Bambuser AB (publ) (BUSER) Q1 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon and welcome to Bamboozer Q1 2024 report. I am Mariam Garamani, the CEO, and I will hold this presentation together with CFO Jonas Lagerström. Our agenda today includes a quick company introduction, an overview of our Q1 highlights, and a dive into our soft KPIs and financials. Thank you for joining us and let's begin. Bamboozer is at the forefront of the video commerce industry. Our journey began in 2007, initially providing a groundbreaking video technology that allowed users to stream live video from their mobile devices. In late 2019, we made a strategic pivot into the world of video commerce, a move that has since then drawn in more than 350 prominent brands spanning across 45 countries. Our global footprint now extends to key locations such as New York, London, Paris, Tokyo, Turku, and our headquarters in Stockholm. Since the beginning, we've been achieving strong ARR growth. However, since a couple of quarters, we're facing a tougher market with customer churn and longer sales cycles among our enterprise clients, affecting our ARR growth rate. We remain optimistic about our long-term ARR prospects, given the significant market opportunities ahead. And we're pleased to report that our net new booking showed a plus this quarter, even if it doesn't show in the ARR as of yet. The battle for the attention of the modern consumer is fierce and competitive. The true scare commodity, as said by Satayala Nadella, CEO of Microsoft, as of today the most valuable company in the world. Consumer attention spans are shortening, going from 2.5 minutes in 2000 to 1.3 seconds as of today across both Gen Y and Z. Over $600 billion will be spent on digital advertising in 2024. By simply spending more money, you won't win the customer's attention. To win, you must und...