Omda delivers growth and increased profitability in Q1

Oslo, Norway, 14 May 2024: Today, Omda AS (“Omda”), a leading provider of specialised software for healthcare and emergency response, published its results for the first quarter of 2024.

Omda continues to deliver profitable growth and Q1-24 saw revenues growing organically 5%, reaching NOK 106 million.

Omda CEO Sverre Flatby highlights one of the key drivers: “In the first quarter, recurring revenue represented 79% of total sales. Our long-term relations with leading healthcare organisations secure predictable income for the years to come, and are a solid foundation for expanding our business.”

Profitability also increased, with the EBITDA margin hitting 14%, up from 5% for the same period last year.

Flatby is optimistic for the rest of the year: “While our Business Areas continue to improve margins, Omda is increasing its efforts on M&A opportunities. We have identified several attractive candidates, which are in various stages of development. Backed by our cash reserve, last-year’s bond refinancing, and expected cash from operations going forward, we are well positioned to act on the right opportunities.” 

Highlights from the report:

  • Q1-24 total income 106 MNOK vs 102 MNOK in Q1-23
  • Reported EBITDA was 15 MNOK resulting in a 14% EBITDA margin for Q1-24, compared to 5% in Q1-23
  • Recurring revenue of 83 MNOK vs 79 MNOK in Q1-23, accounting for 79% of total sales
  • Q1-24 organic growth of 5% in local currency vs Q1-23 (7% in NOK)
  • Gross margin of 93% compared to 92% in Q1-23

For more information, please contact:
Einar Bonnevie
Chief Financial Officer
+47 91 55 45 32
einar.bonnevie@omda.com

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About Omda
Omda is the leading provider of specialised software for healthcare and emergency services in the Nordics with a growing presence in Europe, North America and the Pacific region. The company has 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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Einar Bonnevie
Chief Financial Officer
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Helen Døcker
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She is based in the company’s headquarters in Oslo, Norway.

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