Cxense ASA announces first quarter 2018 results

Oslo, Norway - 9 May 2018 -  Cxense ASA today reported financial results for the first quarter ending 31 March 2018.

Highlights:

- Strong growth for core DMP and Personalization segment

  • 22% YoY and 6% sequentially
  • 43% YoY gross growth partly offset by high churn

- 81% gross margin

  • Up 1pp sequentially on further hosting efficiencies

- Q1 2018 EBITDA of USD -0.4m, ahead of -0.5m target

- Strengthened product offering

  • New offering: Conversion Engine
  • DMP feature improvement through Enreach acquisition

- Development leadership strengthened by the appointment of new CTO and CPO

- Financial runway beyond break-even with USD 7.7 million cash position

Christian Printzell Halvorsen, CEO of Cxense, commented:

"We delivered our best EBITDA result ever in the first quarter and met our post-restructuring financial targets. We closed several new, large contracts in line with our strategy to serve more advanced customers, and our ability to serve these customers was further strengthened by our recent acquisition of Enreach. There is growing demand from existing and new clients to use data for personalization, and we also experience increased interest for our subscription optimization solutions."

Material: The Q1 2018 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/presentation: Cxense ASA will hold its annual general meeting today at 08:30 CET at the Felix Conference Center, Bryggetorget 3, Oslo, Norway.  

The company will present its Q1 2018 results at 09:00 am CET or after the AGM has been adjourned. The Q1 presentation will also be held at Felix Konferansesenter and a live webcast will be available at:  http://webtv.hegnar.no/presentation.php?webcastId=83481704

Investor Relations Contact:

Jørgen Loeng, Chief Financial Officer

Email: ir@cxense.com

Mobile: +47 90 66 00 62