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Norwegian technology company Kahoot continues to grow tremendously, although small starting points can provide big percentage gains for growing companies.
An example is the company’s sales revenue for the third quarter which ended at $ 11.6 million, 108 million crowns. This is a 241 percent increase compared to the same period last year, more than triple.
This is still somewhat lower than in the second quarter, when the company reported growth in sales revenue of up to 317 percent year on year.
In the third quarter, the company lost almost $ 800,000 before tax, 7.5 million crowns. This is significantly better than the same period last year, when Kahoot posted a deficit of $ 2.2 million.
For the year as a whole, the company expects to bill between 41 and 42 million dollars, including contributions from the Danish technology company Actimo, which Kahoot acquired in September.
Strong user growth
User growth also continues, with 21 million active users in the last 12 months. This is a 45 percent increase in registered accounts compared to the third quarter of last year. Of these 360 thousand are paying subscribers
At the end of the third quarter, monthly subscription revenue was $ 2.7 million, equivalent to $ 25 million per month or $ 375 million per year.
Recovered two billion from the Japanese giant
Kahoot has had an incredible ride on the stock market since the company went public on Merkur Market just over a year ago, and before it went open on Friday, the stock’s value nearly quadrupled since then.
In mid-October, the company announced a major capital increase from Japanese investment company Softbank of nearly NOK 2 billion. This gave the Japanese a 9.69 percent ownership share. The money is destined, among other things, to acquisitions.
If the investment could be the first step in an acquisition of the Norwegian tech venture, Kahoot CEO Eilert Hanoa did not respond at the time:
– I have no thoughts about it.
Hanoa himself has benefited from the strong rally in the company he runs: Before the opening of the stock exchange on Thursday, his 46 million shares in the company were worth more than two billion kronor.
For the record, Eilert Hanoa is stated to be a member of the board of Dagens Næringsliv.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases via a link, which leads directly to our pages. Copying or other use of all or part of the content may only be done with written permission or as permitted by law. For more terms, see here.
