Cxense ASA: End of quarter recurring revenue update
Oslo, Norway – 17 January 2019 - Cxense ASA (OSE: CXENSE) today announced that it in Q4 2018 signed 24 new contracts with Quarterly Recurring Revenue (QRR) effect of USD 247 thousand for the company's data management platform (DMP) with intelligent personalization, up 8% from the previous quarter. Of the new QRR in the core segment, approximately USD 148 thousand came from new customers and the remaining close to USD 100 thousand from upsells to existing customers. Cxense had on average 9 effective sales quotas in Q4, unchanged from Q3 2018.
Full QRR effect from contracts notified to be terminated in Q4 2018 was USD -272 thousand for the core business. USD 26 thousand was downsell on existing customers while USD 246 thousand was from lost customers. Of the lost QRR, USD 143 thousand (53%) was related to smaller contracts with an average QRR of USD 9 thousand, while USD 129 thousand (47%) was related to the loss of two larger customers.
New contracts signed in Q4 included the sale of Cxense DMP to NLProfiel, a data alliance representing three leading Dutch publishers. Dai Nippon Printing Co., Ltd. (DNP), a diversified Japanese group engaged in printing, electronic components, information and media supplies, signed an agreement to use the Conversion Engine. The Japanese online recruiter Mynavi Corp. expanded its use of Cxense software to include the Conversion Engine, while the broadcaster Euronews bought DMP and personalization software.
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, gives companies unprecedented insight into their individual customers, and enables them to action this insight real-time in all marketing and sales channels. Cxense Conversion Engine empowers publishers to monetize insight into their audience's behaviour and preferences in order to increase subscription revenues. Cxense works with brands such as The Wall Street Journal, Aeon, Grupo Clarin, NBC, The Mainichi Newspapers, Universal, Singapore Press Holdings 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.'
Investor Relations Contact:
Jørgen Evjen, Chief Financial Officer
Mobile: +47 928 04 014