Cyviz AS – Q4 2022: Record-high revenue and EBITDA of NOK 19.6 million

Cyviz continues expansion with three new contracts for Microsoft Technology Centers in Europe and the Americas – valued at NOK 22 million (USD 2.7 million)

Cyviz AS today publishes its financial results for the fourth quarter of 2022, with record high revenue of NOK 180 million following a growth of 81 percent compared to the same quarter in 2021. EBITDA margin was 11 percent in the fourth quarter, and 2022 was the first full year of positive EBITDA for Cyviz.

“Work-life changed permanently post the pandemic, and the demand for digital collaboration solutions accelerates. Cyviz is a leading player in the advanced and high-end of the market globally, which is clearly demonstrated in our strong revenue growth. Equally important is the fact that we have delivered on our promise of positive EBITDA for the full year of 2022,” says CEO Espen Gylvik at Cyviz.

The demand for control rooms, innovation centers and advanced meeting rooms is solid in all regions, and the growth has been particularly strong within the government & defense sector. The order intake, which reflects the underlying run-rate of the business, and is a basis for future revenue, ended at NOK 143 million in the fourth quarter, up 24% compared to Q4 2021. The order backlog was NOK 273 million at the end of 2022.

Since the IPO in December 2020, Cyviz has increased capacity in sales, R&D and operations building presence and capacity in key regions in North America, Europe, The Middle East and in Asia.

“We are now starting to see positive effects of these investments in the form of strong revenue growth and positive development in EBITDA. This reflects the scalability of our business model, and bodes well for the continuation,” says Espen Gylvik.