STOCKHOLM, Nov. 6, 2020 /PRNewswire/ -- Net sales had an accelerated growth of +1486% during the third quarter compared to the prior year. Bambuser experienced a continued increasing global demand for its Live Video Shopping technology. The Company's quarterly statement for the third quarter of 2020 has now been published and can be found at bambuser.com/ir.
Bambuser continued to benefit from increased customer demand for Live Video Shopping in Q3. That pace is accelerating as retailers adapt their holiday-season strategies amid the ongoing pandemic. As previously reported, all major customer agreements (Enterprise) are initiated, with a test period, usually called a pilot or proof-of-concept. After the end of the trial period, these are converted into new ordinary agreements. As of today, none of Bambuser's previously entered agreements has been churned.
First nine months (January - September 2020)
- Net sales rose during the first nine months by +657% YoY and amounted to SEK 17.270 million (2.280)
- Total revenues: SEK 21.738 million (2.920)
- EBIT: SEK -22.141 million (-13.973)
- Net income: SEK -22.185 million (-14.040)
- Earnings per share: -0.13 SEK (-0.21)
- Cash flow from operating activities: SEK -20.002 million (-14.042)
- Cash at the end of the period: SEK 349.411 million (23.478)
Third quarter (July - September 2020)
- Net sales growth accelerated in Q3 of +1486% YoY and amounted to SEK 10.107 million (0.637)
- Total revenues: SEK 12.203 million (1.158)
- In Q3, Live Video Shopping drove 90% of Bambuser's revenue - a proportion that continues to climb each month
- End of Period MRR: SEK 2.3 million
- EBIT: SEK -9.218 million (-4.270)
- Net income: SEK -9.231 million (-4.290)
- Earnings per share of -0.06 SEK (-0.06)
For environmental and cost reasons, Bambuser AB has decided not to print the report. A printout may be distributed to shareholders upon request.
This disclosure contains information that Bambuser is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on November 6, 2020, 08:00 CET.
Contact information
Maryam Ghahremani, CEO | +46 8 400 160 02 | ir@bambuser.com or visit bambuser.com/ir
Certified Adviser
Erik Penser Bank AB | +46 8 463 83 00 | certifiedadviser@penser.se
About Bambuser AB
Bambuser is a software company specializing in interactive live video streaming. The Company's primary product, Live Video Shopping, is a cloud-based software solution that is used by customers such as global e-commerce and retail businesses to host live shopping experiences on websites, mobile apps and social media. Bambuser was founded in 2007 and has its headquarters in Stockholm.
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https://news.cision.com/bambuser/r/bambuser-ab-publishes-quarterly-statement-for-q3-2020,c3232509
The following files are available for download:
https://mb.cision.com/Main/15749/3232509/1331494.pdf | Press Release |
https://mb.cision.com/Public/15749/3232509/a00f8400860fcf1b.pdf | Bambuser Q3 Statement Jul-Sep 2020 |
