CSAM Health Group announces 13% growth for the second quarter of 2022

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

CSAM continues to deliver growth in total revenue and recurring revenue, sees healthy organic growth, and positions itself for continued expansion through M&A.

Sverre Flatby, CEO of CSAM, comments: “Last quarter’s results are yet another proof point that the strategy is sound, and the organisation is continuously developing to deliver on the growth ambition. Total income increased by 13% compared to Q2-21, to almost NOK 90 million, driven by strong recurring software revenue, which grew by 14% to NOK 70 million.”

“We are on track to reach our ambitious long-term revenue target of NOK 1 billion by 2025, and we are growing our existing business areas, as well as evaluating exciting M&A candidates in the domains of healthcare and emergency services,” Flatby said. “We have restructured and enhanced our organisation to continue the growth journey, and our business areas are continuously improving the solutions that are the foundation of our long-term customer relationships. This is also reflected in the continuous growth in recurring revenue, which now accounts for 79% of total revenue.”

Report highlights:

  • Increased income by 13% (Q2-22 vs Q2-21)
  • Recurring revenue grew by 14% (Q2-22 vs Q2-21)
  • Organic growth of 5.8% in local currencies (2% in NOK)
  • Gross margin 90%
  • Scalable organisation centred around business areas launched in Q2-22
    to prepare for NOK 1bn revenue target

Download the report »

For more information, please contact:

Einar Bonnevie
Chief Financial Officer
+47 91 55 45 32
einar.bonnevie@csamhealth.com

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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