Cxense ASA : End of quarter recurring revenue update
Oslo, Norway - 13 July 2018 - Cxense ASA (OSE: CXENSE) today announced that it in Q2 2018 signed 25 new contracts with Quarterly Recurring Revenue (QRR) effect of USD 316 thousand for the company's core software offering, the Data Management Platform with Intelligent Personalization. 60% of the new QRR came from new customers and the remaining from upsells to existing customers. With on average 11.5 effective sales quotas during Q2, sales efficiency was up 2% compared to Q1 2018.
Full QRR effect from contracts notified to be terminated (churn) in Q2 2018 was USD -199 thousand for the core business. The churn level was higher than the company's long term ambition, but an improvement of 9% compared to previous quarter.
Cxense experiences strong interest for its software solutions. International media agency for sport portals E2 Communications, the leading Czech publisher VLMedia and Danish Broadcasting Corporation, were among the new contracts signed in the quarter. VLMedia will implement the new Cxense Conversion Engine, a solution that enables publishers to increase subscription revenue through a dynamic paywall with personalization.
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 into their individual readers and 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 and many more. Cxense is headquartered in Norway with offices worldwide. 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