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. Highlights: · 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. ·