companyName

extensiveId

feedTypes

includeDividend

includeEstimates

includeOverview

includeOwnership

snapshotDate

CompanyName_Query

companySlug

CompanyMetaData

CompanyContent_query

company

query CompanyName_Query(
  $companyName: String!
  $extensiveId: ID
  $snapshotDate: String
  $feedTypes: [ContentType!]!
  $includeEstimates: Boolean!
  $includeOverview: Boolean!
  $includeOwnership: Boolean!
  $includeDividend: Boolean!
) {
  ...CompanyMetaData_Ux1x9
  ...CompanyContent_query_3mc3wd
}

fragment AnalystData on Analyst {
  name
  pageUrl
  jobTitle
  imgUrl
}

fragment AuthorList on Content {
  __isContent: __typename
  id
  authors {
    __typename
    id
    name
    pageUrl
  }
}

fragment ChangePercentBlock_Company on Company {
  defaultInstrument {
    isin
    symbol
    priceData {
      diff1mPercentage
      diff1yPercentage
      diff3yPercentage
      diffFromStartPercentage
    }
    id
  }
}

fragment CompactFeed_3NXCcw on Query {
  compactFeed: feedContent(companySlug: $companyName, filter: {types: $feedTypes}) {
    edges {
      node {
        __typename
        id
        ...TeaserExtraCompact_content
        createdAt
        companies {
          viewerIsFollowing
          id
        }
      }
      cursor
    }
    pageInfo {
      endCursor
      hasNextPage
    }
  }
}

fragment CompanyAnalystQuery on Company {
  analysts {
    ...AnalystData
    name
    pageUrl
    jobTitle
    imgUrl
    id
  }
}

fragment CompanyContent_query_3mc3wd on Query {
  ...CompanyHeader_query_Ux1x9
  ...CompanyOwnership_query_Ux1x9 @include(if: $includeOwnership)
  ...CompanyFinancials_query_Ux1x9 @include(if: $includeEstimates)
  ...CompanyDividend_query_Ux1x9 @include(if: $includeDividend)
  ...CompanyInvestorConsensus_query_Ux1x9
  ...CompanyPageTop_query_Ux1x9 @include(if: $includeOverview)
  ...CompanyPageBottom_query_2bVJwf @include(if: $includeOverview)
  ...CompanyDisclaimer_query_Ux1x9
  ...Extensive_query_3u4Ry5
}

fragment CompanyCoverage_Company on Company {
  analysts {
    name
    id
  }
  isPayingCustomerOf
  isFormerCustomerOf
  isCorporateCustomer
  ...CompanyAnalystQuery
  defaultInstrument {
    ...TargetAndRecommendation_Company
    id
  }
}

fragment CompanyDescription_Company on Company {
  description
  websiteUrl
  name
}

fragment CompanyDisclaimer_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    name
    isPayingCustomerOf
    isFormerCustomerOf
    id
  }
}

fragment CompanyDividendER_query on Company {
  name
  defaultInstrument {
    estimateData {
      reportingCurrency
    }
    dividendTransactions: estimateTransactions(first: 1, includeQuarters: false) {
      actualized {
        year
        dividend
        dividendYield
        payoutPercentage
        sharePrice
      }
      estimates {
        year
        dividend
        dividendYield
        payoutPercentage
        sharePrice
      }
    }
    id
  }
}

fragment CompanyDividendNonER_query on Company {
  name
  defaultInstrument {
    nonERDividendSet: nonERCompanyNumberSet(includeQuarters: false) {
      year
      dividend
      dividendYield
      epsReported
      sharePrice
      currency
    }
    id
  }
}

fragment CompanyDividend_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    ...CompanyDividendER_query
    ...CompanyDividendNonER_query
    defaultInstrument {
      coreId
      id
    }
    id
  }
}

fragment CompanyFinancials_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    ...NonERCompanyNumbers_query
    ...CompanyNumbers_query
    defaultInstrument {
      coreId
      id
    }
    id
  }
}

