HOYLU AB PUBLISHES THE INTERIM REPORT FOR JANUARY – DECEMBER 2019

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HOYLU AB PUBLISHES THE INTERIM REPORT FOR JANUARY – DECEMBER 2019

Stockholm, Sweden, February 24, 2020

The complete version of the Interim Report for January – December 2019 is attached in this press release and is available on Hoylu’s web site (https://www.hoylu.com/investor-relations/financial-reports/).

“An important milestone for Hoylu in Q4 was the signing of the first larger Software as a Service (SaaS) contract with a major global enterprise. Since Hoylu was established in 2017 revenues primarily came from the sale of HoyluWalls bundled with software. Hoylu`s hardware base of approximately 1,000 HoyluWall installations world-wide is an important footprint as we engage with existing and new customers to expand our business. Going forward, HoyluWall hardware sales will primarily go through partners and resellers whilst Hoylu`s focus will be on growing subscription-based software revenues.” says Hoylu Chief Executive Officer, Stein Revelsby.

FOURTH QUARTER 2019
Hoylu has implemented the SaaS model:
– Billings for the fourth quarter were MSEK 11.4
– Revenues for the fourth quarter were MSEK 8.2 (13.1)
– Annual Recurring Revenue (“ARR”) and long-term service contracts for 2020 at the end of the fourth quarter was MSEK 15

– Gross margin was 69 percent (67)
– Operating result was MSEK -10.2 (-5.7)
– Profit after tax amounted to MSEK -17.9 (-6.2) (i)
– Earnings per share amounted to SEK -0.71 (-0.42)

TWELVE MONTHS 2019
– Revenues for the twelve months were MSEK 27.1 (33.4)
– Gross margin was 69 percent (69)
– Operating result amounted to MSEK -35.1 (-26.6) (ii)
– Profit after tax amounted to MSEK -36.4 (-28.4) (i) and (ii)
– Earnings per share amounted to SEK -2.28 (-1.93)

(i) Including the administrative assessment of MSEK 2.1 as reported in previous report

(ii) Including MSEK 7.0 write-off of strategic investment in virtual reality (“VR”) entity due to nominal impact of VR on collaboration solutions.

The interim report for Hoylu has been prepared in accordance with the Annual Accounts Act and the Swedish Accounting Standards Board on annual report, and consolidated financial statements BFNAR 2012: 1 (K3) as well as the Swedish Securities Market Act.

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

Hoylu AB
Hoylu delivers innovative enterprise solutions to allow global teams to collaboratively plan, create and share information that enrichen the user experience in the virtual office. Hoylu delivers a comprehensive set of personalized Connected Workspaces™ to enable teams across locations, on any device, to work smarter and with more fun across major industries including Engineering, Education, Pharmaceutical, Construction, Manufacturing, Graphic Design and many more. 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 15:00 CET on February 24, 2020.

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