HOYLU AB: HOYLU ANNOUNCES PRELIMINARY NUMBERS FOR Q1, 2020 - Hoylu

HOYLU AB: HOYLU ANNOUNCES PRELIMINARY NUMBERS FOR Q1, 2020

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Stockholm, Sweden, April 3, 2020 – Hoylu, a leader in Interactive Visual Collaboration solutions today announced preliminary numbers for Q1, 2020.

Revenues in the first quarter were SEK 8.2 million up 26% from SEK 6.5 million in Q1, 2019. Billings in the quarter were SEK 9.0 million. Operating expenses in the quarter were SEK 10.5 million and EBITDA (preliminary) for Q1 were SEK -4.9 million. Annual Recurring Revenues (ARR) including long term service contracts were SEK 20.7 million at the end of Q1, up from SEK 15.0 million in Q4.

“The ongoing crisis and lockdowns we now see across the globe makes it difficult to forecast as the situation for the worlds workforce changes from day to day in different countries and regions. However, the need to have better tools for connecting and engaging people and their work has become apparent and amplifies the opportunity for Hoylu to help businesses and dispersed teams in these challenging times. We have therefore been working day and night to make our new product best possible, testing it with customers and ready for launch sooner than originally planned. We are confident that our products can be a part of the solution to keep businesses running and armed for the future”, said Stein Revelsby, CEO at Hoylu.

To avoid speculation about Q1 performance Hoylu today decided to release preliminary numbers for Q1.

The full report for Q1 will be released as previously announced on May 15.

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 is a company with one goal: Take collaboration and information sharing into the future. Through our customizable Connected WorkspacesTM we deliver software solutions for companies, organizations and individuals across virtually all industries that enable all teams, big and small to work efficiently and securely in a fun and easy workflow. 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

Publication
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 16:00 CEST on April 3, 2020.