Clavister Q1 2022: Recurring Revenue Growth of 15%
May 12, 2022, Örnsköldsvik, Sweden. Clavister, a leader in high-performance cybersecurity solutions, released its first quarterly report for 2022.
“A new security order in Europe drives demand in the defense vertical. The first quarter saw a nominal order intake increase, while recurring revenue grew with a solid 15%. Cost optimizations are progressing according to plan, and cash position has improved substantially in the period.”
John Vestberg, President and CEO
The first Quarter
• Order Intake amounted to 37.0 (36.1) MSEK.
• Net Sales amounted to 32.6 (30.6) MSEK. FX adjusted Net Sales amounted to 32.1 (31.6), an increase of 0.5 MSEK.
• Recurring revenue grew with 15 (12) %.
• Gross Profit amounted to 27.7 (26.7) MSEK, corresponding to a gross margin of 81.9 (85.7) %.
• EBITDA amounted to -5.4 (-7.0) MSEK.
• EBIT amounted to -15.1 (-16.0) MSEK.
• Net Profit amounted to -26.2 (-26.3) MSEK and earnings per share to -0.46 (-0.49) SEK.
• Cash and cash equivalents amounted to 84.4 (110.7) MSEK.
• After the period end, Clavister AB and the European Investment Bank (EIB) have rescheduled Clavister’s repayment plan for the EUR 20 million loan facilities. The repayment schedule has been amended to an amortizing repayment plan and the repayment schedule spans the years 2023 – 2026. Repayments in 2023 will thus be reduced from EUR 15 million to EUR 0.5 million.
The full quarterly report can be found at the Company’s web page: https://www.clavister.com/company/investor-relations/financial-reports/2022-2/
At 09:00 CET, May 12, Clavister’s CEO John Vestberg and CFO, David Nordström will be presenting the quarterly results in a live websession. Following the presentation, the audience will be given the opportunity to ask John and David questions in a Q&A session. Register at https://www.clavister.com/company/investor-relations/financial-reports/2022-2/