* Q1 2018 revenue increased 21% to NOK 68.9 million from NOK 56.8 million in Q1 2017 - Continued positive contribution from the acquisitions of Inquiry Financial Europe AB, SIX News and the completed migration of SIX Edge customers -Revenue and user growth experienced in all regions
* EBITDA increased 93% to NOK 14.5 million from adjusted EBITDA of NOK 7.5 million in Q1 2017 -Driven by higher revenues across all segments, improved gross margins and stable operating expenses
* 23% increase in number of paying users year-over-year
Oslo, 15 May 2018: Infront ASA (INFRNT) today announced its interim results for Q1 2018. Group operating revenue for the quarter was NOK 68.9 million (NOK 56.8 million). The growth of 21% from the same period of last year was driven by increased sales and prices across the group, the inclusion of external revenues from the acquisition of Inquiry Financial Europe AB, as well as continued impact from the SIX-transaction. EBITDA was NOK 14.5 million in Q1 2018, an increase of 93% compared to NOK 7.5 the same period last year after adjusting for IPO related costs.
“We have had a good start to 2018 with continued organic growth reflected in the increasing base of terminals and solutions subscribers. We successfully updated and prepared our systems for the introduction of EU’s new financial markets regulations. Furthermore, we experience continued interest in our new retail web technology from leading financial institutions across the Nordics. We see growth opportunities across all regions and products for the rest of 2018.”, said Kristian Nesbak, CEO and Founder of Infront.
Infront generates the vast majority of its revenue from recurring subscription contracts. In Q1 2018, Infront continued to show a steady growth in recurring revenue, which represented 99% of total sales in the period.
Please find the full financial report and presentation enclosed.
For further information please contact:
Kristian Nesbak, CEO of Infront, +47 940 04 000
Max Hofer, CFO of Infront, +47 971 48 953
The interim report and presentation are also available on the investor relations pages at www.infrontfinance.com/investor-relations