HOYLU AB ANNOUNCES PRELIMINARY REVENUE NUMBERS FOR Q2, 2020

Stockholm, Sweden, July 13, 2020 – Hoylu, a leader in visual collaboration solutions for distributed teams, today announced preliminary numbers for Q2, 2020.

Revenues in the first quarter were SEK 8.0 million up 29% from SEK 6.2 million in Q2, 2019. Annual Recurring Revenues (ARR) including long term service contracts were SEK 21.3 million at the end of Q2, up from SEK 20.7 million in Q1, 2020.

"We launched the new software in the beginning of May, followed by the launch of Modules for Pull Planning and PI Planning. We had strong growth in the number of registered users during the quarter that does not show in the ARR numbers since the new software release came with a 60-day free trial.

The closing of financing in June allows us to invest more in marketing and increase the awareness of Hoylu world-wide”, said Stein Revelsby, CEO at Hoylu.

The full report for Q2 will be released as previously announced on August 21, 2020.

For more information, please contact:
Stein Revelsby, CEO at Hoylu +1 213 440 2499 Email: sr@hoylu.com
Karl Wiersholm, CFO at Hoylu +1 425 829 2316 Email: kw@hoylu.com

About Hoylu
Hoylu’s mission is to make remote work and information sharing easy. Through our customizable Connected Workspaces™ we deliver software solutions for companies, organizations and individuals across virtually all industries that enable all teams, big and small to work efficiently and securely in an intuitive and easy workflow. For more information: www.hoylu.com.

Ticker symbol: Hoylu
Marketplace: Nasdaq First North Growth Market
Certified Adviser: Mangold Fondkommission AB +46 (0) 8 50 301 550, ca@mangold.se

Publication
This information is information that Hoylu AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:45 CEST on July 13, 2020.