Bambuser AB (publ.) publishes Year-end report for 2018
A turnaround-year for Bambuser
Januari – December 2018
• Net sales amounted to 4 479 KSEK (5 966)
• Total income amounted to 5 146 KSEK (8 257)
• EBIT amounted to -19 648 KSEK (22 073)
• Net result amounted to -19 781 KSEK (-31 210)
• Earnings per share amounted to -1,30 SEK (-1,47)
• Cash flow amounted to -18 336 KSEK (-15 004 )
• Cash at the end of the period amounted to 7 898 KSEK (27 123)
CEO Maryam Ghahremani comments:
2018 was a year of change for Bambuser with a completely new management and chairman of the board and partly new board members. Since I started as CEO in March 2018, we have changed and slimmed the organization and positioned the company for a restart. We have redone much of our brand profile and removed the brand Iris to instead focus all our resources on our original brand Bambuser.
In early April we presented a new “Go-to-market” strategy with a focus on digital sales and after the launch in August we have gained growth in our digital channels. We will continue to sell Bambuser as a platform, but after being live for four months, the average revenue per user (ARPU) for these new customers has been low and did not meet our expectations.
We have therefore started an exploration phase in order to identify new areas, where Bambuser’s live video component can be vital. Among the areas we are now exploring are Live Commerce e-commerce solutions. Video is also already a frequently used medium in e-commerce, not least through influencers and social media. Our product team has now started to develop a foundation that will help us make our video platform a viable option in this, for us, new market.
Thanks to our new strategy, we have our ears to the ground, which helps us perceive the prevailing market trend and will give us better conditions for further developing our platform and focusing our sales resources. There is a lot going on in the market now and we are determined to be an important supplier of the engine behind many live video applications in coming years.
I look forward to an exciting 2019!
This is information that Bambuser AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was sent for publication, through the agency of the contact persons set out below, on February 21, 2019, 8:30 CET
Västra Hamnen Corporate Finance AB | tel: 040-20 02 50 | e-mail: firstname.lastname@example.org
Fredrik Ramberg, Chairman of the board | tel: 0703 620 815 | e-mail: email@example.com
Maryam Ghahremani, CEO | tel: 0708 720 266 | e-mail: firstname.lastname@example.org
The full report is published at bambuser.com/ir
About Bambuser AB
Bambuser is a Swedish software company that offers B2B solutions for live video. Since 2007, the Company has developed a platform for interactive live video broadcasts enabling live video streaming from mobile phones and web cams 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.
Bambuser’s live streaming technology has over the years been installed in more than 50 million devices and millions of news consumers through companies like CNN, BBC, Al Jazeera, Sky News Arabia, 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 as AP, Schibsted/Aftonbladet, NRK & Ilta-Sanomat.