Sales SEK 14m (-8% vs. ABGSC 15m, +18% y-o-y), EBITDA SEK 0m (vs. ABGSC 1m), EBIT SEK -3m (vs. ABGSC -2m), Net profit SEK -3m (vs. ABGSC -2m). ARR was SEK 59m (-3.2% vs ABGSC 60m), corresponding to 20% growth y-o-y. Although we had expected positive EBITDA in the quarter, we continue to see sequential improvements, a trend we expect to continue going forward. The improved EBITDA continues to be driven by a combination of high sales growth and good cost control (opex grew 7% y-o-y).
Launch of Litium Commerce Cloud
The highlight of Q3 was the launch of Litium Commerce Cloud, an important milestone for the company. Litium’s ambition is for its clients to be able to outperform their competitors in digital commerce, which Commerce Cloud is designed to facilitate. With both Litium Commerce Cloud and the new platform version, Litium 8, now being launched, our assessment is that the company will strengthen its market leading position.
Outlook
We continue to believe that Litium will benefit long-term from the COVID-19 tailwinds that is furthering the shift from physical retail to digital commerce solutions. In the short-term however, we think that new customer intake is under some pressure as traditional retailers delay making new large investments into digital commerce solutions. Litium has a webcast today at 11:00 CET where management will present the Q3 report and host a Q&A session, link:https://content.litium.com/sv/litium-q3-rapport-2021
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