Bambuser AB publishes quarterly statement for Q3 2020

STOCKHOLM, Nov. 6, 2020 /PRNewswire/ -- Net sales had an accelerated growth of +1486% during the third quarter compared to the prior year. Bambuser experienced a continued increasing global demand for its Live Video Shopping technology. The Company's quarterly statement for the third quarter of 2020 has now been published and can be found at bambuser.com/ir.

Bambuser continued to benefit from increased customer demand for Live Video Shopping in Q3. That pace is accelerating as retailers adapt their holiday-season strategies amid the ongoing pandemic. As previously reported, all major customer agreements (Enterprise) are initiated, with a test period, usually called a pilot or proof-of-concept. After the end of the trial period, these are converted into new ordinary agreements. As of today, none of Bambuser's previously entered agreements has been churned.

First nine months (January - September 2020)

• Net sales rose during the first nine months by +657% YoY and amounted to SEK 17.270 million (2.280)
• Total revenues: SEK 21.738 million (2.920)
• EBIT: SEK -22.141 million (-13.973) 
• Net income: SEK -22.185 million (-14.040)
• Earnings per share: -0.13 SEK (-0.21) 
• Cash flow from operating activities: SEK -20.002 million (-14.042)
• Cash at the end of the period: SEK 349.411 million (23.478)

Third quarter (July - September 2020)

• Net sales growth accelerated in Q3 of +1486% YoY and amounted to SEK 10.107 million (0.637)
• Total revenues: SEK 12.203 million (1.158)
• In Q3, Live Video Shopping drove 90% of Bambuser's revenue - a proportion that continues to climb each month
• End of Period MRR: SEK 2.3 million
• EBIT: SEK -9.218 million (-4.270)
• Net income: SEK -9.231 million (-4.290)
• Earnings per share of -0.06 SEK (-0.06)

For environmental and cost reasons, Bambuser AB has decided not to print the report. A printout may be distributed to shareholders upon request. 

This disclosure contains information that Bambuser is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on November 6, 2020, 08:00 CET.

Contact information
Maryam Ghahremani, CEO | +46 8 400 160 02 | [email protected] or visit bambuser.com/ir

Certified Adviser
Erik Penser Bank AB | +46 8 463 83 00 | [email protected]  

About Bambuser AB
Bambuser is a software company specializing in interactive live video streaming. The Company's primary product, Live Video Shopping, is a cloud-based software solution that is used by customers such as global e-commerce and retail businesses to host live shopping experiences on websites, mobile apps and social media. Bambuser was founded in 2007 and has its headquarters in Stockholm. 

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/bambuser/r/bambuser-ab-publishes-quarterly-statement-for-q3-2020,c3232509

The following files are available for download:

SOURCE Bambuser