BIMobject AB initiates cost reduction program and provides business update relating to COVID-19
Carl Silbersky, CEO of BIMobject: “The COVID-19 pandemic is having an impact on all of us and the business climate across the globe. The growing recurring revenues from our software-as-a-service offering provides a solid foundation for our company. Still, given the level of uncertainty in the world, we have made the hard decision to initiate a comprehensive SEK 50 million cost reduction program, to preserve our strong cash position and accelerate our path to profitability. At the same time, I’m proud to report that our platform continues its strong growth, with record user activity.”