fragment CompanyHeader_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    id
    companyInsref
    name
    viewerIsFollowing
    followersCount
    isCorporateCustomer
    hasPinpointData
    hasDividendHistory
    sector {
      sectorname
      industry
    }
    regions
    extensiveExists
    defaultInstrument {
      symbol
      priceData {
        tradeCurrency
        lastPrice
        diff1dPercentage
      }
      marketplace {
        name
      }
      estimates: estimateTransactions(first: 1, includeQuarters: false) {
        date
      }
      nonERCompanyNumberSet(first: 1, includeQuarters: false) {
        year
      }
      id
    }
    topOwners {
      holders {
        name
      }
    }
    transactions: insiderTransactions(filter: {types: [BUY, SELL, SUBSCRIPTION]}) {
      edges {
        node {
          date
          id
        }
      }
    }
  }
}

fragment CompanyInsiderTransactions on Company {
  name
  regions
  insiderTransactions(filter: {types: [BUY, EXERCISE_OF_SHARE_OPTION, PLEDGE, RECEPTION_OF_SHARE_PREMIUM, SELL, SUBSCRIPTION]}) {
    edges {
      node {
        insider
        position
        volume
        price
        date
        unit
        type
        relatedParty
        id
      }
    }
  }
}

fragment CompanyInvestorConsensus_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    name
    companyInsref
    id
  }
}

fragment CompanyMetaData_Ux1x9 on Query {
  company(companySlug: $companyName) {
    name
    description
    pageUrl
    defaultInstrument {
      estimateData {
        modelType
      }
      id
    }
    id
  }
}

fragment CompanyName_Slug on Company {
  slug
}

fragment CompanyNumbers_query on Company {
  name
  defaultInstrument {
    estimateData {
      modelType
      reportingCurrency
    }
    estimateTransactions(first: 1, includeQuarters: true) {
      comparisonIndexName
      actualized {
        year
        quarter
        revenue
        revenueGrowth
        ebitda
        ebitAdjusted
        ebitReported
        preTaxProfit
        netEarnings
        epsReported
        epsAdjusted
        dividend
        payoutPercentage
        roePercent
        roiPercent
        enterpriseValue
        bookValue
        marketCap
        gearingPercent
        equityRatio
        dividendYield
        totalCosts
        loanLosses
        balanceSheetTotal
        tangibleBook
        cet1
        rwa
        sharePrice
        sharesTotal
        nav
        navPerShare
        opexOfNav
        totalShareholderReturn
        comparisonIndexReturn
        netDebtTotalAsset
        quarterlySharePrice
      }
      estimates {
        year
        quarter
        revenue
        revenueGrowth
        ebitda
        ebitAdjusted
        ebitReported
        preTaxProfit
        netEarnings
        epsReported
        epsAdjusted
        dividend
        payoutPercentage
        roePercent
        roiPercent
        enterpriseValue
        bookValue
        marketCap
        gearingPercent
        equityRatio
        dividendYield
        totalCosts
        loanLosses
        balanceSheetTotal
        tangibleBook
        cet1
        rwa
        sharePrice
        sharesTotal
        nav
        navPerShare
        opexOfNav
        totalShareholderReturn
        comparisonIndexReturn
        netDebtTotalAsset
        quarterlySharePrice
      }
    }
    id
  }
}

fragment CompanyOverviewGraphs_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      companyTransactions: estimateTransactions(first: 1, includeQuarters: false) {
        actualized {
          year
          revenue
          ebitAdjusted
          epsAdjusted
          dividendYield
          navPerShare
          totalShareholderReturn
        }
        estimates {
          year
          revenue
          ebitAdjusted
          epsAdjusted
          dividendYield
          navPerShare
          totalShareholderReturn
        }
      }
      id
    }
    id
  }
}

fragment CompanyOwners on Company {
  regions
  topOwners {
    recordDate
    compareDate
    source
    holders {
      name
      capitalPercent
      votingPowerPercent
      positionChange
      totalSharesChange
      shareChange
      isNew
      isRemoved
    }
  }
}

