CodeLab Capital reports strong Kuba sales, nears Cloudya acquisition

CodeLab Capital AS announced a positive third-quarter update, nearing the acquisition of 50% of Cloudya AS, an AWS reseller expected to add NOK 23m in Annual Recurring Revenue (ARR). This transaction follows the earlier acquisition of Kuba Norge, which added NOK 13m in ARR. The company's cash position stood at NOK 14m at the end of September.

Kuba, a key subsidiary, reported all-time high sales in September, adding NOK 450k in ARR for the month. It achieved positive operational cash flow year-to-date, with investments in sales and commercial efforts recently initiated. CodeLab Capital has contributed NOK 3m in funding to Kuba to support operational investments and cash flow optimization programs.

CodeLab Capital also reported a successful share issue of NOK 14.4m, aimed at funding acquisitions and increasing its financial runway.