Correction: Bambuser continued strong business momentum in the second quarter with ARR growth of 118% year on year
This correction is published due to that the previous press release was published without EU Market Abuse Regulation (MAR) stamp.
Bambuser reported a solid ARR of 120,1 MSEK, an increase of 118% compared to last year. The growth was primarily driven by strong demand from enterprise customers in North America and Europe. The cash balance closed at 442,7 MSEK, sufficient to take Bambuser to positive cash flow.
The second quarter included significant new contracts, expansions, and renewals with brands such as Shiseido, LVMH, Nars, Samsung Electronics UK, and Leroy Merlin. Compelling user data further demonstrated the strong adoption trend with the number of unique viewers increasing 286% year on year. The data shows that Bambuser’s One-to-Many product has found its market fit and is facing an enormous total addressable market - still in its infancy and with considerable untapped opportunity.
The interim report is published at ir.bambuser.com.
Second quarter of the year (April – June 2022)
- Q2 2022 ARR of 120,1 (55,2) MSEK, +118% y/y
- Q2 2022 Net Sales of 49,7 (27,3) MSEK, +82% y/y
- Q2 2022 adjusted EBITDA of -44.6 (-26,8) MSEK. -76% margin, +1%p y/y.
- EBIT -58 MSEK (-42,7)
- Cash flow from operations -42,6 (-13,8) MSEK.
- Ending the quarter with a healthy cash position at 442,7 (613,5) MSEK. Cash balance is sufficient to take Bambuser to positive cash flow.
Comment from CEO, Maryam Ghahremani
“I am proud to report yet another quarter with solid growth. Despite a weaker macroeconomic backdrop, we continue to expand at a rapid pace with ARR growing 118% y/y in the quarter. We see continued strong adoption amongst our customers and their end consumers, evidenced by the number of unique viewers on our One-to-Many platform growing by 286% y/y in the quarter.”
