Pexip – Financial Results – FY2022-Q4

This From Wall Street note provides financial information and RR’s opinions and insight on Pexip.
[ More information on Pexip ]

Current Highlights

  • Revenue of NOK 260.4M (~ US $26.6M), down 2% year over year (YoY) and up 38% quarter over quarter (QoQ)
  • Annual recurring revenue (ARR) of US $99.6M, down 6% year over year and down 1% quarter over quarter
  • ARR breakdowns
    • By Region: 54% EMEA, 37% Americas, 9% APAC
    • By Product: 54% Self-Hosted Software, 46% Pexip as a Service
  • EBITDA (excluding one-of restructuring cost) of NOK – 7.5M compared to NOK 9.9M one year ago and NOK -56.2M last quarter

FY2022 Highlights

  • Revenue of NOK 867.1M, up 8% from FY2021
  • Non-adjusted EBITDA of NOK -245.3M compared to NOK -124.3M in FY2021
  • Adjusted EBITDA of NOK 184M compared to NOK -124.3M in FY2021


  • Pexip made its debut on the Oslo Stock Exchange on May 14, 2020.
  • MNOK = millions of Norwegian Kroner
  • Unless stated otherwise, NOK to USD conversions are based on currency exchange rate on the last day of the quarter.
  • The calculations within this study are subject to rounding errors and dependent on the precision of the information provided by the vendor.
  • ARR = Annual Recurring Revenue