Press release
Oneflow publishes its interim report for the third quarter of 2023:
July - September 2023 (compared to the same period last year)
- Net sales increased 44% to MSEK 25.6 (17.8). Share of Net sales outside
Sweden increased to 29% (25) with paying users in 34 countries. -
EBIT was MSEK -22.7 (-17), with an EBIT margin of -88.9% (-95.6).
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Net income for the period amounted to -22.0 (-17.2).
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Basic earnings per share amounted to
SEK -0.88 (-0.68) and diluted to SEK-0.88 (-0.68). -
Total ARR YoY increased 44% to MSEK 116.2 (80.5).
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Net New ARR for the third quarter decreased -7% to MSEK 5.4 (5.8).
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During the third quarter cash-flow from current operations amounted to MSEK -19.5 (-12.7).
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Total cash and cash equivalents amounted to MSEK 122.9 (235.6).
January - September 2023 (compared to the same period last year)
- Net sales increased 46% to MSEK 71.3 (48.8). Share of Net sales outside
Sweden increased to 29% (24) with paying users in 34 countries. -
EBIT was MSEK -71.6 (-41.3), with an EBIT margin of -100.5% (-84.7).
-
Net income for the period amounted to -69.2 (-43.3).
-
Basic earnings per share amounted to
SEK -2.75 (-1.91) and diluted to SEK -2.75 (-1.91). -
Total ARR YoY increased 44% to MSEK 116.2 (80.5).
-
Net New ARR for the first nine months increased 10% to MSEK 25.6 (23.4).
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Cash-flow during the first nine months amounted to MSEK -44.1 (-17.8).
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Total cash and cash equivalents amounted to MSEK 122.9 (235.6).
Anders Hamnes, CEO and Founder of Oneflow, comments:
"Our ARR increased by MSEK 5.4 during the third quarter, resulting in a 44% year-over-year growth, bringing our total ARR to MSEK 116.2. Historically, the third quarter is the weakest sales quarter of the year due to seasonal fluctuations and the summer holiday. Our sales pipe for the fourth quarter remains strong, and we are committed to sustaining our fast-paced sales growth despite the challenging financial climate and market uncertainty we've experienced during the past few quarters. During the quarter, the company had one-time expenses related to the repayment of a previously reserved amount of MSEK 3.7 for short-term furlough, as well as a significant investment in the company's branding of MSEK 2.0.
Since our stock market listing in
Moving forward, our focus will be to constantly improve our ways of working, increasing the speed at which we release new features, enhancing our customers' product experience, and sustaining strong sales growth. Our long-term goal is to establish
We maintain a strong cash position, stabilized costs, and we are now steering the course towards profitability. Due to the projected slow economic recovery, we're adjusting our 2027 ARR target from MSEK 600 to MSEK 500, and we're keeping our 2027 EBIT margin target at 20%."
Oneflow's report presentation webinar
To join the conference, please register here: https://oneflow.zoom.us/webinar/register/WN_glRWwyxSRtCmVlt3YFqlQQ#/registration
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-q3-2023--increased-commitment-on-profitability-with-strong-sales-growth,c3873097
https://mb.cision.com/Main/18060/3873097/2421033.pdf
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