Oneflow AB (publ) (ONEF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to this meeting where we walk through the highlights of the first quarter 2025 numbers for OneFlow. My name is Anders Hamnes and next to me we have Nathalie Hjelve, our CFO. And please also use the Q&A function in Zoom and not the chat. And we will get back to your questions in the end of this presentation. So before we dive into the numbers, we would just like to say a few words about ARR, because we have made a change to this formula as of January this year. As maybe some of you have seen, we also reported slightly higher ARR numbers in our press releases from January, February and March this year. The reason for that is that we initially planned not to change our historical numbers. But we realized that this gave a slightly skewed or wrong picture of our performance when it comes to growth and retention and so on. So we decided the last few weeks to just update all numbers back in the history to give you a more correct picture of how we are doing as a company. So the changes in the formula is that before, when it comes to churn, we used notice date and now we log churn on termination date. And also when it comes to new and expansion ARR, before we logged that on contract sign date and today we log it on contract start date or subscription date, invoice date, that is the same thing. This is some kind of a more live ARR. Yes, so highlights. ARR was up 23% year over year, ended at almost 165 million. And for the end of April, we had 166.2 million in ARR. We also had a quite heavy headwind in the quarter on the currency. So we lost around 3.4 on our portfolio due to a very strong kronor in Sweden. So the net effect was 5.6 million in net new ARR, 5.6 million in net new ARR for the quarter. ARR per full-time employee up 28% and closed in at slightly north of 90...