Bambuser AB Publishes Year-End Report for 2020

STOCKHOLM, Feb. 24, 2021 /PRNewswire/ -- Bambuser today publishes its Year-End Report for 2020, which reveals a significant increase in net sales as demand for the Company's Live Video Shopping technology continues to grow. 

The report, which can be found at bambuser.com/ir, provides details of the Company's financial performance throughout 2020. Additionally, it outlines key developments during Q4 2020, with updates on enterprise customer acquisition and retention, further platform development and ongoing strategic growth initiatives. Highlights include:

Customer Updates

• Number of active customers increased 105 percent from Q3 to Q4.

• Beauty, fashion and luxury lead growth, with new customers including adidas, Esprit, Veepee and FARFETCH as well as expansions of previously-announced deals with Clarins, Tommy Hilfiger and ETAM.

• Home and food/beverage emerge as strong categories with customers like Cervera, Mixtiles and Your Superfoods.

• Creative implementations such as Svenskt Tenn's immersive holiday experience, Kjell & Company's Black Friday marathon and the Klarna/NA-KD Livestyle series demonstrate platform flexibility while driving impressive results.

Platform Development 

• Technology integrations with leaders such as Shopify & Salesforce grow white-label opportunities.

• New platform capabilities like Dual Hosting, ADA compliance and external camera compatibility increase usability across an array of demanding customer scenarios.

• Added functions such as Floating Action Button Previews and sharing from timestamp or prescreen increase ability to drive awareness and catalyze social engagement.

Financial Performance

Full year 2020 (January - December 2020)

• Net sales showed strong growth, reaching SEK 31.1 million (3.2) through December, an increase of 872 percent YoY. 

• Total income: SEK 42.4 million (4.4). 

• EBIT: SEK -63.7 million (-19.9) 

• Net income: SEK -63.8 million (-19.6).

• Earnings per share: -0.39 SEK (-0.29) 

• Cash flow from operating activities: SEK -35.5 million (-17.7).

• Cash at the end of the period: SEK 317.8 million (15.6).

Fourth quarter of 2020 (October - December 2020)

• Net sales growth accelerated in Q4, reaching SEK 13.8 million (0.9), an increase of +1,403 percent YoY. 

• One-time purchase agreement with First Bank of 4.0 million classified as other operating income.

• In Q4, Live Video Shopping drove 95 percent of Bambuser's net sales, and this proportion continues to climb each month. 

• Total income: SEK 20.6 million (1.5). 

• EBIT: SEK -41.6 million (-5.9). 

• End of Period MRR: SEK 4.0 million.

• Net income: SEK -41.6 million (-5.5).

• Earnings per share of -0.25 SEK (-0.09).

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 February 24, 2021, 07:00 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-year-end-report-for-2020,c3294468

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SOURCE Bambuser

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