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- SSH - Q1 result in line with expectations
SSH - Q1 result in line with expectations
• Q1 net sales were EUR 3.1 million (vs. 3.1m our expectation). Net sales increased by 16% compared to the previous driven mainly by strong license sales and supported by growth in subscription revenue.
• Software fees were EUR 0.9 million (0.8m Evli), Professional services were EUR 0.0 million (0.1m Evli), and Recurring revenue was EUR 2.1 million (2.2m Evli)
• Q1 operating loss was EUR – 0.6 million (vs. -0.5m our expectation)
• EPS was -0.02 (vs. -0.02 our estimate)
• Liquid assets were EUR 11.7m (12m Q4/19)
• PrivX update: development of the SaaS version of PrivX is proceeding well, and SSH anticipates the pilot launch during Q2. SSH has started the active conversion of existing CryptoAuditor customers to use PrivX.