BIMobject AB (STO:BIM)
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May 5, 2026, 5:23 PM CET
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Earnings Call: Q4 2021

Feb 11, 2022

Carl Silbersky
CEO, BIMobject

Architects and engineers as possible. With BIMobject solution, that gives them the possibility to reach millions of users in several markets from one single platform. We are super happy to work together with VELUX on growing their business. At BIMobject, we continue to develop new features for our building product manufacturers. We have just recently developed Search ads, the ability to grow your business with BIMobject Search ads. It allows you to position your products in front of millions of architects on top of our search bar. This is very similar to Google Ads, and we're extremely excited to have this in the market and growing the business. Highlights in the Q4 report. AR in constant currencies is close to SEK 100 million, ending at SEK 99.3 million at the end of the quarter. Net sales from recurring revenue is 78% of total net sales.

We're more of a sales company today than in the past. The operating earnings improved 24% during the quarter. We're proud to say that we are slimming up and tightening up the business. Also very proud that we now have passed an accumulated downloads of 100 million downloads on the BIMobject platform. Looking ahead, we can say that BIMobject has three strategic pillars. The first pillar for us is the user side. Maintain leadership when it comes to architects, engineers, and constructors on our platform. The strategy for this one is to grow our traffic and enable the network effects we have. Secondly is to attract the top 100 AEC firms and lock them into our platform on the user side. Thirdly is the software integration with the major architectural software out there.

The second pillar of BIMobject is the customer, the SEK 100 million business. Our goal here is to continue being the first choice for manufacturer when it comes to reach designers globally. The strategy is to retain leadership, improve the offering, we have the KPIs continuously, and as you mentioned earlier on, Search ad is one of those things. Thirdly, it's about increase the share of wallet of existing customers. The third pillar is new to many of you, and it's a sustainability platform. For us, it's about acquiring a platform, and as we're gonna walk you through in a minute, and as we mentioned, is that we just recently acquired a platform in the sustainability space. We're gonna talk more about that in just a second. The second part of the strategy is to leverage our market position.

We have millions of architects on our platform that are very much in need of the tools in order to create sustainable constructions. We also have thousands of building product manufacturers that needs to reach out to the audience with their sustainable products. We think this is a fantastic third leg to grow our business. I wanted to take the opportunity to introduce Martin, our CFO, as well as he will walk you through the new acquisition we've done with Prodikt. Over to you, Martin.

Martin Lindh
CFO, BIMobject

Thank you, Carl. Prodikt, a newly established digital platform, has strong similarities to BIMobject, but is niche towards the ESG sector. As Carl just mentioned, BIMobject's mission is to improve the construction process, and not the least in regards to climate impact. The challenge of building sustainable is an industry-wide issue, and it's not a small issue since around 40% of all global CO2 emissions comes from this particular industry. The challenge of today comes from a couple of things. Climate information or data is typically decentralized, scattered, and surprisingly non-user-oriented. That leads to sustainable building being expensive as well as complex. Climate information is therefore rarely integrated in digital building processes today. Prodikt solves this issue. While it collects, structures, and compares data, it also is architect-friendly and can significantly improve workflows.

It also enables the usage of environmental data in digital construction processes. In short, we see Prodikt as an enabler of sustainable construction. The platform, which collects data from EPDs and supplier product data, among other things, also allows its AEC users to do CO2 declarations on project level. This is increasingly important as new legislations are being introduced around the world. There is still lots to build for Prodikt, as it currently only operates in the Swedish market, but the platform is internationally scalable, and we expect continuous increase in demand over the next decade. Now we move on to the financials of the last quarter. As we earlier informed about, our sales organization has been renegotiating with our existing customers over the past year. Upgrading agreements into SaaS contracts has been their mission.

This has been impacting our sales performance throughout the year, and these effects we also saw during the fourth quarter, where churn remained at elevated levels. In the quarter, we had a steady flow of orders coming in, which could have a positive effect on next quarter. Annual growth in AR volumes for the year landed at 2% per year. Net sales was on par versus last quarter and landed at SEK 30.7 million. This was a -6% drop versus last year, mainly due to lower levels of service-related revenues. For the platform revenues, we saw a 5% increase versus the same period last year.

