For the second quarter in a row, Bambuser achieved its best results since its inception. In addition to strong global demand, the company is continuing to expand its relationships with large companies and corporations, which has led to an increase in sales of +664 percent. During the quarter, Bambuser saw an increasing number of contracts with terms ranging from 12 to 36 months, while existing pilot and proof-of-concept contracts were converted into long-term contracts. As a result, the company saw a significant increase in monthly recurring revenue (MRR), up +263 percent compared to Q2 2020. The interim report has now been published and is available at bambuser.com/ir.
In the second quarter of 2021, Bambuser significantly improved its product offering while releasing a number of feature updates and new features to ensure that the platform remains the most feature-rich, secure, compliant and user-friendly platform on the market. One of the most notable of these enhancements is the introduction of social multistreaming, which enables retailers to harness the power of social platforms for discovery while delivering a seamless, secure, and branded shopping experience.
Second quarter 2021 (April – June 2021)
- Monthly Recurring Revenue (MRR) was SEK 4.61 million (1.27), an increase of + 263%
- The total contract value (TCV) of new customer contracts increased by + 664% to SEK 70.3 million (9.2), of which SEK 54.1 million is guaranteed revenue. The TCV for the second quarter includes multiple agreements with an activation date starting in the third quarter, so the recurring royalty income for these agreements is reflected in the MRR starting in the third quarter.
- Total sales were SEK 34.8 million (6.8) of which net sales were SEK 27.3 million (5.4), an increase of + 411%
- Adjusted EBITDA was – SEK 26.9 million (- 4.9)
- Earnings per share were -0.21 SEK (-0.83)
- Cash and cash equivalents at the end of the reporting period were SEK 613.5 million (145.4).
First half of the year (January – June 2021)
- The total contract value (TCV) of new customer contracts increased + 748% to SEK 100.1 million (11.8)
- Total sales were SEK 56.1 million (9.5) of which net sales were SEK 44.0 million (7.2), an increase of + 514%
- Adjusted EBITDA was – SEK 48.8 million (- 11.3)
- Earnings per share were -0.49 SEK (-0.11)
- Cash flow from operating activities amounted to SEK –43.9 million (–13.2)
A comment from the CEO Maryam Ghahremani
“When we close the books for the second quarter, all of our key metrics are pointing in the right direction. The total contract value increased + 664% while our MRR increased + 263% compared to the same period last year. Last quarter I wrote that we had successfully converted several Proof-of-Concept (POC) agreements into long-term contracts. I am pleased to confirm that this trend is continuing. Today most of our contracts have a term of 12 months. In the second quarter, however, we also started to sign contracts with a term of 24 and 36 months. “
For environmental and cost reasons, Bambuser AB decided not to print the report. A printout can be sent to shareholders on request.
This disclosure contains information that Bambuser must publish in accordance with the EU Market Abuse Regulation (EU No. 596/2014). The information was obtained through the agency’s contact person on. submitted for publication August 20, 2021, 7:00 a.m. CEST.
Check out the new Martech Cube podcast. For more such updates, follow us on Google News Martech News
Comments are closed.