STOCKHOLM, SE / ACCESSWIRE / August 22, 2024 / Bambuser AB (STO:BUSER)(FRA:5JL) Bambuser reports a Q2 2024 ARR of SEK 105.2 million, representing a quarter-over-quarter growth of +7% at constant exchange rates ("CER"), and an organic quarter-over-quarter growth of -2% at CER. The Adjusted EBITDA was SEK -22.5 million and the free cash flow for the quarter ended at SEK -21.1 million, both measures reflecting the effectiveness of undertaken changes towards becoming a more streamlined organization. The cash balance closed at SEK 220.0 million, which is sufficient to take Bambuser to positive cash flow.
During the quarter, Bambuser closed the acquisition of the HERO solution from Klarna, which brings the concept of personalized customer experiences to e-commerce through chat and video calls.
Bambuser continued signing several new contracts with enterprise customers in the quarter, including Audi, Luisaviaroma, and Hy-Vee.
Q2 Key highlights
ARR of SEK 105.2 million, -14% y/y and +7% q/q growth at constant exchange rates ("CER"), an organic growth of -22% y/y and -2% q/q ("CER").
Net Sales SaaS of SEK 26.9 million (32.3) representing a growth of -17% y/y and +1% q/q.
Adjusted EBITDA* of SEK -22.5 million (-34.9), representing a -84% margin, +24%p. y/y and +9%p. q/q.
Free Cash Flow of SEK -21.1 million (-24.3), representing a -78% FCF margin, -29%p. y/y and +14%p. q/q.
End of quarter Cash Balance of SEK 220.0 million (324.0), which is sufficient to take Bambuser to positive cash flow.
Free Cash Flow reached its lowest burn rate to date, reflecting the effectiveness of undertaken cost-saving measures.
The full Q2 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 2024-08-22 08:00 CEST.
Attachments
Bambuser InterimReport Q2 2024
SOURCE: Bambuser AB
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