Readly International AB (OSTO:READ)

kr 15.55 -0.05 (-0.32%) Market Cap: 589.42 Mil Enterprise Value: 500.71 Mil PE Ratio: 5.37 PB Ratio: 4.82 GF Score: 77/100

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Q2 2022 Readly International AB (publ) Earnings Call Transcript

Aug 11, 2022 / 07:00AM GMT

Release Date Price: kr9.24 (+0.43%)

Transcript

Mats Brandt;publ;CEO

Readly International AB

()-

Thank you. Good morning, everyone, and welcome to Readly's Q2 presentation. My name is Mats Brandt. I'm CEO of Readly. And with me here, I have Johan Adalberth, our CFO. Let's go straight into the highlights of the quarter. Next slide, please.

We delivered the quarter with significant result improvements and total revenue growth of 30%. We have consistently improved the results for the last five quarters and are tracking towards profitability. We are executing in line with the strategic direction to drive sustainable growth, and we anticipate further positive impact from this shift during the rest of the year.

Our subscriber base grew by 6% compared to the same period last year. We expected a lower subscriber growth as we have further reduced marketing spend also in this quarter. But we continued to further optimize our marketing investments ahead. Given that, and that the macroeconomic slowdown probably also had some impact on growth, we are satisfied with the quarter.

Since the spring, we have

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