Pexip Accelerates Long-Term Annual Recurring Revenue Target - Delivers ARR Growth of 70%
Oslo, Norway, 10 November 2020 - The video communications provider, Pexip, today presented its quarterly results for the third quarter of 2020.· Pexip’s subscription base measured in Annual Recurring Revenue (ARR) reached USD 72.8 million in Q3 2020, up from USD 42.8 million in Q3 2019, representing an increase of 70% · The Company accelerates its long-term target of USD 300 million in ARR from 2025 to 2024 due to strong performance in 2020 and solid outlook. This is one year earlier than its previous target · Revenue of NOK 136.3 million in Q3 2020, up 68% from Q3 2019. Cloud Service