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Oslo, Norway, 10 November 2023: Today, Omda AS (“Omda”), a leading provider of specialised software for healthcare, published its results for the third quarter of 2023.
Omda (previously CSAM Health Group) continues its strong growth and reported revenues of NOK 100 million for Q3-23, a 15% increase over Q3-22. Similarly, the recurring revenue increased to NOK 79 million in Q3-23, up from 71 million for the same period last year. The growth is founded on healthy operations, evidenced by the EBITDA margin, which was 27% for the quarter, up from 5% in Q1-23 and 10% in Q2-23.
Omda CEO Sverre Flatby emphasises the continued growth and solid fundamentals: “A strong quarter for Omda. We delivered significant growth in revenue, EBITDA and recurring revenue. The income year-to-date reached NOK 306 million, and we are comfortably on track to reach our NOK 400 million target for the year.”
Omda’s growth in recurring revenue and margins originate from a proven strategy of building long-term relationships with customers in several countries. By constantly improving to meet the user needs, Omda secures long-term contracts that generate a diversified revenue stream with minor customer churn.
“As we look to the end of this year and into 2024, we are optimistic, and we see interesting opportunities – both in our existing Business Areas and when it comes to M&A,” Flatby concludes.
Highlights from the report:
- Q3-23 total income 100 MNOK vs 86 MNOK in Q3-22
- Recurring revenue grew 11% to 79 MNOK and accounted for 80% of total sales
- Reported EBITDA was 27 MNOK resulting in a 27% EBITDA margin
- Q3-23 organic growth of 11% in local currency (13% in NOK)
- Gross margin increased to 93% (92%)
- CSAM successfully rebrands to Omda
For more information, please contact:
Einar Bonnevie
Chief Financial Officer
+47 91 55 45 32
einar.bonnevie@omda.com
About Omda
Omda is the leading provider of specialised software for healthcare in the Nordics with a growing presence in Europe, North America and the Pacific region. The company serves more than 500 customers in 27 countries and employs almost 300 dedicated specialists. Our highly specialised healthcare solutions empower medical professionals and emergency responders, enabling them to know more and work smarter. With a focus on user-centric design, value-driven development and close working relationships with customers, Omda delivers solutions that enhance patient safety and improve healthcare outcomes.
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