STOCKHOLM, SWEDEN / ACCESSWIRE / May 8, 2024 / Bambuser AB (STO:BUSER)(FRA:5JL) Bambuser reports a Q1 2024 ARR of SEK 98.9 million, representing a quarter over quarter decline of 8% at constant exchange rates ("CER"). The Adjusted EBITDA was SEK -24.8 million, in line with implemented cost enhancements. The free cash flow for the quarter ended at SEK -24.7 million, a year over year improvement of SEK 6 million. The cash balance closed at SEK 247.3 million, which is sufficient to take Bambuser to positive cash flow.
Bambuser's One-to-One solution, which is evolving into a full Digital Clienteling solution, experienced a significant increase in net new bookings. Notably, this growth included securing a master service agreement with the world's largest beauty company headquartered in France.
Bambuser signed several new contracts with enterprise customers in the quarter, including UK's largest consumer electronics retailer, WearThat (personalized fashion company), and Mela Platforms (video commerce technology experts). The Company further renewed and expanded its partnership with the LVMH group.
Q1 Key highlights
- ARR of SEK 98.9 million, -24% y/y and -8% q/q at constant exchange rates ("CER").
- Net Sales SaaS of SEK 26.7 million (34.2) representing a growth of -22% y/y and -6% q/q.
- Adjusted EBITDA of SEK -24.8 million (-31.0), representing a -93% margin, -4%p. y/y and +2%p. q/q.
- Free Cash Flow of SEK -24.7 million (-30.6), representing a -93% FCF margin, -33%p. y/y and -7%p. q/q.
- End of quarter Cash Balance of SEK 247.3 million (347.8), which is sufficient to take Bambuser to positive cash flow.
- Net new bookings for Q1 2024 ended on a positive for the first time since Q4 2022.
Significant events after the quarter
- In April 2024, Bambuser acquired Klarna's virtual shopping solution. This solution provides personalized customer experiences in e-commerce through insight driven chat and video calls.
The full Q1 2024 report is published at https://ir.bambuser.com/report-archive
About Bambuser
Bambuser is the world's leading video commerce company with the largest customer base in its industry. More than 250 brands from 40+ countries leverage Bambuser's best-in-class solutions.
Bambuser is truly global with headquarters in Stockholm and offices in New York, London, Paris, Tokyo, and Turku, and with a passionate team speaking more than 30 languages. Founded in 2007 as a livestreaming pioneer, trusted by the world's leading news agencies, Bambuser pivoted to Live Shopping in 2019, leveraging its legacy as the industry leader in video-first technology.
Contact information
Corporate Communications, Bambuser AB
+46 8 400 160 00 | ir@bambuser.com
Certified Adviser
Carnegie Investment Bank AB (publ)
This information is information that Bambuser AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-05-08 08:00 CEST.
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SOURCE: Bambuser AB
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