Bambuser reports ARR growth and improvements in profitability and cash flow in Q1 2023
Bambuser reports Q1 2023 restated ARR of SEK 139 million, representing year-over-year growth of 26% at constant exchange rates (“CER”). The cash balance closed at SEK 347.8 million, sufficient to take Bambuser to positive cash flow.
The Adjusted EBITDA margin improved by 14%p. year-over-year following initiatives to trim the cost base and make the business more efficient. The free cash flow margin also improved by 35%%p. year-over-year.
Bambuser signed several new contracts with enterprise customers across all markets in the quarter, including Sonos, Cybex, and Sneakersnstuff. The Company further renewed and expanded several contracts, including Oriflame, Clarins, Shiseido, and Adastria.
Q1 2023 Key highlights
- Weaker macro impacting ARR growth but improved profitability and free cash flow y/y.
- Restated ARR of SEK 139.0 million, +26% y/y at constant exchange rates (“CER”) driven by Americas and APAC.
- Net Sales of SEK 51.6 million (51.1) with SaaS revenue growth of +25% y/y.
- Adjusted EBITDA of SEK -29.0 million (-41.6), representing a -53% margin and a 14%p. margin improvement vs. Q1 2022
- Free Cash Flow of SEK -30.7 million (-48.2), representing a -59% FCF margin and a 35%p. margin improvement vs. Q1 2022.
- End of quarter Cash Balance of SEK 347.8 million (491.9), which is sufficient to take Bambuser to positive cash flow.
- ARR has been updated following an updated definition which includes discounts.
The full Q1 2023 report is published at https://ir.bambuser.com/report-archive
