Cxense ASA: End of quarter recurring revenue update
Oslo, Norway - 15 July 2019 - Cxense ASA (OSE: CXENSE) today announced that it in Q2 2019 signed 16 new contracts with Quarterly Recurring Revenue (QRR) effect of USD 171.7 thousand for the company's data management platform (DMP) with intelligent personalization.
Full QRR effect from 17 contracts notified to be terminated in Q2 2019 was USD 190.1 thousand for the core business. As a result, net new QRR from new and lost contracts was USD -18.4 thousand.
New QRR
| Q1 2019 | Q2 2019 | Change % | |
| New QRR from new clients | 61.6 | 131.9 | 114.1% |
| New QRR from upsell | 68.0 | 39.8 | -41.5% |
| Total new QRR | 129.6 | 171.7 | 32.5% |
| No. of contracts new clients | 6 | 7 | |
| No. of contracts upsell | 10 | 9 |
Lost QRR
| Q1 2019 | Q2 2019 | Change % | |
| Lost QRR from lost clients | 99.3 | 176.5 | 77.7% |
| Lost QRR from downsell | 19.6 | 13.7 | -30.1% |
| Total lost QRR | 118.9 | 190.1 | 59.9% |
| No. of contracts lost | 9 | 16 | |
| No. of contracts downsell | 3 | 1 |
New contracts signed in Q2 included the sale of Cxense Conversion Engine to the US based digital media company Penske Media Corporation, who will implement Cxense on several of its well known brands such as Variety, Rolling Stone and Women’s Wear Daily. Furthermore, a leading publisher in the Benelux countries signed an agreement to implement Cxense DMP as its unifying data management platform for all its digital properties.
About Cxense:
Cxense is an AI-powered Data Management and Intelligent Personalization platform that helps 200 leading publishers and marketers around the globe build personal, profitable relationships with their customers. Our technology organizes first party data into powerful custom segments and 1:1 user profiles before applying machine learning to understand and predict customer behavior and intent. As a result, our clients are able to deliver unique and relevant content and offers to customers in real time, driving more subscriptions, sales, and higher customer lifetime value. Our solutions process interactions from about 7,000 websites on 2 billion devices each quarter. Cxense is listed on the Oslo Stock Exchange and has offices in Norway, the US, Japan, Russia, Germany, and Argentina.
Investor Relations Contact:
Jørgen Evjen, Chief Financial Officer
Email: ir@cxense.com
Mobile: +47 928 04 014