CXENSE ASA ANNOUNCES SECOND QUARTER RESULTS - Q2 2016
OSLO, NORWAY - AUGUST 26, 2016 - CXENSE ASA TODAY REPORTED FINANCIAL RESULTS FOR THE SECOND QUARTER, WHICH ENDED JUNE 30, 2016.
Highlights:
- Q2 2016 revenues of USD 6.3 million, up 79% vs. Q2 2015, and New Annualized Recurring Revenue (ARR) closed in Q2 2016 of USD 2.6 million – 59% above the average of the last three quarters.
- Strong new customer wins such as Aller Media AS and Japanese fashion retailer Nissen Co. Ltd, and significant upsell to existing client The Wall Street Journal.
- Q2 2016 lost ARR (churn) was USD 1.4 million, due to higher than expected churn on legacy Maxifier software. Churn is expected to normalize in the following quarters.
- Q2 2016 EBITDA of USD -1.3 million, a significant improvement from USD -3.1 million in Q2 2015.
- Three new leading investors, Aker ASA, Charles Street International and Ferd AS, invested USD 19 million in new equity, enabling Cxense to faster pursue organic and acquired growth.
- Accelerated sales growth is expected to move the EBITDA break-even point beyond 2016.
- Cxense transferred to the Oslo Børs’ main list from Oslo Axess on 12 August 2016.
“Cxense experiences increasing demand for its leading personalization and data management software and we successfully signed new customers and increased our engagement with existing ones in Q2 2016. Churn affecting ad solutions was disappointing, but is expected to move down in coming quarters. We have successfully strengthened our financial position, shareholder base and investor reach by raising new equity and listing on the Oslo Børs. We are now in position to invest in growth and take Cxense to the next level.”, says Ståle Bjørnstad, CEO of Cxense ASA
The Q2 2016 report and presentation are attached to this notice.
Cxense ASA is presenting its Q2 2016 results on Friday August 26, 2016, at 08:30 am CET. The presentation will take place at the Felix Conference Center, Bryggetorget 3,Oslo, Norway.
A live webcast will be available at:
http://webtv.hegnar.no/presentation.php?webcastId=36208086
About Cxense
Cxense (pronounced "see-sense") enables the world's leading media, e-commerce and consumer brands to take control of their audience data to deliver more engaging and personalized user experiences. Businesses using Cxense's advanced real-time analytics, data management (DMP), advertising, search and personalization technology gain more engaged users, increased digital revenue and higher sales conversions. Cxense is headquartered in Oslo, Norway, with offices worldwide.
Customers include the Wall Street Journal, USA Today (Gannett), Grupo Clarin, El Pais, Bonnier, Naspers, Ebay, The Golf Channel, PGA, NBA, NFL, ABC News, FOX Sports, Singapore Press Holdings, South China Morning Post, AEON, DMM, Rakuten and many more. For more information: www.cxense.com, Twitter: @Cxense. Cxense is listed on the Oslo Stock Exchange with the ticker 'CXENSE.'
Investor Relations Contact:
Jørgen Loeng, Chief Financial Officer
Email: jorgen.loeng@cxense.com
Mobile: +47 906 60 062