Stockholm, Sweden, November 20, 2020
The complete version of the Interim Report for January - September 2020 is attached in this press release and is available on Hoylu's web site (www.hoylu.com).
“Remote work, digital transformation, and the need for tools that are more intuitive and easy to use are factors driving the high demand for collaboration solutions. More and more customers are discovering the benefits of visual communication that go beyond videoconferencing and simple screen-sharing to ensure a more engaging, efficient, and productive decision-making process. Recent studies in the US show that more than 50% of the US workforce holds a job that is compatible with remote work and that we will see a significant upswing in adoption to 25-30% of the workforce working at home on a multiple-days-a-week basis by the end of 2021,” says Hoylu Chief Executive Officer, Stein Revelsby.
FIRST NINE MONTHS 2020
- Annual Recurring Revenue ("ARR") and long-term service contracts for 2020 at the end of the period was MSEK 24.0, up 13% from MSEK 21.3 million at the end of Q2, 2020- Revenues for the first nine months were SEK 22.2 million (19.0)
- Gross margin was 70 percent (69)
- Operating loss amounted to SEK 21.9 million (-22.7)
- Profit after tax amounted to SEK -24.1 million (-27.5)
- Earnings per share amounted to SEK -0.54 (-1.51)
THIRD QUARTER 2020
- ARR and long-term service contracts for 2020 increased MSEK 3.3 during the third quarter
- Revenues for the third quarter were SEK 6.1 million (6.3)
- Gross margin was 73 percent (69)
- EBITDA for the third quarter was MSEK -6.3 (-5.7)
- Operating loss was SEK 8.3 million (-7.1)
- Profit after tax amounted to SEK -8.5 million (-7.8)
- Earnings per share amounted to SEK -0.11 (-0.31)
For more information, please contact:
Stein Revelsby, CEO at Hoylu +1 213 440 2499 Email: sr@hoylu.com
Karl Wiersholm, CFO at Hoylu +1 425 829 2316 Email: kw@hoylu.com
About Hoylu
Hoylu’s mission is to make remote work and information sharing easy. Through our customizable Connected Workspaces™ we deliver software solutions for companies, organizations and individuals across virtually all industries that enable all teams, big and small to work efficiently and securely in an intuitive and easy workflow.
For more information: www.hoylu.com.
Ticker symbol: Hoylu
Marketplace: Nasdaq First North Growth Market
Certified Adviser: Mangold Fondkommission AB +46 (0) 8 50 301 550, ca@mangold.se
Publication
This information is information that Hoylu 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 person set out above, at 08:30 CET on November 20, 2020.
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