Q-Free: Second quarter 2022 financial results
(Oslo, 8 July 2022) Q-Free ASA (Q-Free, OSE: QFR) reported an 31% year-on-year growth in recurring revenues, resulting in annualized recurring revenues of NOK 299 million. The total revenues in the second quarter of 2022 amounted to NOK 214 million, down from NOK 253 million in the same quarter in 2021 mainly due to component shortage. EBITDA in the second quarter ended at NOK 32 million. The order backlog continued to grow for the third consecutive quarter and ended at NOK 1.5 billion, up 20% year-on-year. Based on favorable macro trends related to efficient, safe, and sustainable