SUMMARY OF THE HALF-YEAR REPORT
FOR THE PERIOD
- MRR in June was KUSD 136 (146)
- Net sales increased by 12%, or KSEK 9,035 (8,096)
- Subscription revenue was KSEK 7,628 (7,459)
- Operating loss was KSEK -5,615 (-4,744)
- EBITA was KSEK -5,643 (-5,253)
SIGNIFICANT EVENTS DURING THE HALF YEAR
- Onboarded a large global non-profit organisation
- Achieved ISO 27001 certification
- Strengthened the board of directors with the recruitment of Leif Liljebrunn who also took over as Chairman
-
Onboarded 4
CloudFlare customers -
Established a sales team for DACH (German,
Austria &Switzerland ) market
IMPORTANT EVENTS AFTER THE HALF YEAR
- MRR in August is expected to be 141 KUSD compared to 136 in June
-
Recruited a new CFO:
Fredrik Wallmark , formerly CFO ofBambuser -
Initiated a new sales strategy targeting mid-sized companies with typically shorter sales cycles
Key indicators |
Jan- |
Jan- |
MRR (monthly recurring revenue) KUSD | 136 | 146 |
Subscription revenue, KSEK | 7,628 | 7,459 |
Cash and cash equivalents at the end of the period, KSEK | 7,953 | 18,875 |
CEO COMMENTS
I am very pleased that the first half of the year has been so productive for
At the AGM, Leif Liljebrunn was elected as our new Chairman. Leif has extensive experience of growing smaller companies and has achieved success with
We have also recruited a new CFO -
The efforts we have put into ISO compliance were rewarded in February with a well-deserved ISO 27001 certification. Our state-of-the-art platform is the heart of
Sales have started to pick up in the first half of the year and I am especially gratified by our agreement with a large global non-profit organisation which has already more than doubled its investment in
Following a thorough analysis of the market and our existing customers as well as dialogues with new customers, we have decided to extend our sales strategy and reposition the company to accelerate growth. We have developed a platform designed to meet the requirements of enterprise customers in terms of capacity, security, support, etc. These are qualities that small and medium-sized enterprises also desire but often cannot afford. However, the flexibility of our platform enables us to offer medium-sized customers an enterprise solution at a cost they can afford. An advantage of smaller and medium customers is that they typically have much shorter and simpler decision-making processes. They tend to seek partners who see and value their potential and regard them as an important customer. We expect to gain a lot more business from companies we can grow with. Best of all, we have already gained buy-in for our new direction which also means a new communications approach and a simpler process for our sales team.
We have learnt a lot over the past year and I am proud of the efforts of our excellent team, which continues to grow and achieve great results - as confirmed by customers who praise our solution. We are getting closer and closer to the well-deserved breakthrough and success.
CEO
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