The preliminary financial information has been prepared in the usual manner for the forthcoming quarterly report and is thus not based on any assumptions regarding e.g. future conditions. The information is comparable to the historical financial information and prepared in accordance with the company's accounting principles.
Amounts in parentheses refer to the corresponding metrics for the same period last year.
The Third Quarter
- Order Intake amounted to 26.5 (35.1) MSEK
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- Recurring revenue amounted to 21.0 (16.9) MSEK
- EBITDA amounted to 2.6 (9.1) MSEK
First Nine Months 2021
- Order Intake amounted to 147.4 (122.1) MSEK
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- Recurring revenue amounted to 62.5 (51.9) MSEK
- EBITDA amounted to -9.2 (-4.6) MSEK
- Cash balance per the end of period amounted to 75.1 (31.5) MSEK
Comments by the CEO
We continue to grow our recurring revenues, up by 24% year-on-year in the third quarter. For the period January through September, the recurring revenues grew by 20%. This is in line with our strategic direction of shifting to a pre-dominantly recurring revenue business model. Strong gross margin of 89% combined with controlled OPEX provided for a positive EBITDA in the quarter.
The third quarter of last year saw substantial perpetual (one-time) license deals with non-recurring positive EBITDA impact. During the third quarter this year no large perpetual license deals have been signed, which implies that the underlying business is developing positively and according to the strategy of gaining more stable and predictable recurring revenues.
Our business pipeline is strong and growing and holds significant near-term opportunities across all of our focused verticals. The aforementioned acquisition of another Swedish cybersecurity company will contribute with highly important technology capabilities as well as attractive growth opportunities.
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https://news.cision.com/clavister/r/preliminary-financial-information-for-the-third-quarter,c3442167
https://mb.cision.com/Main/9441/3442167/1487807.pdf
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