Oneflow interim report Q3 2022: Focus on European expansion

Press release
November 11, 2022

Oneflow publishes its interim report for the third quarter of 2022.

July - September 2022 (compared to the same period last year)

• Net sales increased 53% to MSEK 17.8 (11.6). Share of Net sales outside Sweden increased to 25% (21) with paying users in 29 countries.
• EBIT was MSEK -17.0 (-6.7), with an EBIT margin of -95.6% (-57.6).
• Basic earnings per share amounted to SEK -0.68 (-0.39) and diluted to SEK -0.68 (-0.39).
• Total ARR increased 61% to MSEK 80.5 (50.1). Net New ARR for the third quarter increased 15% to MSEK 5.8 (5.0).
• Opened offices in the Netherlands and France during September.

January - September 2022 (compared to the same period last year)

• Net sales increased 59% to MSEK 48.8 (30.8). Share of Net sales outside Sweden increased to 24% (18) with paying users in 29 countries.
• EBIT was MSEK -41.3 (-21.4), with an EBIT margin of -84.7% (-69.4).
• Basic earnings per share amounted to SEK –1.91 (-1.19) and diluted to SEK -1.91 (-1.19).
• Total ARR increased 61% to MSEK 80.5 (50.1). Net New ARR for the first nine months increased 35% to MSEK 23.4 (17.3).
• Opened offices in the UK in May and in the Netherlands and France during September.
• On 8 April 2022 Oneflow successfully got listed on First North, and raised a total of MSEK 290 including the over-allotment.

Anders Hamnes, CEO and Founder of Oneflow, comments:

“Our ARR increased with MSEK 5.8, ending at a total of MSEK 80.5 this quarter, representing a year-over-year growth of 61%. Although it came in slightly below our internal goals in terms of new sales, it was still a very good quarter.

From an operational point of view, the third quarter has been characterized by our European expansion. In May this year we opened an office in the UK, and during the first week of September we opened offices in France and the Netherlands. In new markets where our brand is unknown, and our teams are new, it will take time before Oneflow is fully established. The development is in line with our plans, and we are very satisfied with our performance so far. We have done some great hires, and are very excited about the next year.”

Oneflow Q3’s webinar presentation

Anders Hamnes, CEO and Founder of Oneflow, and Ilona Prander, CFO of Oneflow, will present the report and answer questions in a webinar at 10:00 CET today. The presentation will be held in English.

To join the conference, please register here: https://oneflow.zoom.us/webinar/register/WN_qwImNK6MQZiSLoqWgmd4KA

Report and presentation will be available for download on our website here: https://oneflow.com/ir/investors/financial-reports/

This information is such information that Oneflow AB (publ) is obligated to make public according to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on 11 November 2022 at 8:00 CET.
 

For further information, please contact:
Anders Hamnes, CEO and Founder
Mobile: +46 76 788 50 76
Email: anders.hamnes@oneflow.com

Certified Adviser is FNCA Sweden AB and can be reached on email: info@fnca.se and telephone: +46 (0) 8528 00 399.
 

About Oneflow

Oneflow develops, sells and implements digital contract management and automation systems. Oneflow believes that contract processing today, both in Europe and globally, is mainly characterized by manual and paper or file-based contract management, which result in a high degree of time and resource-intensive administrative work and high exposure to human errors. Through Oneflow software platform, companies are given the opportunity to digitally handle contracts before, during and after signing within one single platform in order to automate and streamline the contract management process.