Pexip Holding ASA: Results for first quarter 2020
(Oslo, Norway – May 27, 2020) Pexip Holding ASA reported NOK 150.1 million in revenue for Q1 2020, an increase of 67% compared to the Q1 2019 revenue of NOK 89.9 million. Revenue from Infinity, Pexip’s self-hosted software offering, amounted to NOK 111.8 million, up from NOK 66.8 million in Q1 2019. Revenue from cloud services amounted to NOK 38.3 million in Q1 2020, up from NOK 23.1 million in Q1 2019. EBITDA was NOK 35.8 million in Q1 2020 (24% of revenue) compared to NOK 19.8 million in Q1 2019 (22% of Revenue).
The subscription base, measured in Annual Recurring Revenue (ARR), grew to USD 57 million at the end of Q1 2020, which is an increase of 50% from USD 38 million at the end of Q1 2019. EMEA is the largest geography with USD 31 million (y-o-y growth of 53%), followed by Americas at USD 20 million (y-o-y growth of 55%) and APAC at USD 6 million (y-o-y growth of 27%).
Odd Sverre Østlie, Pexip CEO, comments: “Pexip has experienced a significant increase in demand for our video conferencing platform as a result of Covid-19. We have seen a 7X spike in usage across existing and new customers, and the whole Pexip team has been working extremely hard to support our customers through these challenging times. Now we are seeing that the situation has stabilized as many organizations now have tools and processes in place for remote working. We do, however, believe that Covid-19 will have a long-term effect on the demand for video communication as more people become used to meeting virtually.”
The presentation will be held on Wednesday, May 27th, 2020 at 08:00 CEST in English and will be led by Odd Sverre Østlie (CEO), Øystein Hem (CFO), and Michel Sagen (Chairman of the Board). Please register to view the live webcast here: https://www.pexip.com/q1-2020-results-webinar
For further information, please contact: IR: Øystein Hem, CFO +47 992 34 596, IR@pexip.com Press: Lars-Einar Petterson, +47 934 48 827, lars.einar.petterson@pexip.com
About Pexip Pexip is a global technology company delivering a video-first meeting platform with 15% of the Global Fortune 500 companies as customers. The Company’s product offering is a highly scalable, cloud-native meeting platform that is deployable either as a service or a self-hosted solution in any public or private cloud environment. All offerings build on Pexip’s unique Infinity technology, and are delivered via a recurring subscription-based business model. The Company has more than 300 channel partners located in about 75 countries worldwide.
Pexip is a global technology company delivering a video-first meeting platform with 15% of the Global Fortune 500 companies as customers. The Company’s product offering is a highly scalable, cloud-native meeting platform that is deployable either as a service or a self-hosted solution in any public or private cloud environment. All offerings build on Pexip’s unique Infinity technology, and are delivered via a recurring subscription-based business model. The Company has more than 300 channel partners located in about 75 countries worldwide.