Cxense ASA : End of quarter recurring revenue update
Oslo, Norway – 13 April 2018 – Cxense ASA (OSE: CXENSE) today announced that it for Q1 2018 signed 22 new contracts with full Quarterly Recurring Revenue (QRR) effect of USD 335 thousand for the company’s core offering, the Data Management Platform with Intelligent Personalization software. The new QRR level was 9% above the average for the three preceding quarters and with average 12.5 effective sales quotas this represented a good sales efficiency.
Full QRR effect from contracts notified to be terminated during Q1 2018 amounted to USD -219 thousand for the core business. 54% of lost QRR came from 17 smaller customers with average QRR level USD 7 thousand compared to average QRR of 16 thousand for the new contracts. Cxense is now focusing on larger new contracts with solid implementations and more focused account management to reduce churn.
Japanese credit card company Credit Saison and Dun & Bradstreet, the global leader in commercial data, analytics and insights for businesses, were among the new customers. The leading Belgian media group Mediahuis and Mediacorp Pte Ltd, the main broadcaster and media company in Singapore, were among customers expanding the use of Cxense solutions. 50% of new contracts were sold to new customers and the remaining were upsells to existing customers.
Cxense helps publishers and marketers across the globe to transform their raw data into their most valuable resource. Cxense's leading Data Management Platform (DMP) with Intelligent Personalization, give companies unprecedented insight about their individual customers, and enables them to action this insight real-time in all marketing and sales channels. Benefits include increasing digital revenue and user loyalty. Cxense works with brands such as Aeon, Wall Street Journal, Grupo Clarin, NBC Universal, Aller Media and many more. Cxense is headquartered in Norway with offices worldwide and the company is listed on the Oslo Stock Exchange with the ticker 'CXENSE.' For more information: www.cxense.com
Investor Relations Contact:
Jørgen Loeng, Chief Financial Officer
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