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Stockholm, Sweden, May 15, 2020

The complete version of the Interim Report for January – March 2020 is attached in this press release and is available on Hoylu’s web site (https://www.hoylu.com/investor-relations/financial-reports/).

“The COVID-19 pandemic has accelerated the use of collaboration solutions since people have been forced to work from their homes. Many executives are currently rethinking how to better utilize office space and organize their teams based on the experience from the pandemic. Hoylu’s mission is to provide better tools for connecting and engaging people and their work, and geographically dispersed teams and remote work has become the new normal.” says Hoylu Chief Executive Officer, Stein Revelsby.

FIRST QUARTER 2020
– Hoylu has implemented the SaaS model:
   – Billings for the first quarter were MSEK 9.0
   – Revenues for the first quarter were MSEK 8.2 (6.5)
   – Annual Recurring Revenue (“ARR”) and long-term service contracts for 2020 at the end of the first quarter was MSEK 20.7
– Gross margin was 69 percent (70)
– EBITDA for the first quarter was MSEK -4.9 (-6.2)
– Operating result was MSEK -6.2 (-7.6)
– Profit after tax amounted to MSEK -7.1 (-8.5)
– Earnings per share amounted to SEK -0.26 (-0.57)

The interim report for Hoylu has been prepared in accordance with the Annual Accounts Act and the Swedish Accounting Standards Board on annual report, and consolidated financial statements BFNAR 2012: 1 (K3) as well as the Swedish Securities Market Act.

For more information, please contact:
Stein Revelsby, CEO at Hoylu +1 213 440 2499 Email: sr@hoylu.com
Karl Wiersholm, CFO at Hoylu +1 425 829 2316 Email: kw@hoylu.com

About Hoylu
Hoylu is a company with one goal: Take collaboration and information sharing into the future. Through our customizable Connected Workspaces™ we deliver software solutions for companies, organizations and individuals across virtually all industries that enable all teams, big and small to work efficiently and securely in a fun and easy workflow. For more information: www.hoylu.com.

Ticker symbol: Hoylu
Marketplace: Nasdaq First North Growth Market
Certified Adviser: Mangold Fondkommission AB +46 (0) 8 50 301 550, ca@mangold.se

Publication
This information is information that Hoylu AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:30 CEST on May 15, 2020.

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