Cyviz AS - Q2 2021: Strong growth with record high booking and revenue numbers

The need for functional collaboration solutions to bridge geographies and allow for immersive in-room experiences increases, and is driving demand for Cyviz collaboration solutions.  

- The second quarter of 2021 is historical, with record high revenues and order intake and positive EBITDA sustaining the growth trajectory. It demonstrates that the results for Q1 were the start of a journey that continues in Q2 and gives headway to our long-term targets, says Espen Gylvik, CEO of Cyviz.

- Cyviz has added several significant accounts to its portfolio over the years and continues to attract global leaders with its outstanding technology platform and services. The benefits for large multinationals standardizing on the Cyviz Easy Software Platform are many, bringing efficiency gains and outstanding user experiences to collaboration rooms and operations centers, says Gylvik

Microsoft success continues in Q2 

- Microsoft is one standout example and has become an important account. In Q2 2021 12 projects have been delivered across multiple regions, more orders are anticipated regularly in the coming quarters, and the deliveries are tracking against the plan. The solutions for Microsoft Technology Centers worldwide are visual collaboration solutions built on the Cyviz Easy Software Platform and serves to power Microsoft’s most important customer and partner engagement arenas, says Gylvik.

- The recruitment efforts continue, and since the beginning of the year, 27 new employees have started by the end of Q2 including 11 new salespeople across the US, Europe and Asia. Total global headcount has now reached 131. The pace of hiring is faster than expected driven by growth in demand for our solutions and is a good indication that Cyviz is an attractive place to work, says Gylvik.

Highlights Q2 2021 

• • 182% year-on-year growth in order intake to NOK 108 million   
• • 113% year-on-year increase in revenue to NOK 102 million 
• • EBITDA of NOK 7.4 million, evidencing scalability of the business model  
• • Microsoft orders of NOK 65 million and delivering against plan  
• • Backlog increased to NOK 119 million from NOK 114 million at the end of Q1 2021  

The interim financial report and presentation for Q2 2021 are enclosed.  

Cyviz AS is presenting its Q2 2021 financial results on Tuesday 31. august 2021 at 14:00 (CET) and hereby invites investors, analysts and other stakeholders to a webcast with Q&A. The webcast will be moderated by Carnegie analyst Kristian Støle. If you want Kristian Støle to ask your questions to the management, these can be sent to info@xtrainvestor.com or during the webcast.

Link to the webcast: https://inqrate.com/xtravideos/cyviz-presentation-with-qa-august-31-2021/ 

The report, presentation, and a link to the recorded webcast will be made available at https://www.cyviz.com/investor-relations/