Oslo, Norway, 15 August 2024 - Pexip Holding ASA (“Pexip” or “The Company”, Oslo Børs Ticker: PEXIP), today presented its quarterly results for the second quarter of 2024.
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● Q2 2024 revenue of 266 million, up 14% y-o-y. Pexip’s subscription base measured in ARR was USD 107.1 million at the end of Q2 2024, up 8.5% y-o-y.
● Good development in Secure & Custom ARR with several key wins in the quarter. Secure and Custom grew 15% year-on-year. Connected Spaces ARR grew 10% year-on-year.
● EBITDA excluding other gains and losses amounted to NOK 36.0 million, up NOK 27.3 million from the same quarter last year. EBITDA including other gains and losses amounted to NOK 33.0 million, up NOK 25.3 million.
● Free cash flow of NOK 67.7 million in the quarter, up NOK 26.6 million, with a cash position of NOK 586.5 million and no material interest-bearing debt exiting Q2 2024.
● Microsoft announced cross-platform guest join using SIP for Microsoft Teams Rooms, with Pexip as a launch partner. The new Pexip Connect for Microsoft Teams Rooms enables a high-quality guest join experience for Microsoft Teams Rooms when joining Zoom, Webex, Google Meet, Amazon Chime as well as other meeting providers.
● Pexip launched Pexip Connect for Zoom Rooms, which enables Zoom Rooms to have a high-quality guest join experience when invited to Microsoft Teams Meetings.
“We continue to build momentum in providing secure video solutions to our customers, with record-high new sales in this segment. We have also strengthened our position in the global video conferencing ecosystem with a clear position as the interoperability specialist working with all the major players.”
Trond K. Johannessen
Chief Executive Officer
Analyst consensus estimates
Every quarter ahead of the earnings announcement, Pexip collects earnings estimates from the equity analysts currently covering the Company. The consensus estimates and the methodology used in the preparation of the consensus estimates are published on the Company’s IR web pages here: https://investor.pexip.com/consensus
Q2 results presentation
The second quarter results for 2024 will be presented by video webcast today, Thursday 15 August, at 08:00 CEST. The presentation will be held by Trond K. Johannessen (CEO), Øystein Dahl Hem (CFO), and Åsmund Fodstad (Chief Revenue Officer) The presentation will be held in English and conducted as a webcast. Questions can be submitted to IR@pexip.com in advance of the presentation or live during the presentation.
Please join the webcast via the following link: Q2 2024 Financial Results Presentation | Pexip
A recorded version of the presentation will also be available after the webcast is concluded.
For questions, please contact:
Øystein Dahl Hem, CFO
IR@pexip.com, +47 992 34 596
About Pexip | pexip.com
Pexip is a video technology company that offers multi-platform software for various purposes such as business meetings, secure government communication, doctor’s appointments, and court proceedings. It is an excellent tool for organizations that want seamless, secure, and scalable meetings that enhance the video experience. Pexip (PEXIP) is listed on the Oslo Stock Exchange. Visit us at www.pexip.com or on LinkedIn
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5 -12 of the Norwegian Securities Trading Act.
This stock exchange announcement was published by Øystein Dahl Hem, CFO, Pexip Holding ASA, on 15 August 2024 at 07:00 CEST.
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