Kahoot continues its explosive growth – E24

Kahoot continues its explosive growth – E24
Kahoot continues its explosive growth – E24

The learning platform has had an explosive increase in revenue since last year. At the end of the third quarter, the company had 21.5 million active user accounts.

Kahoot boss Eilert Hanoa

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byoutline Vidar Ruud / NTB

Published:Published: October 29, 2020 7:49 AM

The billable revenue ended at $ 11.6 million, and Kahoot has thus had a fun growth of 241 percent in the last year. It shows the quarterly report that was published on Thursday.

In comparison, billable revenues were $ 3.4 million in the third quarter last year.

Gross operating profit (EBITDA) in the third quarter was one million dollars, against a negative result of 1.7 million at the same time last year.

Despite the explosive increase in revenue, the company loses money, and profit before tax ended at a negative $ 795,000. However, it is a marked improvement from last year’s third quarter, when Kahoot had a profit before tax of – 2.3 million dollars.

Over the past year, the Kahoot share has skyrocketed on the Stock Exchange, with a rise of a whopping 295 percent. As of today, the share has a price of NOK 57.5 per share.

The company is now active in large parts of the world and in total the company has 21.5 million active accounts. This is an increase of 45 percent since the same time last year.

Accounts in the USA and Canada make up 9.6 million of them, and are thus the largest market. Here, however, the number of completed Kahoot quizzes has fallen five percent to 102 million since this time last year.

There are 6.7 million active Kahoot accounts in Europe. This is an increase of 49 percent since the same period last year.

Kahoot now expects to deliver billable revenues of between 41 and 42 million dollars in 2020, this is up from an estimate of between 35 to 38 million in the previous quarterly report.

The number of paying users is expected to exceed 400,000 before the end of the year, compared to previous estimates of «over 340,000».

Read the quarterly report from the company here

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