Oneflow publishes Annual Report and Sustainability Report for 2023
Press release
10 April 2024
Strong sales growth in tough times with ongoing commitment to environmental stewardship and social responsibility.
Oneflow is proud to announce the publications of its Annual Report and Sustainability Report for 2023. Oneflow, a SaaS company trading on Stockholm’s Nasdaq First North Premier Growth Market, builds a contract automation platform to help businesses transform the legacy way of working with contracts.
Annual report highlights
Oneflow’s CEO and Founder, Anders Hamnes, comments:
“Oneflow continued to deliver strong sales numbers during 2023. The ARR increased with an all-time-high of MSEK 38.7, ending at a total of MSEK 129.3, representing a year-over-year growth of 43%.
The market has been turbulent and challenging during the year, with higher churn than normal, and less expansion sales. Considering the financial climate and uncertainty, it feels extraordinarily satisfying that we’re still one of the fastest growing listed software companies in Sweden, continuing to reach all-time high sales numbers. We have executed well in our way to reach our long term objectives.
During the fall of 2023, we made the strategic decision to reduce our workforce by approximately 5%, to further improve efficiency and optimize our organization and performance. During 2024 you’ll see a steady improvement of our EBIT losses, quarter by quarter. Considering our current ARR and growth rate, our cost base - that now will be more or less fixed throughout 2024 - we’ll maintain a sufficient cash position, and steer towards profitability with our current cash reserve.
The market for digital contract management has an extremely large potential. Contracts are the foundation of doing business. The potential, combined with a highly competent team, strong company culture, a scalable product that meets the requirements from large enterprises as well as small business needs, positions Oneflow for sustainable growth in the years to come. Our long-term goal is to establish Oneflow as a global key player in our industry.
Oneflow offers a critical product that is proven to reduce costs and increase productivity, delivering high value for money and a quick payback. We will never compromise our financial position and strive to make sound long-term business decisions. We maintain our financial targets of reaching an ARR of MSEK 500 and an EBIT margin of 20% during 2027.
Say contract, think Oneflow!”
Sustainability report highlights
Oneflow advocates for paperless workflows, achieving the most significant positive environmental impact by facilitating the digital transformation of processes that were predominantly paper-based. Some of the key targets reflecting Oneflow's ongoing commitment to environmental stewardship and social responsibility include:
- Target offset carbon emissions related to business travels are 50% by 2024, 75% by 2025, and 100% by 2026
- Achieve a 40-60% gender diversity across the organization overall including within the Board of Directors and the Management team
- Commitment to governing principles of security first, transparency, and privacy by design and by default.
“Our commitment to sustainability is a valuable long-term investment for our future,” comments Anders Hamnes. “By making sustainability a priority, we're actively contributing to a better future for ourselves, our customers, and the planet. While we take pride in our achievements thus far, we acknowledge that our journey towards sustainability is only beginning.”
Oneflow’s sustainability initiatives are structured around ESG principles: environment, social responsibility, and governance.
Access to reports
Both the 2023 Annual Report and the Sustainability Report are available for download on Oneflow's website: https://oneflow.com/ir
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.
About Oneflow
Oneflow develops a contract automation platform powered by AI, helping businesses achieve a fully automated contract process. Contracts are at the heart of all businesses and yet, while the world is undergoing digital transformation, contracts are stuck in a frustrating mess between PDFs, legacy systems, inboxes, just to get a contract signed. Oneflow believes there’s a better contract workflow. One that is intelligent, easy, rich in data, gathers every step of the process in one place, allowing for better clarity and collaboration between all parties involved. And people can get on with what they do best. With Oneflow, contracts are smarter, giving our users an experience so delightful, it feels like magic. Get started for free at oneflow.com.