Bambuser AB (publ) publishes H1 2018
First 6 months – a restart for Bambuser
January – June 2018
• Net sales amounted to 2,317 KSEK (3,468)
• Total income amounted to 2,746 KSEK (5,279)
• EBIT was -10,803 KSEK (-9,740)
• Net income was -10,935 KSEK (-7,848)
• Earnings per share of -0.72 SEK (-0.52)
• Cash flow from operating activities was -10,850 KSEK (-5,642)
• Cash at end of period was 16,273 KSEK (36,461)
CEO Maryam Ghahremani comments:
After assuming the position as Interim CEO of Bambuser March, 2018, with the mission to review the product and increase the short term revenues, I started working with the organization to form a clear and measurable strategy for 2018.
We introduced a new Go-to-Market strategy in early April, which we have started to launch in August. In the new strategy, we have reviewed and changed a great deal of our brand profile. We have shut down the Iris product brand and reverted to Bambuser. Doing this, we clarify our message and focus our marketing and communication around a brand that is well established in our target groups. The entire website has been redesigned, focusing on the digital conversion of visitors to customers. Here we have also added transparent pricing and the ability to subscribe directly on the website. In addition, there is an online calculator that helps our customers choose the right subscription plan.
The website design is optimized to drive digital purchases and to make it easy to convert trial users to new customers.
Another important change in the new brand platform is the review of our previous offering, which has prompted us to sell Bambuser as a single platform rather than as separate products. The focus and watchwords throughout this process have been to make it easy to understand the product and to make the purchase of our services as easy as possible.
I consider the first half of this year a restart for Bambuser. Our work to transition the company has gone according to plan and we are now in a favourable position to drive revenue through our new strategy. During the second half we will focus on optimizing our digital sales funnel and we expect to be able to show growth in customers as well as revenues in the latter part of 2018.
We have recruited a new COO/CPO from Spotify, who will head our new data-driven strategy. With Jesper Funck on board, it is our vision to gain market share at a rapid pace.
Early in the fall, I have a planned parental leave. During that time, Jesper Funck will take over the operational responsibility. The groundwork to capitalize on our new strategy is in place and I look forward to doing so together with all of our talented employees.
This information is information that Bambuser AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was sent for publication, through the agency of the contact persons set out below, on August 15, 2018, 08.30 CEST.
Certified Advisor
Västra Hamnen Corporate Finance is Certified Advisor (CA) to Bambuser AB (publ).
Contact information
Maryam Ghahremani, CEO
E-mail: maryam@bambuser.com
Mobile: +46 (0) 708 72 02 66
The full report is published at www.bambuser.com/ir.
About Bambuser
Bambuser is a Swedish software company that offers B2B solutions for mobile live video. Since 2007, the company has developed platforms for interactive live video by enabling live video streaming from mobile phones and webcams to the internet. The breakthrough occurred in 2010, when the company’s service was used to report the unrest in Egypt during the parliamentary elections. The following year, videos were produced via Bambuser and used in several television broadcasts throughout the world during the Arab Spring. Today, Bambuser’s live streaming technology has been installed in more than 50 million devices and has over the years reached 100s of millions of news consumers through companies like CNN, BBC, Al Jazeera, SkyNews, etc. Since 2014, Bambuser has chosen to focus on B2B, Business-to-Business, to increase the spread of the company’s products and strengthen its long term revenue potential. Among the customers are companies such as Associated Press, Schibsted and NRK.