Canopy Holdings AS – Financial results for the second quarter FY 2022/2023
(Oslo, 8 December 2022) Canopy Holdings AS (Canopy Holdings, Euronext Growth Oslo:CAN) reported revenues of NOK 14.4 million in the financial second quarter ending 31 October 2022. This represents a growth of 58% compared to reported revenues of NOK 9.1 million in the corresponding period last year. The company had a cash position of NOK 26.7 million as per 31 October 2022. The company had EUR 8.0 million in B2B annual recurring revenues at the end of November 2022.
"Canopy Holdings has continued to deliver on its growth strategy with acquisition of new customers, increased ARPA and a clear focus on profitability through cost rationalization initiatives and forced attrition of unprofitable customers. Although the summer and autumn are traditionally low-seasons for our ski business which has limited activity, we continued to see a strong performance in our parks and attractions segment leading to diversified growth and lower seasonality”, says Christian Erlandson, CEO of Canopy Holdings.
As per end of November 2022, Canopy Holdings had total annual recurring revenues of EUR 8.0 million on a consolidated basis. The company had a total of 231 B2B resort customers at the end of November 2022 corresponding to a net increase of 3 customers over the last 12 months.
"We expect continued growth as we enter the winter season with a strong season start for our alpine resort offerings across the US and Europe. These positive tailwinds, along with a lower cash burn resulting from the recently announced strategic review, mark a clear path towards profitability in 2023/2024 and position the company for long-term sustainable growth”, Erlandson concludes.
Canopy Holdings will today host a company presentation at 08:00 CET.
Event: Presentation of Canopy Holdings second quarter FY 2022/2023 financial results, 1 August 2022 to 31 October 2022
Time: 08:00 – 08:30 CET
Presenters: Christian Erlandson, CEO, and James Price, CFO
The presentation will be held in English and will be followed by a Q&A session.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
- James Price, CFO, [email protected]
About Canopy Holdings AS
Canopy Holdings AS is a multi-national technology company listed on Euronext Growth Oslo. The company owns a leading portfolio of brands and companies that provides digitalization solutions to ski resorts, destinations, parks and attractions in key markets. Canopy Holdings AS currently consists of Catalate, Liftopia.com, Skitude and Spotlio.
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