fragment CompanyOwnership_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    name
    ...CompanyOwners
    ...CompanyInsiderTransactions
    id
  }
}

fragment CompanyPageBottom_query_2bVJwf on Query {
  ...GeneralFeed_data_3NXCcw
  ...CompactFeed_3NXCcw
  ...UpcomingEventsQuery_Ux1x9
  ...RiskRecommendMatrix_query_Ux1x9
  ...CompanyOverviewGraphs_query_Ux1x9
  ...NonERCompanyOverviewGraphs_query_Ux1x9
  company(companySlug: $companyName) {
    companyInsref
    ...ForumUpdates_Company
    defaultInstrument {
      coreId
      id
    }
    id
  }
  allFeed: feedContent(first: 1, companySlug: $companyName, filter: {hideUpcomingVideos: true}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
  main: feedContent(first: 1, companySlug: $companyName, filter: {hideUpcomingVideos: true, types: [COMPANY_REPORT, EXTENSIVE_COMPANY_REPORT, ANALYST_COMMENT, VIDEO, ARTICLE]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
  webcasts: feedContent(first: 1, companySlug: $companyName, filter: {hideUpcomingVideos: true, types: [WEBCAST]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
  thirdPartyResearch: feedContent(first: 1, companySlug: $companyName, filter: {types: [THIRD_PARTY_COMPANY_REPORT]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
  releases: feedContent(first: 1, companySlug: $companyName, filter: {types: [STOCK_EXCHANGE_RELEASE, PRESS_RELEASE]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
}

fragment CompanyPageTop_query_Ux1x9 on Query {
  ...StockChart_ChartQuery_Ux1x9
  ...LatestReports_query_Ux1x9
  company(companySlug: $companyName) {
    isFund
    name
    ...CompanyCoverage_Company
    ...CompanyName_Slug
    ...CompanyDescription_Company
    ...FundNumbers_Company
    ...ChangePercentBlock_Company
    ...KeyEstimateFigures_Company
    ...InvestmentCompanyKeyFigures_Company
    defaultInstrument {
      id
      estimateData {
        modelType
      }
    }
    analysts {
      name
      id
    }
    id
  }
  extensiveReport: feedContent(first: 1, companySlug: $companyName, filter: {types: [EXTENSIVE_COMPANY_REPORT]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
  analysis: feedContent(first: 1, companySlug: $companyName, filter: {types: [COMPANY_REPORT, EXTENSIVE_COMPANY_REPORT], tagNames_nin: ["Mallisalkku", "Arvonluojat"]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
  analysisArvonluojat: feedContent(first: 1, companySlug: $companyName, filter: {types: [COMPANY_REPORT, EXTENSIVE_COMPANY_REPORT], tagNames_nin: ["Mallisalkku"]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
}

fragment CompanyTagList on Company {
  pageUrl
  name
  viewerIsFollowing
}

fragment Extensive_query_3u4Ry5 on Query {
  company(companySlug: $companyName) {
    extensive(extensiveId: $extensiveId, snapshotDate: $snapshotDate) {
      publishedAt
      pageUrl
      content {
        id
        title
        lang
        slug
        htmlBody
        publishedAt
        createdAt
        changedAt
        isOutdated
      }
    }
    id
  }
}

fragment ForumUpdates_Company on Company {
  name
  forum {
    threadUrl
    highlightedPosts {
      url
      author
      authorImgUrl
      text
      postedAt
      likesCount
    }
  }
}

fragment FundNumbers_Company on Company {
  defaultInstrument {
    isin
    symbol
    priceData {
      lastPrice
      ath
    }
    id
  }
}

fragment GeneralFeed_data_3NXCcw on Query {
  generalFeed: feedContent(first: 20, companySlug: $companyName, filter: {types: $feedTypes}) {
    edges {
      node {
        __typename
        id
        ...Teaser_content
        ...TeaserCompact_content
      }
      cursor
    }
    pageInfo {
      endCursor
      hasNextPage
    }
  }
}

