Cxense ASA announces fourth quarter and preliminary year-end results for 2018

Oslo, Norway - 6 March 2019 - Cxense ASA today reported financial results for the fourth quarter and full year ending 31 December 2018.

Highlights:

- FLAT SEQUENTIAL REVENUE DEVELOPMENT FOR THE CORE DMP AND PERSONALIZATION SEGMENT AS INCREASED SERVICE REVENUE OFFSET HIGH Q3 CHURN

  • 10% YoY growth for the core DMP and Personalization segment in Q4 2018
  • Adjusted EBITDA of USD -1.34 million compared to USD -0.68 million in Q4 2017 due to non-core churn, gross margin and higher personnel cost

- FULL-YEAR CORE SEGMENT REVENUE WAS USD 15.7 MILLION, UP 18% FROM 2017

  • EBITDA was USD -3.64 million, compared to USD -11.5 million in 2017

- MAXIFIER DIVESTED

  • Significantly simplifying operations

- MAJOR EVENTS AFTER Q4

  • USD 10 million raised in oversubscribed rights issue to finance growth investments
  • Greger Teigre Wedel appointed as new CTO


Christian Printzell Halvorsen, CEO of Cxense, commented:

“Our strategic roadmap is in place and with the additional growth capital, we will invest to strengthen our sales organization and product offering. This will also provide tools to improve customer retention. We expect the effects of these investments to materialize from the second half of the year and enable us to leverage our scalable, high-margin business model to grow in our existing and new markets,” Christian Printzell Halvorsen, CEO of Cxense.


Material:
The Q4 2018 report and presentation are attached to this notice and can also be found under the following link: https://www.cxense.com/investors/financial-reports

Webcast/presentation: Cxense will today present its Q4 2018 results at 08:30 am CET at Felix Konferansesenter, Bryggetorget 3, Oslo, Norway. A live webcast will be available at:

http://webtv.hegnar.no/presentation.php?webcastId=97603682  

Investor Relations Contact:

Jørgen Evjen, Chief Financial Officer
Email: ir@cxense.com
Mobile: +47 928 04 014