Q1 - Q3 2020 Jan 20 - Sep 20

Q3: Jul – Sep 2020

  • EBITDA for the quarter amounted to 4.9MSEK (2.3), a 112% increase from the corresponding period in 2019 and 174% increase from Q2
  • Profit after tax for the period was 2.1 MSEK (-1.0), a significant turnaround from the corresponding period in 2019
  • Gross Profit amounted to 22.5 MSEK (27.3) a decrease of 17.5% from the corresponding period in 2019 but an increase of 23% from the previous quarter (18.3)
  • Total Revenue for the quarter amounted to 34.0 MSEK (57.8), a decrease of 41% from the corresponding period in 2019 but an increase of 23% from Q2 (27.8)
  • The gross revenue decrease is due to a strategic shift from low margin paid media and a renewed focus on high-margin SEO services
  • Gross margin improved to 66% (47%) – a significant improvement, reflecting the new strategy
  • Operating costs amounted to 17.7 MSEK (25.0) a reduction of 29% compared with the same period last year

YTD: Jan – Sep 2020

  • A positive EBITDA result of 7.1 MSEK (6.9)
  • Profit after tax for the YTD was -2.3 MSEK (-5.2)
  • Total Revenue amounted to 95.6 MSEK (134.6) a decrease of 29% from the corresponding period in 2019
  • Gross Profit amounted to 64.5 MSEK (80.6) a decrease of 20% from the corresponding period in 2019
  • Gross margin increased to 67% (60%) demonstrating the success achieved to date in growing higher margin services
  • Operating costs amounted to 57.4 MSEK (73.7), a reduction of 22% from the corresponding period in 2019
See full Q1 - Q3 2020 Results