Crayon reports 55% gross profit increase in Q3
OSLO, Norway, Oct. 25, 2022 /PRNewswire/ -- Crayon announced its financial results for the third quarter today that showed strong growth across all markets, which was largely driven by its customer-centric business model in a global market that has a continued demand for IT services.
- Crayon had gross sales that were NOK 7,774m, up 51% YOY, and a gross profit of NOK 993m, up 55% YoY.
- The Oslo-based company also had an adjusted EBITDA of NOK 127m, up 57% from the year before.
- Crayon continues to strengthen its international presence with markets outside the Nordics comprising 58% of gross profit for the last 12 months, up from 49% last year and 50% for the full year 2021.
- Meanwhile, the strongest gross profit growth came from the Asia Pacific, Middle East, and Africa regions.