Stockholm, Sweden, November 20, 2020
The full version of the January to September 2020 Interim Report is attached to this press release and is available on Hoylu’s website (www.hoylu.com).
“Remote working, digital transformation and the need for more intuitive and easier-to-use tools are factors driving the high demand for collaboration solutions. More and more customers are discovering the benefits of visual communication that go beyond video conferencing and simple screen sharing to ensure a more engaging, efficient and productive decision-making process. Recent studies in the United States show that over 50% of the US workforce is in jobs compatible with remote work and that we will see a significant increase in adoption at 25-30% of the workforce. workers working from home over several days. – one week by the end of 2021, ”says Stein Revelsby, CEO of Hoylu.
First nine months 2020
– Recurring annual revenue (“ARR”) and long-term service contracts for 2020 at the end of the period amounted to 24.0 MSEK, up 13% from 21.3 million of MSEK at the end of Q2 2020 – First nine months revenue was SEK 22.2 million (19.0)
– Gross margin was 70% (69)
– The operating loss amounts to SEK 21.9 million (-22.7)
– Profit after tax is -24.1 million SEK (-27.5)
– Earnings per share amounted to SEK -0.54 (-1.51)
THIRD QUARTER 2020
– TAR and long-term service contracts for 2020 increased by 3.3 MSEK in the third quarter
– Third quarter revenue amounted to SEK 6.1 million (6.3)
– Gross margin was 73% (69)
– Third quarter EBITDA was MSEK -6.3 (-5.7)
– The operating loss was SEK 8.3 million (-7.1)
– Profit after tax amounts to -8.5 million SEK (-7.8)
– Earnings per share amounted to SEK -0.11 (-0.31)
Hoylu’s mission is to facilitate remote working and information sharing. With our customizable Connected Workspaces ™, we deliver software solutions for businesses, organizations and individuals in virtually every industry that empower teams large and small to work efficiently and securely in a flow of intuitive and simple work.
For more information: www.hoylu.com.
Ticker Symbol: Hoylu
Market: Nasdaq First North Growth Market
Certified advisor: Mangold Fondkommission AB +46 (0) 8 50301550, [email protected]
This information is information that Hoylu AB is required to make public in accordance with the EU Market Abuse Regulation. The information has been submitted for publication, through the agency of the contact person mentioned above, at 8:30 a.m. CET on November 20, 2020.