Q3 2025 Pexip Holding ASA Earnings Call Transcript
Key Points
- Pexip Holding ASA (PXPHF) reported a 12% year-over-year growth in annual recurring revenue (ARR), reaching an all-time high of $122.2 million.
- The company's secure and custom business area experienced a 30% year-over-year growth, now constituting 44% of the total ARR base.
- Pexip launched a new product in collaboration with Google, enabling Google Meet hardware to connect to Teams meetings, which generated $250,000 in new ARR in October alone.
- The company's EBITDA margin improved to 25%, with a 74% increase in 12-month rolling EBITDA compared to the previous year.
- Pexip's free cash flow increased by 45% year-over-year, reaching 303 million Norwegian kroner over the last 12 months.
- Connected spaces segment showed flat year-over-year growth, despite modest growth in the past two quarters.
- The company faces potential delays in US government projects due to uncertainties, although no immediate impact has been observed.
- Currency fluctuations negatively impacted net financials, with the Norwegian kroner being weaker compared to the US dollar.
- There was a one-off reduction of $1 million in connected spaces ARR due to a change in a partner's business model.
- The company anticipates potential headwinds in Q4 due to currency effects, which were favorable in the previous year.
Good morning and welcome to this presentation of Pixip's 3rd quarter results. My name is Trond Johannessen, and I'm the CEO. Together with me here at Lisakir, I have our CFO, Steinham, and our Chief Revenue Officer Osmund Futzall. Together we will take you through the highlights of the past quarter and our focus going forward.
The standard disclaimers apply as usual.
First, a brief overview of Pexip for potential new viewers. Pexip was founded in 2012 and currently we operate in 25 countries across the globe. We are a specialist video conferencing and infrastructure company focusing on interoperability and secure and custom meetings. We do software only, delivered as a software or delivered as a service.
Pixip has unique and established partnerships with the leading companies in our industry. You see some of them on this slide. We complement and enhance their solutions and do not generally directly compete with them. Our customers are mainly large organizations in both the private and public sector that have
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