DIVIO TECHNOLOGIES AB SUMMARY OF THE REPORT
Fourth quarter:
- Subscription revenue increased by approximately 15% to KSEK 5,011 (4,373)
- MRR in December was KUSD 153 (136)
- EBIT was KSEK -3,871 (-2,463)
- EPS before dilution was
SEK -0.02 (-0.01) - Cash position was KSEK 12,637 (2,057)
Full Year:
- Subscription revenue increased by approximately 14% to KSEK 18,648 (16,290)
- EBIT was KSEK -14,293 (-10,399)
- EPS before dilution was
SEK -0.08 (-0.11)
Significant events (Fourth quarter)
- Strengthening the team by recruitment of CPO
- Preparation of the launch of Open Cloud self-service offering
- New client signed where
Divio will enable their transition to the cloud
Significant events (Full year)
- The funds from the issue of units was received in January and the bridge loan was repaid. Funds from warrants were also received in the period totaling 15 MSEK before costs (units and warrants).
- Increased lead generation and renewal of largest client with a 2.5 year agreement
Significant events after the quarter
Divio receives a contract extension of the value of approximately 12 MSEK whereof 8 MSEK is to be prepaid in Q1 2024
| Fourth quarter (3 months) | Full year (12 months) | |||||||
| KSEK | 2023 | 2022 | % | 2023 | 2022 | % | ||
| Key Financials | ||||||||
| Subscription revenue | 5,011 | 4,373 | 15% | 18,648 | 16,290 | 14% | ||
| Professional services revenue | 129 | 937 | -86% | 1,216 | 2,551 | -52% | ||
| Net sales | 5,140 | 5,310 | -3% | 19,864 | 18,840 | 5% | ||
| Total revenue | 8,017 | 6,421 | 25% | 27,076 | 23,415 | 16% | ||
| Costs | -10,376 | -7,417 | -40% | -35,384 | -28,325 | -25% | ||
| EBITDA | -2,360 | -997 | -137% | -8,309 | -4,910 | -69% | ||
| Dep / Am | -1,511 | -1,466 | -3% | -5,984 | -5,489 | -9% | ||
| EBIT | -3,871 | -2,463 | -57% | -14,293 | -10,399 | -37% | ||
| MRR (KUSD) | 153 | 136 | 13% | |||||
| Cash position | 12,637 | 2,057 | 514% | |||||
CEO COMMENTS
I am thrilled to update you on the recent progress and accomplishments at
Performing sales team
After a long period where we tested different sales capacities, we have now found a functional team that has both the understanding of our product and the ability to sell. Our sales team has been delivering good results, showcasing steady growth in the pipeline trajectory. We've successfully landed a few and cultivated numerous promising leads, both small and large, in our pipeline, reflecting the team's dedication and effectiveness. Of the customers we managed to get, Enio is of particular interest because thanks to
Sales achievements
Additionally, we're pleased to announce the three-year renewal of our largest customer application support, further solidifying our relationships and demonstrating the trust our clients place in us, as evidenced by their prepayment commitment.
Organisational improvements
In the last report, I welcomed our new Chief Product Officer (CPO)
Relaunch of open cloud/self-service
Furthermore, we're excited to share the launch of our new open cloud offering, an initiative that will both let smaller customers get access to our platform and customers that we can grow within a highly scalable way without almost any support from
In summary, the accomplishments and advancements outlined here are a testament to the commitment and efforts of our entire team. Our steadfast dedication to excellence across all facets of our business fuels our optimism about
Thank you for your dedication and commitment.
Sincerely,
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