fragment InvestmentCompanyKeyFigures_Company on Company {
  marketData {
    marketCap
  }
  defaultInstrument {
    priceData {
      tradeCurrency
      dailyTurnover
    }
    estimateData {
      modelType
    }
    estimateTransactions(first: 1, includeQuarters: true) {
      actualized {
        year
        quarter
        sharesTotal
        marketCap
        nav
        navPerShare
        dividendYield
        quarterlySharePrice
      }
      estimates {
        year
        quarter
        dividendYield
      }
    }
    id
  }
}

fragment KeyEstimateFigures_Company on Company {
  marketData {
    marketCap
  }
  defaultInstrument {
    priceData {
      tradeCurrency
      dailyTurnover
      lastPrice
      marketCap
    }
    sector
    fundamentalData {
      ebit
      eps
      sales
      dividend
    }
    estimateData {
      modelType
      estimates {
        firstEstimateYear {
          year
          bookValue
          netSales
          dividendA
          epsAdjusted
          ebitAdjusted
          hybridLoan
          noOfShares
          netDebt
          mvMinorities
          mvAssociated
          roePercent
        }
      }
    }
    estimatesSharePrice: estimateTransactions(first: 1) {
      estimates {
        sharePrice
      }
    }
    id
  }
}

fragment LatestReports_query_Ux1x9 on Query {
  extensiveReport: feedContent(first: 1, companySlug: $companyName, filter: {types: [EXTENSIVE_COMPANY_REPORT]}) {
    edges {
      node {
        __typename
        createdAt
        pageUrl
        id
      }
    }
  }
  analysis: feedContent(first: 1, companySlug: $companyName, filter: {types: [COMPANY_REPORT, EXTENSIVE_COMPANY_REPORT], tagNames_nin: ["Mallisalkku", "Arvonluojat"]}) {
    edges {
      node {
        __typename
        createdAt
        pageUrl
        id
      }
    }
  }
  analysisArvonluojat: feedContent(first: 1, companySlug: $companyName, filter: {types: [COMPANY_REPORT, EXTENSIVE_COMPANY_REPORT], tagNames_nin: ["Mallisalkku"]}) {
    edges {
      node {
        __typename
        createdAt
        pageUrl
        id
      }
    }
  }
}

fragment NonERCompanyNumbers_query on Company {
  name
  defaultInstrument {
    nonERNumberSet: nonERCompanyNumberSet(includeQuarters: true) {
      year
      quarter
      revenue
      ebitda
      ebitReported
      epsReported
      dividend
      sharesTotal
      roe
      roi
      enterpriseValue
      marketCap
      gearingRatio
      equityRatio
      dividendYield
      sharePrice
      currency
      evSales
      evEbitda
      evEbit
      pb
      netIncome
      ptp
    }
    id
  }
}

fragment NonERCompanyOverviewGraphs_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    defaultInstrument {
      overviewGraphsData: nonERCompanyNumberSet(includeQuarters: false) {
        year
        revenue
        ebitReported
        epsReported
        dividend
        dividendYield
        currency
      }
      id
    }
    id
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment RiskRecommendMatrix_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    defaultInstrument {
      riskData: estimateTransactions(first: 1) {
        businessRisk
        valuationRisk
      }
      id
    }
    id
  }
}

fragment StockChart_ChartQuery_Ux1x9 on Query {
  company(companySlug: $companyName) {
    isFund
    defaultInstrument {
      coreId
      id
      marketOpen
      marketClose
      marketplace {
        region
      }
      priceData {
        lastPrice
      }
      returns {
        day
        week
        month
        threeMonths
        sixMonths
        year
        threeYears
        fiveYears
        tenYears
        ytd
        total
      }
    }
    id
  }
}

