CXENSE ASA ANNOUNCES FIRST QUARTER 2017 RESULTS
OSLO, NORWAY – MAY 10, 2017 - CXENSE ASA TODAY REPORTED FINANCIAL RESULTS FOR THE FIRST QUARTER ENDING MARCH 31, 2017.
- Data management and personalization revenue of USD 4.3 million, up 21% year-over-year
- High Q1 churn driven by one large acquired video customer and continued decline of advertising portfolio
- Q1 2017 group revenue of USD 5.9 million, down 5.5% year-over-year due to churn
- EBITDA reflects continued investments in growth
- Strategic investments in partners mporium and RepKnight to strengthen Cxense’s offering, distribution and sales
- Ramp-up of sales team in North America on track – reflected in growing lead pipeline
“Cxense’s potential is significant and we will capture it. We have a unique technology addressing a large and growing market and we experience increasing recognition in the marketplace. The churn in the first quarter doesn’t change this. Some churn is legacy contracts, and some is a natural part of the business. The company has been through a major shift. Today we are a software-as-a-service company with an organization focused on data management and personalization. Our expanding sales team will leverage our quality penetration in the media industry when we increase sales and distribution moving forward. We see a record lead pipeline of sales opportunities and I expect that the second quarter 2017 and onwards will demonstrate the strength of Cxense and our software,” said Ståle Bjørnstad, Cxense CEO.
Material: The Q1 2017 report and presentation are attached to this notice and can also be found under the following link: https://www.cxense.com/investors/financial-reports
Webcast: Cxense ASA will present its Q1 2017 results at 09:30 am CET. The presentation will take place at the Felix Conference Center, Bryggetorget 3, Oslo, Norway. A live webcast will be available at: http://webtv.hegnar.no/presentation.php?webcastId=52445059
Cxense (pronounced "see-sense") enables the world's leading media, e-commerce and consumer brands to take control of their audience data to deliver more engaging and personalized user experiences. Businesses using Cxense's advanced real-time analytics, data management (DMP), advertising, search and personalization technology gain more engaged users, increased digital revenue and higher sales conversions. Cxense is headquartered in Oslo, Norway, with offices worldwide.
Cxense customers include the Wall Street Journal, USA Today (Gannett), Grupo Clarin, El Pais, Bonnier, Naspers, The Golf Channel, PGA, NBA, NFL, ABC News, Singapore Press Holdings, AEON, DMM and many more. For more information, go to: www.cxense.com, Twitter: @Cxense. Cxense is listed on the Oslo Stock Exchange with the ticker 'CXENSE'.
Investor Relations Contact:
Jørgen Loeng, Chief Financial Officer
Mobile: +47 906 60 062