Stockholm, Sweden, November 22, 2019

The complete version of the Interim Report for January - September 2019 is attached in this press release and is available on Hoylu's web site (www.hoylu.com).

“In Q3 we started to see real growth in the number of users, although it is too early to have a significant impact on our revenues. We completed proof of concepts and security audits with some of our largest customers and started to convert our customer base to a Software as a Service (SaaS) subscription-based business model.” says Hoylu Chief Executive Officer, Stein Revelsby.

FIRST NINE MONTHS 2019
- Revenues for the first nine months were SEK 19.0 million (20.4)
- Gross margin was 69 percent (69)
- Operating loss amounted to SEK 22.7 million (-22.0) *
- Profit after tax amounted to SEK -27.5 million (-22.9)
- Earnings per share amounted to SEK -1.59 (-1.54)

* Excluding the administrative assessment of MSEK 2.1. The amount of the fine appears to be unreasonably large considering the circumstances and Hoylu is appealing the decision.

THIRD QUARTER 2019
- Revenues for the third quarter were SEK 6.3 million (9.0)
- Gross margin was 69 percent (67)
- EBITDA for the third quarter was MSEK -5.7 (-4.2)
- Operating loss was SEK 7.1 million (-5.7)
- Profit after tax amounted to SEK -7.8 million (-6.2)
- Earnings per share amounted to SEK -0.35 (-0.42)

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
Hoylu AB

Hoylu delivers innovative enterprise solutions to allow global teams to collaboratively plan, create and share information that enrichen the user experience in the virtual office. Hoylu delivers a comprehensive set of personalized Connected Workspaces™ to enable teams across locations, on any device, to work smarter and with more fun across major industries including Engineering, Education, Pharmaceutical, Construction, Manufacturing, Graphic Design and many more. 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 (8:30) CET on November 22, 2019

Attachment

• Hoylu_2019_Q3_ENG_F