Divio Technologies AB (publ) increased subscription revenues by 10% in Q1 2024
SUMMARY OF THE REPORT
First quarter: 1 JAN 2024 TO 31 MAR 2024
- Net sales increased by 9%, to KSEK 5,100 (4,661)
- Subscription revenue was KSEK 4,864 (4,440)
- MRR in March was up 11% to KUSD 138 (138)
- EBIT was KSEK -5,851 (-3,577)
- EPS before dilution was SEK -0,04 (-0,03)
- Cash position was KSEK 5,356 (9.145)
Significant events (First quarter)
- Divio receives a contract extension of the value of approximately 12 MSEK whereof 8 MSEK is to be prepaid
- Launch of self-service offering enabling free trials without hands-on involvement from Divio which will generate relevant leads for the sales team
Significant events after the quarter
- Payment of approximately MSEK 8 was received in April 2024 for above mentioned support contract extension
| First quarter (3 months) | Full year (12 months) | |||||||
| KSEK | 2024 | 2023 | % | 2023 | ||||
| Key Financials | ||||||||
| Subscription revenue | 4,864 | 4,440 | 10% | 18,648 | ||||
| Professional services revenue | 236 | 221 | 7% | 1,216 | ||||
| Net sales | 5,100 | 4,661 | 9% | 19,864 | ||||
| Total revenue | 6,747 | 5,864 | 15% | 27,075 | ||||
| Costs | -11,051 | -7,982 | -38% | -35,384 | ||||
| EBITDA | -4,304 | -2,118 | -103% | -8,309 | ||||
| Dep / Am | -1,547 | -1,459 | -6% | -5,984 | ||||
| EBIT | -5,851 | -3,577 | -64% | -14,293 | ||||
| MRR (KUSD) | 153 | 138 | 11% | 153 | ||||
| Cash position | 5,356 | 9,145 | -41% | 12,637 | ||||