Cyviz AS – Q1 2023: 97 percent revenue growth and NOK 21 million improvement of EBITDA

Cyviz AS today publishes its financial results for the first quarter of 2023 with NOK 137 million in revenue, a growth of 97 percent compared to the same quarter in 2022. EBITDA improved by NOK 21 million to NOK 2.7 million, bringing
rolling 12 months EBITDA up to NOK 30 million.

"We see strong demand across all regions and customer sectors for our solutions for next level collaboration, and we almost doubled our revenues in the first quarter," says Espen Gylvik, CEO of Cyviz.

The government & defense sector as well as the corporate sector are important drivers for Cyviz, and during the first quarter, examples of significant deliveries were several projects for Accenture in London and Dublin, Aker BP at
Jåttå near Stavanger and the new envisioning theatre in Munich for Microsoft.

The company is well diversified in terms of geography, with North America being the largest region with 35 percent of revenues followed by the Middle East with 32 percent and Europe with 26 percent.