fragment TargetAndRecommendation_Company on Instrument {
  estimateData {
    modelType
    researchCurrency
    estimates {
      date
      recommendation
      targetPrice
    }
  }
}

fragment TeaserCompact_content on Content {
  __isContent: __typename
  __typename
  id
  type
  title
  createdAt
  isPremium
  pageUrl
  lang
  companies {
    ...CompanyTagList
    id
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
  ...AuthorList
}

fragment TeaserExtraCompact_content on Content {
  __isContent: __typename
  id
  title
  createdAt
  pageUrl
  lang
  companies {
    name
    pageUrl
    viewerIsFollowing
    id
  }
}

fragment Teaser_content on Content {
  __isContent: __typename
  __typename
  id
  type
  title
  createdAt
  pageUrl
  imgUrl
  isPremium
  lang
  companies {
    ...CompanyTagList
    id
  }
  publishers {
    imgUrl
  }
  authors {
    __typename
    id
  }
  ... on AnalystComment {
    preview
  }
  ... on Article {
    preview
  }
  ... on CompanyReport {
    preview
  }
  ... on ThirdPartyCompanyReport {
    preview
  }
  ... on QA {
    preview
  }
  ... on Video {
    preview
    liveTime
    videoDuration
  }
  ... on Webcast {
    preview
    liveTime
  }
  ...AuthorList
  ...Reactions
}

fragment UpcomingEventsQuery_Ux1x9 on Query {
  company(companySlug: $companyName) {
    defaultInstrument {
      calendarEvents(first: 10) {
        edges {
          node {
            date
            type
            period
            id
          }
        }
      }
      id
    }
    id
  }
}


name

description

pageUrl

defaultInstrument

companyInsref

viewerIsFollowing

followersCount

isCorporateCustomer

hasPinpointData

hasDividendHistory

sector

regions

extensiveExists

topOwners

insiderTransactions

isPayingCustomerOf

isFormerCustomerOf

extensive

feedContent

Pexip Holding

PEXIP: Mandatory notification of trade by Primary Insiders

Mandatory notification of trade by Primary Insiders - Pexip Holding ASA

PEXIP: Grant of Share Options to primary insiders

PEXIP: Mandatory notification of trade by Primary Insider

PEXIP: Exercise of RSUs and Share Options including primary insiders

PEXIP: Correction of tax and EPS figures in Q4 2025 quarterly report

Pexip Q4 2025 report - Delivered Rule of 40 performance in 2025

PEXIP: Information relating to the proposed dividend for 2025

PEXIP: Dial-in details to Pexip's Q4 2025 results on February 12

PEXIP: Financial calendar

PEXIP: Pexip increases Q4 2025 ARR outlook

Pexip Q3 2025 report - Continued strong traction

PEXIP: Dial-in details to Pexip's Q2 2025 results on November 6

PEXIP: Mandatory notification of trade

Oslo Børs

Pexip Holding operates in the technology industry. The company specializes in the development of digital platforms for video communication. The software is self-developed and is mainly used for internal monitoring and communication. The customers consist of corporate customers operating in several sectors around the global market. In addition to the main business, various value-added services and technical support are also offered. The largest operations are found in the European market.

Q2-osari julkistettu. Otsikon voimakas SaaS-kasvu näyttää karkaavan yhä kauemmas horisonttiin. Q1 vs Q2 ei tuonut kasvua ja vuoden takaiseen kasvua oli vain 10%. Alustavan arvion mukaan Q2 vs. Q3 ei myöskään tuo kasvua.            pexip.com              Pexip%20Q2%202022%20Quarterly%20Report.pdf    773.15 KB                             Tämä arvaus osui. Vuodessa työntekijämäärä on vähentynyt 100 kappaleella. Jos reilu vuosi sitten taikasana oli rohkea kasvuhakuisuus, korostetaan nyt kuinka nopeasti kassan poltto saadaan kuriin. Tällä hetkellä vuodesta 2023 odotetaan jopa kassapositiivista vuotta.  Tämä meni väärin. Kirjoitushetkeen verrattuna osakkeen hinta lähes puoliintui ja lähestyy jo yksinumeroisuutta. Markkina-arvosta lähes puolet on käteistä. Tästä huolimatta houkutus ostaa osaketta ei ole iso. Ei kasvua tai liikevaihdon menetys ja potentiaaliset lisäsäästöt (joista lisäkuluja) kuulostavat korviini putoavan puukon ääneltä. Ehkä joku isompi toimija nappaa firman syliinsä, mutta silloin mennään jo lottoamisen puolelle.

