw data into their most valuable resource. Cxense's leading Data Management Platform (DMP) with Intelligent Personalization, gives companies unprecedented insight about their individual customers, and enables them to action this insight real-time in all marketing and sales channels. Benefits include increasing digital revenue and user loyalty. Cxense works with brands such as Aeon, Wall Street Journal, Grupo Clarin, NBC Universal, Aller Media and many more. Cxense is headquartered in Norway with offices worldwide and the company is listed on the Oslo Stock Exchange with the ticker 'CXENSE.' For more information: www.cxense.com
Investor Relations Contact:
Jørgen Loeng, Chief Financial Officer
Mobile: +47 906 60 062