Oneflow’s year-end report 2022: All-time-high sales despite challenging times

Fri, Feb 17, 2023 08:00 CET

Press release
17 February 2023

Oneflow publishes its year-end report for January–December 2022.

October–December 2022 (compared to the same period last year)

Net sales increased 59% to MSEK 20.4 (12.8). Share of Net sales outside Sweden increased to 28% (18) with paying users in 31 countries.
EBIT was MSEK -24.4 (-9.0), with an EBIT margin of -120% (-70).
Basic earnings per share amounted to SEK -0.95 (-0.51) and diluted to SEK -0.95 (-0.51).
Total ARR YoY increased 59% to MSEK 90.6 (57.1). Net New ARR for the fourth quarter increased 45% to MSEK 10.1 (7.0).
Total cash and cash equivalents amounted to MSEK 211.7 (35.2).

January–December 2022 (compared to the same period last year)

Net sales increased 59% to MSEK 69.1 (43.6). Share of Net sales outside Sweden increased to 25% (18) with paying users in 31 countries.
EBIT was MSEK -65.8 (-30.3), with an EBIT margin of -95% (-70).
Basic earnings per share amounted to SEK –2.89 (-1.70) and diluted to SEK -2.89 (-1.70).
Net New ARR for the year increased 38% to MSEK 33.5 (24.3).
Opened offices in the UK in May and in the Netherlands and France in September.
On 8 April 2022, Oneflow successfully got listed on First North and raised a total of MSEK 290 including the over-allotment.
According to the policy no dividend will be paid out.

Anders Hamnes, CEO and Founder of Oneflow, comments:

“The ARR increased with an all-time-high of MSEK 10.1 during the fourth quarter, ending the year at a total of MSEK 90.6, representing a year-over-year growth of 59%.

The sentiment in the market has changed. We did not sense any noteworthy friction in our sales processes prior to the fourth quarter, but the souring economic climate did hit us in the last quarter of the year. Expansion sales were lower than expected during the fourth quarter, sales cycles with new customers were longer, and our churn doubled compared to previous quarters. We missed our internal targets. Despite all that, we continued to deliver all-time-high numbers, and our ARR is still growing close to 60%! This is proof of strength within our organization, our product, and our business model. We’re doing great even in tough markets.

Last year we strengthened our product and development departments significantly. We’re in a product race, we’re already an established innovator in our space, and we aim to increase our competitive advantage even further in the years to come.”

Full comment in the attached report.

Oneflow year-end report 2022 webinar presentation

Anders Hamnes, CEO and Founder of Oneflow, and Natalie Jelveh, 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_MmgaBzonRuyE-aGaCq4yWw

The 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 17 February 2023 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 by email: info@fnca.se and by 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 results in a high degree of time and resource-intensive administrative work and high exposure to human errors. Through the 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.