ABAX CONTINUES TO GROW IN Q1

31 May 2023 07:30 CEST

31.5.2023, Larvik, Norway | ABAX Group announces its Q1 2023 results. The Q1
report is available on the company website at: https://www.abax.com

Q1 HIGHLIGHTS

- Pro-Forma Revenue of 192,8 (181,1) MNOK, 6% growth year-over-year 

- Adjusted EBITDA of 77,7 (74,1) MNOK, 5% growth year-over-year 

- Annualized Repeatable Revenue (ARR) reached 746 MNOK, up 4% year-over-year  

- Our first quarter with full launch of our data-centric intelligence insurance
offer in Norway – growing our leads
funnel 

- ABAX core business showed resilience and ability to transform 

- Adjusted Operating Free Cash Flow of 55,9 MNOK (34,3), 63% growth
year-over-year and highlights the result of
rightsizing the company, maintaining topline growth and keeping a strong cash
management focus 



For more information please contact:

Morten Strand, CEO, ABAX
Email: morten.strand@abax.no
Phone: +47 415 35 316



John Ole Moe, CFO, ABAX
Email: john.moe@abax.com
Mobile: +47 95 26 87 01





This information is information that ABAX Group AS is obliged to make public
pursuant to the EU Market Abuse Regulation 596/2014. The information was
submitted for publication, with contact persons set out above, at 07:30 CEST on
the 31th of May 2023.

More information:
Access the news on Oslo Bors NewsWeb site

592017_ABAX Q1 2023.pdf