STOCKHOLM, Aug. 20, 2021 /PRNewswire/ -- For the second consecutive quarter, Bambuser experienced its best results since inception. In addition to strong global demand, the company continues to grow its relationships with large enterprises and conglomerates, resulting in a sales lift of +664 percent. During the quarter, Bambuser saw an increasing number of contracts with terms of 12 to 36 months, while also converting existing pilot and proof of concept agreements to long-term agreements. As a result, the Company saw a significant increase in monthly recurring revenue (MRR), which grew +263 percent compared to Q2 2020. The interim report has now been published and can be found at bambuser.com/ir.
During Q2 2021, Bambuser made considerable enhancements to its product offering, while also releasing a number of feature updates and new capabilities to ensure the platform remains the most feature-rich, secure, compliant and user-friendly platform on the market. Among the most notable of these enhancements is the launch of Social Multistreaming, which enables retailers to leverage social platforms' power for discovery at the same time they provide a seamless, secure and on-brand shopping experience.
Second quarter of 2021 (April – June 2021)
- Monthly Recurring Revenue (MRR) amounted to 4.61 MSEK (1.27), an increase of +263%
- Total contract value (TCV) of new customer agreements grew by +664% to 70.3 MSEK (9.2), of which 54.1 MSEK is guaranteed revenue. The TCV for Q2 includes multiple agreements with an activation date starting in Q3, hence that recurring license revenue for those agreements will be reflected in the MRR starting Q3.
- Total Revenue amounted to 34.8 MSEK (6.8) whereof net sales amounted to 27.3 MSEK (5.4), an increase of +411%
- Adjusted EBITDA amounted to –26.9 MSEK (–4.9)
- Earnings per share amounted to –0.21 SEK (–0.83)
- Cash and cash equivalents amounted to 613.5 MSEK (145.4) at end of period
First half of the year (January – June 2021)
- Total contract value (TCV) of new customer agreements grew by +748% to 100.1 MSEK (11.8)
- Total Revenue amounted to 56.1 MSEK (9.5) whereof net sales amounted to 44.0 MSEK (7.2), an increase of +514%
- Adjusted EBITDA amounted to –48.8 MSEK (–11.3)
- Earnings per share amounted to –0.49 SEK (–0.11)
- Cash flow from operations amounted to –43.9 MSEK (–13.2)
A comment from CEO Maryam Ghahremani
"As we close the books for Q2, all our key metrics point in the right direction. The total contract value is up by +664% while our MRR is up by +263% compared to the same period last year. Last quarter, I wrote that we had successfully converted several proof-of-concept agreements (POC) into long-term agreements. I'm happy to confirm that this trend is continuing. Today, most of our agreements run for 12 months. However, during the second quarter, we've also begun signing agreements with durations of 24 and 36 months."
For environmental and cost reasons, Bambuser AB has decided not to print the report. A printout may be distributed to shareholders upon request.
This disclosure contains information that Bambuser is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on August 20, 2021, 07:00 CEST.
Corporate Communications, Bambuser AB | +46 8 400 160 00 | firstname.lastname@example.org
Erik Penser Bank AB | +46 8 463 83 00 | email@example.com
About Bambuser AB
Bambuser is a software company specializing in interactive live video streaming. The Company's primary product, Live Video Shopping, is a cloud-based software solution that is used by customers such as global e-commerce and retail businesses to host live shopping experiences on websites, mobile apps and social media. Bambuser was founded in 2007 and has its headquarters in Stockholm.
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The following files are available for download:
Bambuser Interim Report Apr-Jun 2021