CodeLab Capital AS - operational update prior to AGM

24 Jun 2024 07:30 CEST

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CodeLab Capital AS

Oslo, 24 june 2024

Reference is made to the AGM notice of June 18th.
This update does not replace the monthly update, which will follow after June is
over, but is intended to give an up to date status on Uniscale's operational and
commercial performance the last weeks.

Uniscale is after launching its AI product, experiencing increased demand for
its products, and the KPIs and sales numbers through June reflect this clearly.

In April Uniscale booked 42 meetings every week, while last week Uniscale booked
125.
In April Uniscale sold 5 licenses every week, while the same number last week
was 35.
And most importantly; monthly value of sales last week was NOK 37k vs NOK 1.7k
per week in April.

Please see attached for further details on the development.

Every week in June have been the best week in Uniscale history in terms of
traction with customers. The big improvements come from targeting larger
customers with more paying seats, and 100% penetration of our premium price
plan.

Last week Uniscale added NOK 37k in value/revenue. Keeping that momentum for the
next 12 months would mean a MRR of NOK 1.8 million / ARR of NOK 21 million one
year from now. Uniscale expects churn, but also ramp-up of seats per customer.
It's too early to tell which effect will have the biggest impact over 12 months.

In addition to this June has also been the month where we are onboarding a
well-known enterprise customer, which could lead to a substantial amount of
paying seats down the line.

At the same time Uniscale recocgnizes that there is still room for improvement
in the UX/UI, and we are still only utilizing few of our commercial
opportunities. Triggering more activity through conferences, articles, etc.
shortly give room for optimism of even higher sales numbers.

For further information, please contact:

CEO Kristian Ikast: ki@codelabcapital.com
CFO Christoffer Mathiesen: cm@codelabcapital.com

More information:
Access the news on Oslo Bors NewsWeb site

622175_CodeLab Capital - operational update 24 June.pdf

Source

CodeLab Capital AS

Provider

Oslo Børs Newspoint

Company Name

CODELAB CAPITAL AS

ISIN

NO0010895667

Symbol

CODE

Market

Euronext Growth

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Disclaimer

CodeLab Capital AS published this content on 24 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 June 2024 07:47:32 UTC.