BREDA, 14 APRIL 2020
Q1 2020 Highlights
- Steep volume growth marked by a 77% increase year-on-year in number of messages to 867 million
- Payments volume processed increased 12% to € 166 million
- Total revenue[1] of € 29.3 million, with core revenue[2] growing by 52% to € 27.6 million
- Roll out of global expansion strategy on track, with new hubs opened in the USA and Kenya
- Strong financial position as a result of the Euronext Amsterdam listing on 21 February and the concurrent € 73 million raise of growth capital
- CM.com reiterates its mid-term guidance of revenue growth in excess of 30% annually
Jeroen van Glabbeek, CEO CM.com: “In Q1 2020, we have seen a steep volume growth on our global communications and payments platform, by existing and new customers in areas such as logistics, home delivery, financial institutions and governments. This was partly caused by COVID-19 effects. Ticket sales were hampered in March by events cancellations and closures of cultural institutions as a result of COVID-19, which we expect to continue over the next months. We have benefited from an increase in the number of customers seeking to engage remotely with their customers, coupled with higher demand for Conversational Commerce through our capabilities as the world becomes more digitally engaged during this crisis.
Although we are facing challenges given the various lockdown regimes, we are confident that we can continue our global expansion strategy. Our financial position is strong, with no bank debt and a significant net cash position, as a result of the capital raised at our recent Euronext Amsterdam stock exchange listing in February of this year.”
[1] For Q1, revenue of Global Ticket is excluded
[2] Core revenue is revenue of the segments CPaaS, Payments, and Platform. Revenue of segment Other is excluded from Core revenue