Cxense ASA: End of quarter recurring revenue update

Oslo, Norway - 11 October 2018 - Cxense ASA (OSE: CXENSE) today announced that it in Q3 2018 signed 15 new contracts with Quarterly Recurring Revenue (QRR) effect of USD 229 thousand for the company's core offering. Of the new QRR in the core segment, USD 155 thousand came from new customers and the remaining USD 74 thousand from upsells to existing customers. Cxense had on average 9 effective sales quotas in Q3, down from 11.5 in Q2 2018. Sales efficiency was down 7% compared to the previous quarter, mainly driven by reduced sales activity during the summer holiday.

Full QRR effect from contracts notified to be terminated in Q3 2018 was USD -253 thousand for the core business. USD 39 thousand was downsell on existing customers while USD 214 thousand was from lost customers. Of the lost QRR, USD 84 thousand (33%) was the loss of one large customer, a subsidiary which had to implement a group-wide solution.

New contracts signed in Q3 included the sale of Conversion Engine to Singapore Press Holdings and Mainichi, leading media organizations in Asia and Japan. Another significant contract closed in the quarter was with Star Media Group, one of the largest media companies in Malaysia, who is implementing the Cxense DMP with Intelligent Personalization.

Cxense has seen increased interest for its software solutions during the quarter, especially around the recently launched Cxense Conversion Engine and new DMP features. This has had a positive impact on the sales pipeline adding several large opportunities.

About Cxense:

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 customers, and enables them to action this insight real-time in all marketing and sales channels. Cxense Conversion Engine empowers publishers to monetize insight into their audience's behaviour and preferences in order to increase subscription revenues. Cxense works with brands such as The Wall Street Journal, Aeon, Grupo Clarin, NBC, The Mainichi Newspapers, Universal, Singapore Press Holdings 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.' 

Investor Relations Contact:

Jørgen M. Loeng

Chief Financial Officer

Email: ir@cxense.com

Mobile: +47 906 60 062