Cyviz AS - Q3 2022: Cyviz reports 82 percent revenue growth and strong cash flow

11 Nov 2022 07:00 CET

11.11.2022 07:00:00 CET | Cyviz | Half yearly financial reports and audit
reports / limited reviews

Cyviz AS today publishes its financial results for the third quarter of 2022,
with revenue growth of 82 percent to NOK 116 million and a positive EBITDA of
NOK 5 million. Order intake grew with 127 percent to record-high NOK 208
million.

"We are happy to report a quarter with continued strong growth in revenue, order
intake and profitability. During the quarter we have seen evidence that our
focus across regions and verticals pays off. The demand for technology for
collaboration spaces continues to grow strongly, and Cyviz is established as a
leading player," says CEO Espen Gylvik at Cyviz.

Cyviz' strong top-line growth is combined with increased gross margin and tight
cost control.

"For the second quarter in a row, we delivered a positive EBITDA, in accordance
with our guidance, and we expect to continue with positive results going
forward. I am also happy to report that we have turned to a strong positive cash
flow from operations during the quarter, as a result of significantly reduced
working capital," says Espen Gylvik.

Year to date, Cyviz has experienced accelerating demand for control room,
innovation center and advanced meeting room solutions particularly in corporate
and government sector. Growth has been particularly strong within defense and
security.

"The solid growth in order intake and backlog, together with increased demand
for our solutions, are strong indicators that the growth will continue entering
2023. We are focusing on increasing the share of recurring revenue, and we have
high expectations for the new partnerships we have established for sale of
software solutions for collaboration and meeting rooms," says Espen Gylvik.

Cyviz reiterates its ambition of positive EBITDA in 2022 and its medium-term
growth target of 30 percent revenue growth and 15-20% EBITDA.

Cyviz AS is presenting its Q3 2022 report and presentation today, Friday
November 11, at 09:00 (CET) and hereby invites investors, analysts, and other
stakeholders to a live webcast. Presenters will be CEO Espen Gylvik and CFO
Marius Skagen. Viewers are encouraged to submit questions during the
presentation through the webcast player.

LINK TO WEBCAST:

HTTPS://CHANNEL.ROYALCAST.COM/LANDINGPAGE/HEGNARMEDIA/20221111_4/



THE REPORT, PRESENTATION AND LINK TO THE RECORDED WEBCAST IS AVAILABLE AT:

HTTPS://WWW.CYVIZ.COM/INVESTOR-RELATIONS/

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.

CONTACTS

* Espen Gylvik, CEO, Cyviz AS, +4791330644, espen.gylvik@cyviz.com
* Marius Skagen, CFO & Investor Relations, Cyviz AS, +47 986 44 846,
marius.skagen@cyviz.com

ABOUT CYVIZ

Cyviz is a global technology provider for comprehensive conference and control
rooms as well as command and experience centers. Since 1998, Cyviz has
simplified the way the digital workforce connects, visualize, and collaborate
across technologies and critical data. The IT-driven solutions are easy to
deploy, manage and support. Today, Cyviz serves global enterprises and
governments with the highest requirements for usability, security, and quality.
The cross-platform experience Cyviz delivers to manage and control systems and
resources across the enterprise makes Cyviz the preferred choice for customers
with complex needs.

Find out more on www.cyviz.com - http://www.cyviz.com/ or visit one of our Cyviz
Experience Centers in Atlanta, Dubai, Jakarta, Houston, London, Oslo, Riyadh,
Singapore, Stavanger, or Washington DC.

Cyviz is listed on Euronext Growth at the Oslo Stock Exchange (ticker: CYVIZ)

ATTACHMENTS

Cyviz Q3 2022 presentation.pdf -
https://kommunikasjon.ntb.no/ir-files/17847582/1882/2543/Cyviz%20Q3%202022%20pre
sentation.pdf

Cyviz Q3 report 2022.pdf -
https://kommunikasjon.ntb.no/ir-files/17847582/1882/2544/Cyviz%20Q3%20report%202
022.pdf

More information:
Access the news on Oslo Bors NewsWeb site

575463_en_Cyviz Q3 2022 presentation.pdf
575463_en_Cyviz Q3 report 2022.pdf