CXENSE ASA ANNOUNCES THIRD QUARTER RESULTS
OSLO, NORWAY - NOVEMBER 14, 2017 - CXENSE ASA TODAY REPORTED FINANCIAL RESULTS FOR THE THIRD QUARTER ENDING 30 SEPTEMBER 2017.
Highlights:
Strategic change to focus on Data Management and Personalization
* New CEO in place to execute strategy
* Sale of non-core assets progressing well
Growth in core segments of Data Management and Personalization
* 15% YoY and 5.3% sequentially
* Sales and churn improvement from Q2, but behind targets
* 26 new customer contracts
On track to reach post restructuring target EBITDA for Q1 2018 of USD -0.5 million
* 83% of OPEX reduction target of USD 3 million is realized
* Gross margin improvement of 3% from hosting optimisation
Financial runway beyond break-even secured
* Completed USD 5 million share issue
* Sale of mporium for USD 3.8 million vs USD 2.4 million invested
* Q3 2017 adjusted cash position of USD 12.2 million
CEO comment:
“Cxense is well on its way to become a single-focused provider of our world-class Data Management Platform (DMP) with Intelligent Personalization. To this end, a significant company restructuring has been executed during this quarter. Full concentration on our core business combined with strengthened financial runway, makes a strong starting point for long-term value creation in a large and growing market. While our technology continues to prove its value every day with 165 core customers worldwide, we still need to sharpen our technology vision and refine our go-to-market model to capture the big opportunities in front of us. I believe the massive amount of data that we manage on behalf of our customers is a core competitive advantage and its essential to combine this with truly customer-oriented product development and a streamlined sales approach. I look forward to the next chapter of Cxense’s journey and to create a new growth trajectory for the adoption of our solutions” said Christian Printzell Halvorsen, CEO of Cxense.
Material: The Q3 2017 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: Cxense ASA will present its Q3 2017 results 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=67733412
About Cxense:
Cxense helps hundreds of leading publishers and marketers across the globe transform their raw data into their most valuable resource. Cxense's leading Data Management Platform (DMP) with Intelligent Personalization, give companies unprecedented insight about their individual customers, and enables them to action this insight real-time in all marketing and sales channels. Benefits include increased digital revenue and user loyalty. Cxense works with brands such as Aeon, Wall Street Journal, Grupo Clarin, NBC Universal, Aller 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.' For more information: www.cxense.com
Investor Relations Contact:
Jørgen Loeng, Chief Financial Officer
Email: ir@cxense.com
Mobile: +47 906 60 062