The video conference company Pexip has presented the figures for the first quarter on Monday morning. They show turnover growth of 12 per cent to NOK 292 million, up from NOK 261 million in the same period last year.
In advance, according to TDN Direkt, the analysts had predicted revenues of NOK 283 million.
EBITDA in the period ended at NOK 57.7 million, up from NOK 35.1 million. The analysts expected an EBITDA of NOK 57.1 million.
Pexip’s annual recurring revenue (ARR) came in at $104.8 million in the first quarter, versus $104.6 million expected. In the same quarter a year ago, ARR revenue ended at $98.3 million.
The company is now repeating its guidance of an ARR growth of 5-10 per cent in 2024, and an EBITDA margin of 13-18 per cent.
“Pexip’s medium-term financial goal is to consistently deliver over 10 percent growth in annual recurring revenue, as well as to have an EBITDA margin of over 20 percent with high cash conversion,” writes the company, and points out that they aim to do this by to focus on niches where Pexip has a unique competitive advantage and a path to becoming a clear market leader.
Tags: Revenue growth Pexip Finansavisen
