Q3 2019 was another strong quarter and reflects focused execution by the Kahoot team now also including the acquired units Dragonbox and Poio. In total Kahoot grew invoiced revenue in Q3 2019 to $3.4 million, a 269% year-over-year growth. The organic quarter-over-quarter growth for Kahoot was 42% in Q3 2019 vs Q2 2019 supported by an organic 140% quarter-over-quarter growth for the Kahoot School segment.
Please find enclosed the Q3 2019 presentation and report.
Highlights Q3 and YTD Q3 2019
• The user growth on the platform last twelve months continued, reaching 1.1bn participating players (18% YoY growth), over 200m games played (30% growth YoY) hosted by 14.8m active accounts (30% YoY growth)
• Invoiced revenue of $3.4m in Q3 2019, compared to $0.9m in Q3 2018 and Invoiced revenue of $7.7m YTD Q3 2019, compared to $1.8m YTD Q3 2018
• Operating revenue of $2.2m in Q3 2019, compared to $0.6m in Q3 2018 and Operating revenue of $4.8m YTD Q3 2019, compared to $1.1m YTD Q3 2018
• EBITDA of -$1.7m in Q3 2019, compared to -$2.1m in Q3 2018 and EBITDA of -$5.8m YTD Q3 2019, compared to -$7.7m YTD Q3 2018
• Cash flow from operations of -$0.6m in Q3 2019, compared to -$1.9m in Q1 2019 and -$1.5m in Q2 2019
• Kahoot reached 120K paid seats as of Q3 2019, compared to 95K end of Q2 2019, where of 63K in the Business segment and 57K in the School segment
• The acquisition of Poio and DragonBox were completed by the end of August 2019. Both companies are fully consolidated in the Kahoot Group from September 1, 2019
• In October 2019 the company raised approx. $25m in new equity in a private placement to institutional shareholders
For further information, please contact:
Julie Wessel, IR
Phone: +47 993 72 451
Email: julie@kahoot.com
Martin Kværnstuen, CFO
Phone: +47 930 14 547
Email: martink@kahoot.com
About Kahoot! AS
Kahoot! is a global learning platform that makes it easy to create, share and play games or trivia quizzes. Kahoot! is used in different settings – in schools, corporations, social settings and cultural events. In 2018, Kahoot! had over one billion participating players in more than 200 countries. Kahoot! is on a mission to make learning awesome and build the leading learning platform in the world that connects its users to premium content and features. The company is headquartered in Norway.