cdn.prod.nntech.io              38e21d2f44406e8fc8e76ab4aa5070d8.pdf    170.38 KB                            Q4 Summary Pexip’s subscription base measured in Annual Recurring Revenue (ARR) amounted to USD 102.8 million in Q4 2023, representing a year-on-year increase of 3% from USD 99.6 million in Q4 2022. Pexip grew its overall ARR base with USD 3.0 million from Q3 2023. Connected spaces ARR amounted to USD 63.1 million at the end of Q4 2023, up 3% from Q4 2022. The net revenue retention rate, reflecting the percentage of retained revenue from existing customers, was 98% in Q4 2023 excluding legacy areas. Secure and Custom ARR amounted to USD 36.3 million at the end of Q4 2023, up 13% from Q4 2022. The net revenue retention rate was 99% in Q4 2023 due to lower upsell compared to previous quarters. ARR from Pexip as-a-Service was at USD 48.8 million in Q4 2023, up 5% year-on-year, while ARR from Pexip’s Self-hosted Software ended at USD 53.9 million, up 1% year-on-year. Pexip has delivered on the financial targets for 2023. The Company delivered 3% growth in ARR against the target of flat to positive development in ARR. On EBITDA the Company delivered NOK 113 million adjusted for other gains and losses against a target of NOK 100-150 million. Lastly, the company delivered NOK 105 million in free cash flow against an updated target of NOK 85-100 million (original target of NOK 40-60 million). Our secure solutions are increasingly relevant and awareness around sovereignty and privacy for Government data is increasing, with more countries issuing specific recommendations and regulations. Within interoperability and infrastructure solutions, we continue to capture new accounts, and saw quarter-on-quarter growth in this segment in Q4. The development in the strategic partnerships with both Microsoft and Poly continues to show that Pexip’s focused approach to our key markets makes us an attractive partner in our industry. Pexip announced a new cash distribution policy in November 2023. In line with this policy, the Board of Directors will recommend to the Annual General Meeting a dividend of NOK 1.1 per share, consisting of an ordinary dividend of 0.6 NOK per share and an extraordinary dividend of NOK 0.5 per share.

Eipä ne uudet myyntitykit nyt ole vielä oikein loistaneet… Hyvää sentään se, ettei net retention enää näytä laskevan. Kiire kyllä tulee 300MUSDiin, pitäisi kuitenkin saada heti +50% absoluuttiseen USD-määräiseen kasvuun ja sitten myöhemmin vielä enemmänkin.  Luotto siihen tosiaan aika vähissä markkinalla, EV/ARR tai sales ei enää päätä kyllä huimaa. Voisi kyllä ajatella, että Pexip on se pieni toimija joka jonkun toisen kasvulukuja päätyy vielä kaunistamaan…     PEXIP Q1/2020 Q2/2020 Q3/2020 Q4/2020 Q1/2021 Q2/2021 Q3/2021 Q4/2021     ARR 57 65,8 72,8 81,9 87,2 92,7 99,8 106   ARR lisäys  8,8 7 9,1 5,3 5,5 7,1 6,2   New Sales 13,9 18,5 23,5 28 28,3 26,5 26,5 23,6   Net Upsell 8,2 10,4 10,5 11,4 7,5 7,3 7,3 8,9   Churn 3,1 3,3 4,2 4,9 5,3 6,8 10,2 7,9   Net Retention 113 % 118 % 115 % 114 % 104 % 101 % 100 % 101   Churn Q/Q  6 % 27 % 17 % 8 % 28 % 50 % -23 %   Churn Y/Y     71 % 106 % 143 % 61 %

