Cyviz AS today publishes its financial results for the third quarter of 2022, with revenue growth of 82 percent to NOK 116 million and a positive EBITDA of NOK 5 million. Order intake grew with 127 percent to record-high NOK 208 million.
“We are happy to report a quarter with continued strong growth in revenue, order intake and profitability. During the quarter we have seen evidence that our focus across regions and verticals pays off. The demand for technology for collaboration spaces continues to grow strongly, and Cyviz is established as a leading player,” says CEO Espen Gylvik at Cyviz.
Cyviz’ strong top-line growth is combined with increased gross margin and tight cost control.
“For the second quarter in a row, we delivered a positive EBITDA, in accordance with our guidance, and we expect to continue with positive results going forward. I am also happy to report that we have turned to a strong positive cash flow from operations during the quarter, as a result of significantly reduced working capital,” says Espen Gylvik.
Year to date, Cyviz has experienced accelerating demand for control room, innovation center and advanced meeting room solutions particularly in corporate and government sector. Growth has been particularly strong within defense and security.
“The solid growth in order intake and backlog, together with increased demand for our solutions, are strong indicators that the growth will continue entering 2023. We are focusing on increasing the share of recurring revenue, and we have high expectations for the new partnerships we have established for sale of software solutions for collaboration and meeting rooms,” says Espen Gylvik.
Cyviz reiterates its ambition of positive EBITDA in 2022 and its medium-term growth target of 30 percent revenue growth and 15-20% EBITDA.
Cyviz AS is presenting its Q3 2022 report and presentation today, Friday November 11, at 09:00 (CET) and hereby invites investors, analysts, and other stakeholders to a live webcast. Presenters will be CEO Espen Gylvik and CFO Marius Skagen. Viewers are encouraged to submit questions during the presentation through the webcast player.
Link to webcast:
https://channel.royalcast.com/landingpage/hegnarmedia/20221111_4/
The report, presentation and link to the recorded webcast is available at:
https://www.cyviz.com/investor-relations/
Disclosure regulation
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
Contacts
- Espen Gylvik, CEO, Cyviz AS, +4791330644, espen.gylvik@cyviz.com
- Marius Skagen, CFO & Investor Relations, Cyviz AS, +47 986 44 846, marius.skagen@cyviz.com
About Cyviz
Cyviz is a global technology provider for comprehensive conference and control rooms as well as command and experience centers. Since 1998, Cyviz has simplified the way the digital workforce connects, visualize, and collaborate across technologies and critical data. The IT-driven solutions are easy to deploy, manage and support. Today, Cyviz serves global enterprises and governments with the highest requirements for usability, security, and quality. The cross-platform experience Cyviz delivers to manage and control systems and resources across the enterprise makes Cyviz the preferred choice for customers with complex needs.
Find out more on www.cyviz.com or visit one of our Cyviz Experience Centers in Atlanta, Dubai, Jakarta, Houston, London, Oslo, Riyadh, Singapore, Stavanger, or Washington DC.
Cyviz is listed on Euronext Growth at the Oslo Stock Exchange (ticker: CYVIZ)