As Carl earlier mentioned, we saw an improvement in the result in the quarter, which is the result of our cost level coming back to a more normal level. This is in line with earlier communication, where we highlighted the reasons for the increase in non-recurring costs during the second and third quarters of 2021. Finally, the cash flow landed at SEK -22.9 million during the quarter. Although being more negative than the EBITDA for the period, we see this as a seasonality effect, as we have a large share of contracts being renewed in connection to the year-end. Thank you very much, and this was the end of the presentation, and we now open up for questions.

Carl Silbersky
CEO, BIMobject

Okay, we got a question here. The first question is, what is the current temperature of the market?

Regarding that, judging from our perspective, it's difficult. The market we are in is the construction industry, and I think that refers to that market primarily. Okay, if we look at the inflow from building product manufacturers in the last quarter as well as in January, we experienced very positive trends. Judging that, it looks pretty strong at the moment.

Martin Lindh
CFO, BIMobject

Here's another question. It's regarding our view on when to generate ARR from the increase in downloading users. To provide a background on this topic, our current ARR is related to sales to building manufacturers, which display their products on our platform, whereas downloads are related to architects and engineers downloading BIM objects from our site, and we refer to them as users. Today, our site is free for users to use, but the question of whether we could offer premium service to our users is one we commonly get. Here we see Prodikt as one step in this direction, as it does offer payable services to the architects and engineers within climate data.

We also, of course, are exploring and working on providing similar services to other segments in the market.

Carl Silbersky
CEO, BIMobject

Another question's come in, and it's regarding customers on the new commercial agreements. First of all, I have to say that it should be clarified that the statement in the Q4 report, it's not related to churn or net retention rate. What the text refers to is that by mid-February, 96% of BIMobject's customers were on a renewed price plans.

Martin Lindh
CFO, BIMobject

Yes. We have received a couple of questions regarding the acquisition in Prodikt and how we see that would be a valuable investment for us in addition to the shares that you get. All in all, I mean, we're quite impressed by the Prodikt platform and especially how it's enabling analysis of climate data and projects and how it's integrated in digital workflows. Prodikt, it serves like a fast-growing market or a fast-growing segment of our market. Today, they do that in Sweden and for other countries to follow.

What we see in Sweden right now is coming legislation that is driving the market forward in requiring a climate declaration to be made, but also other countries to follow. One of the reasons why we see that is a great match between the two companies is there are strong similarities between them. BIMobject has a long experience of scaling such platforms internationally. We also see ourselves as the most suited owner for this company and platform in their continued growth.

Carl Silbersky
CEO, BIMobject

Thank you very much, Martin. I think that concludes all the questions we have.

Martin Lindh
CFO, BIMobject

Okay. Let's see if we...

Carl Silbersky
CEO, BIMobject

Wait a second. Perhaps another incoming question.

Martin Lindh
CFO, BIMobject

Yes. It's also related to the acquisition of Prodikt. It's regarding the size of the company. Obviously, it's not a large company at the moment, but we see it as a growth platform that we will expand going forward, first in Sweden and then to neighboring markets, and going forward. Also, when it comes to synergies, we see that there is synergies both on the user side as well as the building manufacturer side, from our platform.

Carl Silbersky
CEO, BIMobject

I think we have covered all the questions here for now that we have any inbound. Worth mentioning here on Prodikt and acquisition, we see that Sweden is here leading the way when it comes to life cycle analysis, but this is an exploding market globally. In Sweden, it's today compulsory, as Martin mentioned, in any construction, new project construction, to provide climate declaration, and this will continue to spread. So in that perspective, Prodikt enables us to develop a lot of services towards our architects, that we have 3 million of today. Right. Thank you very much. I would like to thank you, Martin, and I would like to thank you, all of you, participating and listening in to our Q4 report. I wish you all have a great day. Thank you very much.

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