Oslo, Norway, November 7, 2024 - Pexip Holding ASA (“Pexip” or “The Company”, Oslo Børs Ticker: PEXIP), today presented its quarterly results for the third quarter of 2024.
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● Q3 2024 revenue of 228 million, up 6% y-o-y. Pexip’s subscription base measured in ARR was USD 109.5 million at the end of Q3 2024, up 10% y-o-y.
● Good development in both business areas with several significant new customer wins in the quarter. Secure and Custom grew 15% year-on-year. Connected Spaces ARR grew 10% year-on-year.
● Good development with the product Connect for Zoom Rooms, which launched in Q2. Connect for Zoom Rooms contributed USD 0.7 million in ARR in Q3 2024, including a Fortune 500 company win.
● EBITDA excluding other gains and losses amounted to NOK 18.1 million, up NOK 7.5 million from the same quarter last year. EBITDA including other gains and losses amounted to NOK 14.6 million, up NOK 9.8 million y-o-y.
● Free cash flow of NOK 7.8 million in the quarter, up NOK 18.0 million compared to Q3 2023, with a cash position of NOK 593.2 million and no material interest-bearing debt exiting Q3 2024.
“We continue to build momentum in both business areas, providing secure video solutions and strengthening our clear position as the interoperability specialist in the industry. I am very excited to see the customer interest in our Connect for Zoom Rooms product, and how the Zoom partnership is opening new opportunities.”
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
Q3 results presentation
The third quarter results for 2024 will be presented by video webcast today, Thursday November 7, 2024 at 08:30 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: Q3 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 November 7, 2024 at 07:00 CEST.
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