Highlights from Q3 2023:
Profitability still improving, fourth consecutive quarter with positive EBITA adj.
- Net gross profit margin up from 29% to 33% y/y, due to growth in higher margin software and services business and increasing hardware margins
- Continued decline in operating costs and personnel expenses
Slow commercial momentum, recurring revenue base up 5% y/y
- Recurring revenue annualised up 2% from previous quarter to
NOK 306 million , impacted by weaker Hardware-as-a-Service sales -
ARR from
Own Software atNOK 111 million , 12% growth y/y
Refinancing secures increased financial flexibility
- Refinanced the company's term loans and credit facilities with a new banking relationship and converted all remaining seller credits to shares
-
Positive cash flow from operations, cash position at
NOK 68 million at the end of quarter
On 1 November,
- 25 years' sector experience, with deep understanding of the mobile technology industry
-
Held several prominent positions in
Techstep and part of the management team since Q4 2022
"As newly appointed interim CEO of
Material
Please find the report and presentation for Q3 2023 enclosed.
Presentation and Q&A:
The management presents the results in a pre-recorded webcast, can be accessed by clicking here
A live Q&A session will take place today at
Questions for the Q&A session may be submitted in advance to ir@techstep.no, or live during the session itself. A recording of the Q&A-session will be made available on techstep.io after the session has concluded.
For more information:
David Landerborn, Interim CEO,
About
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
This
http://publish.ne.cision.com//Release/ViewReleaseHtml/C21E38E25C3A568CE0C856B0705FC7D6
https://mb.cision.com/Public/16587/3872997/b9ba5468d0dd72bd.pdf
https://mb.cision.com/Public/16587/3872997/a6c9d1d6ff1cac68.pdf
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