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. 

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

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SOURCE Bambuser

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