Pexip Accelerates Long-Term Annual Recurring Revenue Target – Delivers ARR Growth of 70%

The video communications provider, Pexip, today presented its quarterly results for the third quarter of 2020.

  • Pexip’s subscription base measured in Annual Recurring Revenue (ARR) reached USD 72.8 million in Q3 2020, up from USD 42.8 million in Q3 2019, representing an increase of 70%
  • The Company accelerates its long-term target of USD 300 million in ARR from 2025 to 2024 due to strong performance in 2020 and solid outlook. This is one year earlier than its previous target
  • Revenue of NOK 136.3 million in Q3 2020, up 68% from Q3 2019. Cloud Service revenue up 133% year-on-year to NOK 60 million
  • Gross margin of 92% of revenue, with Cost of Sales of NOK 11.0 million
  • EBITDA of NOK -24 million driven by investments in Sales, Marketing and R&D and is in line with acceleration plan […]