Cxense ASA announces second quarter and first half 2019 results

Oslo, Norway - 21 August 2019 - Cxense ASA today reported financial results for the second quarter and first half ending 30 June 2019.


Highlights:

- Received offer from Piano (event after reporting period)

  • Voluntary cash offer at NOK 16 per share

  • Unanimously recommended by BoD and management

  • Pre-accepted by 53% of outstanding shares, including shares of BoD and management

- Continue executing on strategic plan

  • Customer touchpoints and product development capacity to increase as new sales, customer success, engineering and data science resources are onboarded

- Core DMP and Personalization revenue of USD 3.97 million in the quarter and USD 8.01 million in first half of 2019

  • Up 2% and 4% compared to Q2 2018 and H1 2018, respectively

  • Down 2% sequentially partly due to reduced consulting revenue 

- Adjusted EBITDA of USD -1.16 million in Q2 2019 and USD -1.91 million in H1 2019, compared to USD -0.78 million and USD -0.98 million in Q2 2018 and H1 2018, respectively

Christian Printzell Halvorsen, CEO of Cxense, commented:  

"Data is a critical factor as the world's publishers and media companies transform to digital business models. In particular, we see strong and growing interest from clients in using data to optimize subscription models which are becoming increasingly important. Being able to support publishers' digital transformation across subscriptions, advertising and the newsroom is a key strength of Cxense's solution. We have continued to execute on our strategic plan to improve growth, strengthening sales, customer success, engineering and data science." 


Material: The Q2 and half year 2019 report and presentation are attached to this notice and can also be found under the following link:

https://www.cxense.com/investors/financial-reports 

Audiocast/presentation: Cxense ASA will present its Q2 and half year results today at 08:30 CET at the Felix Conference Center, Bryggetorget 3, Oslo, Norway. A live webcast will be available at:

https://webtv.hegnar.no/presentation.php?webcastId=98042721 


Investor Relations Contact: 

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