https://websolutions.ne.cision.com/releaseDetail.html?releaseIdentifier=CDAFF6D60093F7AC  Pexip’s subscription base measured in ARR reached USD 105.6 million in Q1 2022, up from USD 87.2 million in Q1 2021, representing a year-on-year increase of 21% or USD 18.4 million. Growth from new customers accounts for USD 23 million over the last twelve months, representing 26% growth. Net revenue retention rate, reflecting the percent of retained revenue from existing customers, was 95% year-on-year, including churn of 9.2% year-on-year. The reduction in net revenue retention rate was driven by a decline in net upsell, which was at USD 3.4 million in Q1 2022. A change in pricing model with a strategic partner led to a USD 2.0 million reduction in Q1 ARR. Pexip expects this change to drive a positive effect during the rest of 2022 of more than USD 4 million. Adjusted for the partner pricing model change the underlying new ARR from normal business was USD 1.2 million in Q1 2022. Including this change, the quarterly change in ARR was negative USD 0.8 million in Q1 2022. ARR from Pexip’s Self hosted Software reached USD 59.4 million in Q1 2022, up 15% year-on-year, while ARR from Pexip as-a-Service reached USD 46.2 million, up 30% year-on-year. Continued growth in Video enablement and Critical video meetings, which grew 37% and 106% year-on-year respectively. These two areas increased their ARR by USD 2.3 million in Q1 2022. Pexip will adapt its growth strategy to reduced visibility on quarterly timing of ARR growth, and target being EBITDA profitable in Q4 2022 and for the whole year of 2023.

Pareto odotti uutta myyntiä 5,5MUSD, eli 23% kasvua vuoden takaiseen (viime viikon tiedotteista). Nyt saatiin 6,6MUSD / 30%:n lisäys, eli reilu ylitys. Oliko muista analyytikko-ennakoista tietoa?

Olipa apaattinen aloitus tälle vuodelle! Kasvustrategian “uudelleenarviointi”, eli toisin sanottuna kannattava kasvu roiman etunojaisen kasvurynnäkön sijaan ei ole yllätys. Vaikka Q2:sta eteenpäin luvataan edelleen kasvua, on selvää, ettei vielä joulukuussa toistettuun tavoitteeseen (liikevaihto 300 MUSD vuoteen 2024 mennessä) ole pääsyä. Pareton kommentissa mainittiin yhdeksi syyksi heikkoon menestykseen Ciscon terhakoituminen. Se voisi selittää Amerikan kasvun muuttumista miinusmerkkiseksi. Joka tapauksessa huolestuttavaa, kun joutuu törmäyskurssille noin ison pelurin ja sen kassan (lue: polkuhinnoittelun) kanssa. Tavoitehintojen päivitykset, melkoista hajontaa:  Arctic, 65 → 60 NOK (osta)  Pareto, 70 → 26 NOK (pidä) Avanzan sivuilta käännettynä Pareton kommentti, joka kuvaa hyvin Pexipin dilemmaa - kun ei kasva ja kassa vuotaa, kasvuosakkeen tarinan kääntyminen huonon arvo-osakkeen tarinaksi tekee tavoitehinnalle kipeää.  Pareto remains positive to Pexip in the long term but thinks that the low multiple of 2 times EV / ARR is reasonably given the combination of low growth and negative cash flows. Pexip is also described as being an interesting buying candidate in a market that has high acquisition activity.

Joo, nyt loppui kasvukin viime kvartaalilla ja alkoi puhe kasvustrategian päivityksestä ja kannattavuudesta.  Lohtupuolelle tulee kyllä mieleen se Peter Lynchin video, että eipä firma ilman velkaa ihan hevillä konkkaan mene…

Holmen Spesialfond

T.D. Veen