Pexip Q3 2021 – Solid growth driven by sales to public sector organizations

The video communications provider, Pexip, today presented its quarterly results for the third quarter of 2021.

Pexip’s subscription base measured in Annual Recurring Revenue (ARR) reached USD 99.8 million in Q3 2021, up from USD 72.8 million in Q3 2020, representing an increase of 37%. Pexip demonstrated solid year-on-year growth due to strong sales to public sector organizations. Key highlights for the quarter include:

  • ARR reached USD 99.8 million, reflecting a 37% growth year-on-year
  • Revenues at NOK 183 million, 35% growth year-on-year
  • EBITDA at negative NOK 40 million, developing as expected, and in line with investment plan and strategy
  • Named a “Challenger” in the Gartner Magic Quadrant for Meeting SolutionsKey contracts from Q3 include:
    • The Defense Information System Agency (DISA), a US Department of Defense (DoD) combat support agency, composed of military, federal civilians, and contractors. DISA provides information technology (IT) and communications support to the US President, Vice President, Secretary of Defense, the military services, combatant commands, and any individual or system contributing to the defense of the US. DISA chose Pexip to power their main videoconferencing service, as well as support interoperability with Microsoft Teams;
    • The US Department of Labor, which selected Pexip-as-a-service as the collaboration solution for its new Hybrid Workplace initiative for its almost 18,000 employees;
    • A Leading Central-European Car Manufacturer chose Pexip Self-hosted software for Pexip meetings, Microsoft Teams interoperability and One Touch Join functionality. Pexip will provide an integrated platform for the company’s multiple locations and various videoconferencing solutions around the world;
    • An EU Institution signed a contract for Pexip’s Self-hosted software, including Cloud Video Interoperability (CVI) for Microsoft Teams interoperability.