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Interim Report Q1 January - March 2021 bam buser Strengthened Enterprise Partnerships & Continued Market Expansion in Record Quarter I am proud to report that Q1 2021 is the best quarter in Bambuser's history . We successfully converted many of our short - term pilot and proof of concept agreements to long - term contractual relationships . The impact is already reflected as a significant increase in monthly recurring revenue ( MRR ) , a key metric . In Q1 , MRR grew by 63 % compared to Q4 2020 and 550 % versus Q1 last year . The impact on our overall revenue will become increasingly apparent in the quarters to follow . Maryam Ghahremani , CEO Summary of the first quarter ■ Total income amounted to 21.3 MSEK ( 2.7 ) whereof net sales were 16.7 MSEK ( 1.8 ) , an increase of 844 % ■ EBIT was -55.6 MSEK ( -7.2 ) ■ Net income was -55.5 MSEK ( -7.2 ) ■ Earnings per share was -0.28 SEK ( -0.07 ) ■ Cash flow from operations was -61.1 MSEK ( -5.6 ) ■ Cash at end of period was 744.2 MSEK ( 7.5 ) ■ Monthly Recurring Revenue ( MRR ) * amounted to 3.9 MSEK ( 0.6 ) , an increase of 550 % ■ Total contract value ( TCV ) of new customer agreements amounted 29.8 MSEK of which 23.2 is guaranteed revenue . ■ Total headcount ( employees and consultants ) was 190 ( 25 ) . * MRR is defined as Monthly Recurring Revenue consisting of i ) the opening balance of the next coming month , ii ) contracted recurring license revenue , iii ) excluding one - time fees , usage and proof - of - concept agreements . In this report , all figures in brackets refer to the corresponding period of the previous year , unless otherwise stated . Significant events in the quarter ■ Bambuser completed development of its self- serve , One - to - Many Starter solution . Requiring no long - term commitment or extensive onboarding processes , the solution is expected to drive new implementations among small - to - medium sized businesses . ■ Bambuser expanded an existing contract with a multinational Japanese cosmetics group after a successful proof - of - concept agreement . The new agreement allows the group's entire roster of brands across all markets to leverage Bambuser's One - to- Many solution . ■ Bambuser opened an office in Tokyo to seize oppor- tunities throughout the APAC region . A contract with Japanese casual wear designer , manufacturer and retailer Uniqlo was executed following the close of the quarter ■ Bambuser entered a pilot agreement for Live Video Shopping with Mercado Libre , the largest e - com- merce and payments ecosystem in Latin America . ■ Bambuser completed a directed share issue raising proceeds of approximately MSEK 500 . ܩܩ b 1