Q2 2024 Bimobject AB Earnings Call Transcript
Key Points
- BIMobject AB (STU:BOJB) reported a continuous growth in Annual Recurring Revenue (ARR) of 5% for the quarter, which is 8% when adjusted for foreign exchange rates.
- The company maintains a strong cash position with SEK223 million in liquid assets.
- BIMobject AB has launched a new solution for distributors to help manage product information, which is a strategic step forward in supporting industry transition.
- The company has over 4 million registered users across more than 100 countries, indicating a strong global presence.
- BIMobject AB's platforms are used by most top architectural firms worldwide, showcasing their industry relevance and reach.
- The company reported a loss of minus 5.1% in EBITDA, with a slight increase in loss compared to the previous year.
- There was a slowdown in the growth of monthly downloading users, reflecting lower market activity.
- The core platform business is experiencing higher churn, affecting growth rates.
- Net sales decreased by 9% versus the previous year when adjusted for currency effects.
- The company is facing challenges with increased external costs, mainly due to the use of consultants for development projects.
Hello, everyone, and welcome to this presentation for the BIMobject Group's second quarterly presentation for this year. As usual in these presentations, you can send questions to us that we'll try to answer at the end of the call. And this can be sent to the e-mail address you see in the bottom here, [email protected]. So please send your questions to [email protected] and we'll try to pick up as many of them as we can at the end.
But first, let's introduce our usual group of panelists. So my name is Lisa. I'm your host for this meeting. I am joined here by Martin Lindh, who's the CEO of BIMobject. Welcome, Martin.
Thank you.
And we are also joined by Per Goransson, who is the CFO of BIMobject. Welcome, Per.
Thank you.
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