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Infront 30% increase in Q3 2017 revenues

Friday, 10 November, 2017 by Diana Myrstad
Infront 30% increase in Q3 2017 revenues
Infront ASA (INFRNT) today announced its interim results for Q3 2017. Group operating revenue for the quarter was NOK 67.4 million (NOK 52.0 million). The growth of 30% from the same period of last year was driven by increased sales and prices across the group, the inclusion of external revenues from the acquisition of Inquiry Financial Europe AB, as well as continued impact from the SIX-transaction. EBITDA adjusted for IPO-related costs of NOK 6.6 million, was NOK 14.1 million in Q3 2017, an increase of 60% compared to the same quarter last year (NOK 8.8 million)


Highlights

  • Best-ever quarter for Infront
  • Q3 2017 revenue increased 30% to NOK 67.4 million from NOK 52.0 million in Q3 2016
  • Positive contribution from acquisitions of Inquiry Financial Europe AB, SIX News and migration of SIX Edge customers
  • Adjusted EBITDA increased 60% to NOK 14.1 million from NOK 8.8 million in Q3 2016 driven by higher revenues across all segments
  • Number of paying terminal subscribers increased 14% year-over-year
  • Successfully completed oversubscribed IPO on Oslo Børs
  • Opened Helsinki office to serve existing and potential Finnish customer base

“We had a strong third quarter with a 30% increase in revenue compared to the same period last year. Our successful listing on Oslo Børs was an important milestone and we look forward to delivering on our growth strategy as a listed company. We also released a major upgrade to our financial terminal. The new Infront 8 will deliver value to our customers through innovative and user-friendly solutions, which combined with our geographical expansion will drive growth going forward,” said Kristian Nesbak, CEO and Founder of Infront.

Infront generates the vast majority of its revenue based on recurring subscription contracts for the products. To date in 2017, Infront has continued to show a steady growth of recurring revenue, which represented 99% of total sales in the period.

The interim report and presentation are available on the investor relations pages.

 
For further information, please contact:

Kristian Nesbak, CEO of Infront, +47 940 05 000
Max Hofer, CFO of Infront, +47 971 48 953

Results presentation:

Infront will hold a live webcast presentation of the Q3 2017 results at 11.00 CET today, hosted by CEO Kristian Nesbak and CFO Max Hofer. The presentation will be held in English.

It will be possible to ask questions via e-mail during the presentation. Send your questions to ir@infrontfinance.com. A recording of the presentation will be available on the website

shortly after the live webcast has ended.

 

About Infront:

Infront provides a unique combination of global market data, news, analytics and trading tools. With proven solutions developed over 20 years by industry experts, the Infront terminal has become the most intuitive and flexible financial terminal available, helping institutions to reduce costs, adapt to fast changing market requirements and to be able to work more effectively with the increasing amount of information available. More than 20,000 subscribers worldwide rely upon Infront’s services.

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