Sweden's Checkin.com Q1 revenue falls 24% amid turnaround

About this update from Checkin.com Group Ab

OverviewSweden B2B SaaS firm's Q1 revenue fell 24% yr/yrCompany improved EBITDA and cash flow through cost optimizationsGross margin rose to 74% from 70% yr/yrOutlookCompany says it will focus on building a more disciplined and focused commercial strategyCheckin.com expects structural tailwinds from growing European regulatory identity verification marketCompany says turnaround will require consistent execution and patience, not quick fixesResult DriversCOST OPTIMIZATIONS - Company said cost optimization measures lifted EBITDA and operating cash flowCOMMERCIAL TEAM STRENGTHENING - CEO said first concrete step is to strengthen the commercial team to support sustainable growthFOCUS ON CORE OFFERING - CEO said company will focus on a more targeted product portfolio and commercial disciplineCompany press release:Key DetailsMetricBeat/MissActualConsensus EstimateQ1 RevenueSEK 14.37 mlnQ1 EBITDASEK 4.14 mlnQ1 Gross ProfitSEK 10.61 mlnQ1 Operating Cash FlowSEK 7.48 mlnFor questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

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