Press release
Oneflow publishes its interim report for the second quarter of 2023:
April - June 2023 (compared to the same period last year)
- Net sales increased 46% to MSEK 23.9 (16.5). Share of Net sales outside
Sweden increased to 30% (24) with paying users in 35 countries. -
EBIT was MSEK -25.4 (-13.4), with an EBIT margin of -105.9% (-81.3).
-
Basic earnings per share amounted to
SEK -0.97 (-0.58) and diluted to SEK-0.97 (-0.58). -
Total ARR YoY increased 48% to MSEK 110.8 (74.7).
-
Net New ARR for the second quarter increased 25% to MSEK 11.3 (9.0).
-
Total cash and cash equivalents amounted to MSEK 156.5 (260).
January - June 2023 (compared to the same period last year)
- Net sales increased 47% to MSEK 45.7 (31). Share of Net sales outside
Sweden increased to 29% (23) with paying users in 35 countries. -
EBIT was MSEK -48.9 (-24.3), with an EBIT margin of -107.0% (-78.5).
-
Basic earnings per share amounted to
SEK -1.87 (-1.22) and diluted to SEK -1.87 (-1.22). -
Total ARR YoY increased 48% to MSEK 110.8 (74.7).
-
Net New ARR for the first six months increased 15% to MSEK 20.2 (17.6).
-
Total cash and cash equivalents amounted to MSEK 156.5 (260).
Anders Hamnes, CEO and Founder of Oneflow, comments:
"Our total ARR increased 48% year-over-year to MSEK 110.8, representing an all-time high increase of MSEK 11.3 during the second quarter. The market has been challenging during the past few quarters. Considering the financial climate and uncertainty, it feels extraordinarily satisfying that we're still one of the fastest growing listed software companies in
Our global expansion growth strategy is performing according to plan. We are gaining more and more traction in sales from our newly established subsidiaries in
From the product perspective, we continued to invest in the
The churn increased somewhat in the wake of the recession, but has now started to slowly decline again. We're seeing a slightly improved gross retention rate in the second quarter (91.1%) compared to the previous quarter (90.6%), and we believe that the gross retention rate will continue to improve slowly going forward.
Expansion ARR is under heavy pressure from customers downsizing and laying off employees rather than hiring. We expect the net retention rate to improve again from the current, but still healthy and satisfying level (112.5%).
The digital contract market is relatively new and untapped in contrast to more mature software markets such as the CRM and ERP markets. And yet, contracts are the foundation of doing business. The potential, combined with a highly competent team, strong company culture, a scalable product that meets the requirements from large enterprises as well as small business needs, positions
Oneflow's report presentation webinar
To join the conference, please register here: https://oneflow.zoom.us/webinar/register/WN_kOJ5ZwPISyuBUTi2cUMO2g
Report and presentation will be available for download on our website here: https://oneflow.com/ir/investors/financial-reports/
This information is such information that
For further information, please contact:
Mobile: +46 76 788 50 76
Email: anders.hamnes@oneflow.com
Certified Adviser is
About Oneflow
https://news.cision.com/oneflow/r/oneflow-interim-report-q2-2023--all-time-high-sales-despite-a-tough-market,c3816231
https://mb.cision.com/Main/18060/3816231/2224114.pdf
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