CSAM delivers growth in ARR and 5% EBITDA margin in Q3-22

On 27 September 2023, CSAM Health Group AS changed its name to Omda AS. For articles on historical events such as transactions, financial results etc. we will not retroactively change the name.

Oslo, Norway, 30 November 2022: Today, CSAM Health Group AS (CSAM), a leading provider of specialised software for healthcare, published its results for the third quarter of 2022.

CSAM reports an EBITDA margin of 5% for Q3-22 and an increase of ~5% in recurring revenue compared to Q3-21. CSAM’s long-term relations with healthcare providers and emergency services across 25 countries underline the benefits of its business model, especially in times of macroeconomic uncertainty.

CSAM CEO Sverre Flatby highlights the development:
– This quarter, 82% of the total revenue is recurring and with 92% gross margin the backbone of our business is gradually getting stronger.

Several contracts were renewed and expanded last quarter. For instance, in the Public Safety area, the CoordCom team renewed contracts with region Valencia’s 112 and emergency response organisation in Spain, as well as the public emergency services provider in Moldova. Another product line in Public Safety, Optima, also reached several successful milestones in Q3, with new and renewed contracts in Australia, Canada, the US and the UK.

– The predictability that comes from our long-term customer relationships allows us to keep a steady course towards our NOK 1 billion goal in 2025, says Flatby.

– We are always ready to strike M&A deals, but only when the fundamentals are right and on opportunities which increase the likelihood of value creation for our shareholders.

Highlights – Q3-22:

  • Total income 86.5 MNOK
  • Recurring revenue grew by ~5% (Q3 2022 vs Q3 2021)
  • EBITDA was 4.7 MNOK resulting in a 5% EBITDA margin
  • Organic growth of 2.4% in local currencies, 5.4% YTD
  • Gross margin 92%
  • Reorganising to increase operational efficiencies and enhance profitability

Download the report and presentation here: www.csamhealth.com/investor-relations/reports-and-webcasts/

For more information, please contact:
Einar Bonnevie
Chief Financial Officer
+47 91 55 45 32

About CSAM
CSAM Health Group is the leading provider of specialised software for healthcare in the Nordics. From this solid foundation the company has grown to serve more than 500 customers in 25 countries. Our highly specialised software solutions are instrumental in the clinical care processes of healthcare providers and in enabling emergency responders to enhance public safety. CSAM’s headquarters are in Oslo, Norway. CSAM has more than 300 dedicated specialists in ten countries across Europe, Asia, Oceania and North America, including a wholly-owned software engineering subsidiary in the Philippines.

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Einar Bonnevie
Chief Financial Officer

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Helen Døcker
Chief Marketing & Communications Officer
She is based in the company’s headquarters in Oslo, Norway.

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