* Earnings per share after tax, calculated on the result for the period and number of shares,12 624 171.
This is our eight consecutive quarter of growth. With increased revenue, an expanded customer base, and reduced costs, we are heading for profitability. Our gross margin now stands at 80%, an increase from 75% in Q2, which places us firmly at the higher end of the best practice benchmark for Software- as-a-Service (SaaS) companies.
Most importantly for us, customer satisfaction is high, and we are proud to enjoy long-term relationships with world-leading customers. While month-to-month contracts are not unusual for SaaS companies, at Greater Than we have been successful in agreeing long-term contracts of up to 24 months, equating to confirmed revenue for a significant period. Today, the value of our current contracts stands at more than 50 million SEK.
Our distribution channels continue to grow through our eco-system of successful customers and partners. In Q3, we onboarded Geotab, a global leader in connected transportation solutions, with over 3.7 million connected vehicles. This increased our distribution network by 36% from Q2 to 7.5 million connected vehicles. For Geotab’s customers, the partnership enables fleets globally to proactively identify collisions from their fleet data, having huge potential to reduce crashes and inform insurance purchasing.
During Q3 we also announced a three-way partnership with existing customer, ABAX, and new partner Eir, a fully digital insurance company. This will see the launch of a new data- driven insurance offer in Sweden during Q4, demonstrating how our data analytics is key to the development of innovative new digital products that meet the rapidly evolving requirements of the insurance industry.
We’re proud that our solutions continue to solve our customers’ problems, which are continuously changing. Across the industries in which we operate, we’re seeing an urgency for businesses to quantify, report on, and reduce their impact on the planet.
With that in mind, during Q4 we will focus our customer empowerment strategy on helping customers to utilize our data to increase sustainability transparency and fulfil new ESG reporting requirements. The purpose of our products has always been to convert GPS data into driver impact insights. Today, these insights are more valuable than ever to help businesses take a leading role in contributing to a sustainable future.
CEO, Greater Than
This disclosure contains information that Greater Than is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 26-10-2023 09:46 CET.
Greater Than is a driving data analytics company that specializes in understanding driver impact on the roads. Through the power of artificial intelligence (AI), Greater Than converts GPS data into driver scores that predict crash probability and climate impact. The scores can be further enhanced with additional intelligence including an analytics dashboard, prevention tool, and summary reports.
Insurance companies, underwriters, fleet solution providers, mobility providers and other owners of GPS data use Greater Than’s analysis to optimize driver risk management, achieve insurance profitability, manage sustainability & ESG reporting, and monetize GPS data. Greater Than (GREAT.ST) is listed on Nasdaq First North Growth Market. FNCA Sweden AB is the Company’s Certified Adviser. Learn more at www.greaterthan.eu.