CXENSE ASA ANNOUNCES FIRST QUARTER RESULTS - Q1 2016
OSLO, NORWAY – 12 MAY, 2016 - CXENSE ASA TODAY REPORTED FINANCIAL RESULTS FOR THE FIRST QUARTER, WHICH ENDED 31 MARCH, 2016.
- Q1 2016 revenues of USD 6.3 million, up 61% compared to Q1 2015 revenues of USD 3.9 million.
- New Annualized Recurring Revenue (ARR) in Q1 2016 amounted to USD 1.6 million compared to USD 1.5 million in Q1 2015.
- In Q1 2016 the company executed the final organizational re-focusing following the 2015 acquisitions. This led to one-off restructuring costs in the quarter, but also a significantly lower adjusted OPEX run-rate into Q2 2016.
- The acquisitions and the re-focusing leaves a stronger Cxense. Our North American revenue base and organizational footprint has doubled. At the beginning of Q2 2016 we have 75 FTEs working within R&D developing our software suite compared to 39 FTEs in Q1 2015.
- Q1 2016 EBITDA was USD -1.97 million, but adjusted for restructuring one-offs and the full effect of the executed organizational re-focusing the EBITDA was USD -0.8 million. Our goal is EBITDA profitability in 2016.
- With its real-time data management and personalization software suite Cxense is well positioned in a growing digital economy.
“In Q1 2016, Cxense successfully continued the integration of Ramp Media, acquired late last year, with a focus on enhancing our product offerings and capturing cost synergies. We see on a daily basis that our real-time data technology and services, which enable personal and relevant engagement between our clients and their users, are gaining traction as companies experience the positive effects on conversion, digital revenues and brand value.”, says Ståle Bjørnstad, CEO of Cxense ASA.
The Q1 2016 report and presentation are attached to this notice.
Cxense ASA will hold its Annual General Meeting (AGM) on Thursday 12 May, 2016, at 09.00 am CET at Felix Konferansesenter, Bryggetorget 3, Oslo,Norway. The company is presenting its Q1 2016 results at 09:30 am CET or after the AGM has been adjourned. The Q1 presentation will also take place at Felix Konferansesenter, Bryggetorget 3, Oslo, Norway, and a live webcast will be available at:
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.
Customers include the Wall Street Journal, USA Today (Gannett), Grupo Clarin, El Pais, Globo, Bonnier, Naspers, The Weather Channel, Ebay, The Golf Channel, PGA, NBA, NFL, ABC News, FOX Sports, Singapore Press Holdings, South China Morning Post, AEON, DMM, Rakuten and many more. For more information: 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