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Oneflow interim report Q3 2022: Focus on European expansion

Oneflow publishes its interim report for the third quarter of 2022.

July - September 2022 (compared to the same period last year)

Net sales increased 53% to MSEK 17.8 (11.6). Share of Net sales outside Sweden increased to 25% (21) with paying users in 29 countries.
EBIT was MSEK -17.0 (-6.7), with an EBIT margin of -95.6% (-57.6).
Basic earnings per share amounted to SEK -0.68 (-0.39) and diluted to SEK -0.68 (-0.39).
Total ARR increased 61% to MSEK 80.5 (50.1). Net New ARR for the third quarter increased 15% to MSEK 5.8 (5.0).
Opened offices in the Netherlands and France during September.
January - September 2022 (compared to the same period last year)

Net sales increased 59% to MSEK 48.8 (30.8). Share of Net sales outside Sweden increased to 24% (18) with paying users in 29 countries.
EBIT was MSEK -41.3 (-21.4), with an EBIT margin of -84.7% (-69.4).
Basic earnings per share amounted to SEK –1.91 (-1.19) and diluted to SEK -1.91 (-1.19).
Total ARR increased 61% to MSEK 80.5 (50.1). Net New ARR for the first nine months increased 35% to MSEK 23.4 (17.3).
Opened offices in the UK in May and in the Netherlands and France during September.
On 8 April 2022 Oneflow successfully got listed on First North, and raised a total of MSEK 290 including the over-allotment.
Anders Hamnes, CEO and Founder of Oneflow, comments:

“Our ARR increased with MSEK 5.8, ending at a total of MSEK 80.5 this quarter, representing a year-over-year growth of 61%. Although it came in slightly below our internal goals in terms of new sales, it was still a very good quarter.

From an operational point of view, the third quarter has been characterized by our European expansion. In May this year we opened an office in the UK, and during the first week of September we opened offices in France and the Netherlands. In new markets where our brand is unknown, and our teams are new, it will take time before Oneflow is fully established. The development is in line with our plans, and we are very satisfied with our performance so far. We have done some great hires, and are very excited about the next year.”
www.oneflow.com

 

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