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Search Menu Home Resources News Crayon Q3 Earnings 2021 NEWS Crayon reports 29% increase in Q3 gross profit 10/26/2021 CATEGORY Announcements Growth posted across all business areas, including new record high for the channel (OSLO, Norway) — Crayon, a global leader in IT services and innovation, today announced its third-quarter earnings had a gross profit of NOK 641.8 million, a 29% increase from the same period last year. The strong results were driven by growth in strategic markets and across all business areas, including a record-breaking quarter in Crayon’s channel business. This quarter highlights the scalability of our business strategy which has remained unchanged in its customer-centric approach in the past two decades. Melissa Mulholland, Crayon CEO “It is also extremely encouraging to note that we continue to deliver profitability improvements despite investing significantly across our markets in resources to drive future growth,” she said. Crayon posted a quarterly revenue of NOK 5,147 million, which is a 40% increase from last year. It also reported an adjusted EBITDA of NOK 81.4 million, up from NOK 64 million in Q3 2020. As part of Crayon’s growth momentum and the anticipated completion of the rhipe acquisition on November 3, Crayon is increasing both its 2021 and mid-term guidance. The shift toward more customers wanting higher-end technology solutions along with record gross profits in the US and Asia Pacific further accelerated the growth for the quarter. Also, with the lifting of pandemic restrictions in some countries, Crayon has been able to hire more employees, increasing its capacity to help customers with cloud-based technologies. “Our employees are our greatest asset, and I am excited that we are growing the Crayon family globally,” Mulholland said. “I am humbled that we’re able to hire many new employees in this job market because we are committed to being a place where tech talents want to work.” There will be a live webcast of the third-quarter results at 8:30 a.m. CET on Tuesday, October 26. To attend visit https://www.crayon.com/investor-relations/ For more information Contact: Melanie Coffee PR and Media Relations Director Melanie.Coffee@crayon.com +47 46 74 8648 WRITTEN BY Crayon Editorial Staff SHARE Search Menu Let's talk Find your local office Follow us Services Resources Career About us Privacy and security Crayon Group Holding ASA, Sandakerveien 114 A, NO-0484 Oslo P O Box 4384 Nydalen - NO-0402 Oslo - Norway