May 06, 2022 / 12:00PM GMT
Carl Silbersky - BIMobject AB - CEO
Warm welcome to Q1 2022 financial report audiocast. My name is Carl Silbersky; and with me today, I also have Martin Lindh, our CFO. Questions are to be submitted to -- at the email [email protected], and we will answer them post- the presentation.
Okay. Let's walk this through. Highlights in the quarter. Our platform continues to grow, and we're passing 3 million registered users. We started the year on a positive note with our ARR growing to SEK106.2 million. Most importantly, our renewal business improved as churn decreased and average revenue per account continued to increase.
This was the last quarter of converting legacy contracts, and we do not expect delayed renewals to be significant factor going forward. In the quarter, we completed a credit system that now lets brands pay for sponsored search results, which greatly simplifies usage here. As adoption keeps growing for search ads, we anticipate sales of credits to become a revenue contributor of its own, and we expect that to be happening in the late part of 2022.
The quarter also
Q1 2022 Bimobject AB Earnings Call Transcript
Mar 03, 2024
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