Stockholm, Sweden, January 8, 2021 – Hoylu, a leader in visual collaboration solutions for distributed teams, today announced preliminary numbers for Q4, 2020.

Annual Recurring Revenues (ARR) including long term service contracts were SEK 26.7 at the end of Q4, up 11% from SEK 24.0 million at the end of Q3 and up 78% January 1st 2020.

Total number of users increased by 11,000 in Q4, up 50% from Q3. Revenues in the fourth quarter were SEK 7.0 million.

“Several new enterprise license agreements were signed in the quarter and conversion to paid users will be based upon active usage going forward. We expect these to result in higher growth in the coming quarters. Hoylu´s two largest enterprise accounts increased more than 40% in Q4 to 1,800 and 5,500 users respectively.

The sale of HoyluWalls was insignificant in the quarter, mostly due to continued Covid-19 restrictions so the revenue numbers now fully reflect our transition to a Software as a Service (SaaS) business”, said Stein Revelsby, CEO at Hoylu.

The full report for Q4 will be released as previously announced on February 19, 2021.

For more information, please contact:
Stein Revelsby, CEO at Hoylu +1 213 440 2499 Email: sr@hoylu.com
Karl Wiersholm, CFO at Hoylu +1 425 829 2316 Email: kw@hoylu.com

About Hoylu
Hoylu’s mission is to make remote work and information sharing easy. Hoylu’s Connected Workspaces™ help enterprise clients manage activities, visualize work and motivate people to perform their best by avoiding miscommunication and secure success. For more information: www.hoylu.com

Ticker symbol: Hoylu
Marketplace: Nasdaq First North Growth Market
Certified Adviser: Mangold Fondkommission AB +46 (0) 8 50 301 550, ca@mangold.se

This information is information that Hoylu AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:45 CET on January 8, 2020.

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