Bambuser Continues to Improve Free Cash Flow and Adjusted EBITDA
Bambuser reports a Q1 2024 ARR of SEK 98.9 million, representing a quarter over quarter decline of 8% at constant exchange rates (“CER”). The Adjusted EBITDA was SEK -24.8 million, in line with implemented cost enhancements. The free cash flow for the quarter ended at SEK -24.7 million, a year over year improvement of SEK 6 million. The cash balance closed at SEK 247.3 million, which is sufficient to take Bambuser to positive cash flow.
Bambuser's One-to-One solution, which is evolving into a full Digital Clienteling solution, experienced a significant increase in net new bookings. Notably, this growth included securing a master service agreement with the world's largest beauty company headquartered in France.
Bambuser signed several new contracts with enterprise customers in the quarter, including UK’s largest consumer electronics retailer, WearThat (personalized fashion company), and Mela Platforms (video commerce technology experts). The Company further renewed and expanded its partnership with the LVMH group.
Q1 Key highlights
- ARR of SEK 98.9 million, -24% y/y and -8% q/q at constant exchange rates (“CER”).
- Net Sales SaaS of SEK 26.7 million (34.2) representing a growth of -22% y/y and -6% q/q.
- Adjusted EBITDA of SEK -24.8 million (-31.0), representing a -93% margin, -4%p. y/y and +2%p. q/q.
- Free Cash Flow of SEK -24.7 million (-30.6), representing a -93% FCF margin, -33%p. y/y and -7%p. q/q.
- End of quarter Cash Balance of SEK 247.3 million (347.8), which is sufficient to take Bambuser to positive cash flow.
- Net new bookings for Q1 2024 ended on a positive for the first time since Q4 2022.
Significant events after the quarter
- In April 2024, Bambuser acquired Klarna’s virtual shopping solution. This solution provides personalized customer experiences in e-commerce through insight driven chat and video calls.
The full Q1 2024 report is published at https://ir.bambuser.com/report-archive
