(Oslo, Norway -May 27, 2020 )Pexip Holding ASA reportedNOK 150.1 million in revenue for Q1 2020, an increase of 67% compared to the Q1 2019 revenue ofNOK 89.9 million . Revenue from Infinity,Pexip's self-hosted software offering, amounted toNOK 111.8 million , up fromNOK 66.8 million in Q1 2019. Revenue from cloud services amounted toNOK 38.3 million in Q1 2020, up fromNOK 23.1 million in Q1 2019. EBITDA wasNOK 35.8 million in Q1 2020 (24% of revenue) compared toNOK 19.8 million in Q1 2019 (22% of Revenue). The subscription base, measured in Annual Recurring Revenue (ARR), grew toUSD 57 million at the end of Q1 2020, which is an increase of 50% fromUSD 38 million at the end of Q1 2019. EMEA is the largest geography withUSD 31 million (y-o-y growth of 53%), followed byAmericas atUSD 20 million (y-o-y growth of 55%) and APAC atUSD 6 million (y-o-y growth of 27%).Odd Sverre Østlie,Pexip CEO, comments: "Pexip has experienced a significant increase in demand for our video conferencing platform as a result of Covid-19. We have seen a 7X spike in usage across existing and new customers, and the wholePexip team has been working extremely hard to support our customers through these challenging times. Now we are seeing that the situation has stabilized as many organizations have got tools and processes in place for remote working. We do, however, believe that Covid-19 will have a long-term effect on the demand for video communication as more people become used to meeting virtually." The presentation will be held onWednesday, May 27th, 2020 at08:00 CEST in English and will be led byOdd Sverre Østlie (CEO), Øystein Hem (CFO), andMichel Sagen (Chairman of the Board). Please register to view the live webcast here: https://www.pexip.com/q1-2020-results-webinar For further information, please contact: IR: Øystein Hem, CFO +47 992 34 596, IR@Pexip.com Press:Lars-Einar Petterson , +47 934 48 827, lars.einar.petterson@pexip.com AboutPexip Pexip is a global technology company delivering a video-first meeting platform with 15% of the Global Fortune 500 companies as customers. The Company's product offering is a highly scalable, cloud-native meeting platform that is deployable either as a service or a self-hosted solution in any public or private cloud environment. All offerings build onPexip's unique Infinity technology, and are delivered via a recurring subscription-based business model. The Company has more than 300 channel partners located in about 75 countries worldwide.
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