Cyviz AS announces Q3 financial results
Cyviz announces its results for the third quarter of 2023 today, reporting operating revenues of NOK 120.3 million, up 3.4 percent compared to the same quarter in 2022. The company's EBITDA was NOK -6.6 million, down from NOK 4.7 million in the same period last year. The rolling 12-month EBITDA was NOK 25.4 million. The gross margin in the third quarter was 47.3 percent, remaining stable compared to the third quarter of 2022.
The third quarter is traditionally a weaker quarter than the others. Additionally, Cyviz experienced a shift of a significant defense sector deal in the USA to Q4 2023 and Q1 2024, impacting order intake in this quarter.
"Cyviz is well positioned in a global market for advanced digital collaboration solutions with great potential driven by strong trends such as hybrid offices, cost-cutting, and climate focus. The company's pipeline for the last months of 2023 has significantly strengthened throughout the quarter. With a revenue growth of 36 percent and positive EBITDA in the first nine months of the year, we are well on track to achieve our growth ambitions for the year and lay the foundation for continued profitable growth in 2024," says Cyviz CEO Espen Gylvik.
Strategic new customers in the third quarter include:
- Signing of the first Fortune 100 FMCG customer
- New agreement with Microsoft in the Netherlands for their Holo Suite center
- New major customer in the energy sector
- New strategic agreement with Aker BP
In the third quarter, Cyviz announced a strategic partnership with Aker BP, where Cyviz will contribute to establishing new, forward-looking methods for offshore operations.
"The partnership with Aker BP represents a valuable opportunity to enhance our products and services. This knowledge exchange will further position Cyviz in the global energy market while also representing a significant milestone in our presence in the Norwegian market," says Espen Gylvik.
Cyviz AS presents its results for the third quarter of 2023 today, Friday, November 10, at 09:00 (CET), inviting investors, analysts, and other interested parties to a live webcast. CEO Espen Gylvik and CFO Marius Skagen will represent the company. Viewers are encouraged to submit questions during the presentation via the webcast.
Webcast link:
https://channel.royalcast.com/landingpage/hegnarmedia/20231110_3/
The report, presentation, and link to the recording of the webcast are available at: https://www.cyviz.com/investor-relations/
Disclosure regulation
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
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About Cyviz
Cyviz is a global technology provider for comprehensive conference and control rooms as well as command and experience centers. Since 1998, Cyviz has simplified the way the digital workforce connects, visualize, and collaborate across technologies and critical data. The IT-driven solutions are easy to deploy, manage and support. Today, Cyviz serves global enterprises and governments with the highest requirements for usability, security, and quality. The cross-platform experience Cyviz delivers to manage and control systems and resources across the enterprise makes Cyviz the preferred choice for customers with complex needs.
Find out more on www.cyviz.com or visit one of our Cyviz Experience Centers in Atlanta, Dubai, Jakarta, Houston, London, Oslo, Riyadh, Singapore, Stavanger, or Washington DC.
Cyviz is listed on Euronext Growth at the Oslo Stock Exchange (ticker: CYVIZ)
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