Crayon's gross profit grows 31 per cent in Q1

Growth was particularly strong in its home Nordics region

Crayon has reported its first-quarter results with a gross profit growth of 31 per cent, driven by a high demand for software and cloud services.

The Norwegian licensing MSP giant reported growth worldwide but logged particularly strong increases in its home Nordics market.

"While the global tech market continues to be impacted by the challenging macroeconomic climate, our focus on our core business model supports our resiliency," said Crayon CEO Melissa Mulholland.

Adjusted EBITDA increased 50 per cent to NOK 185m (£13.5m) reflecting a margin of 14.7 per cent, an improvement of 1.9 bps compared to last year.

Operating profit increased to NOK 55m (£4m) from NOK 47m (£3.4m) in the same quarter the previous year.

"We see a strong demand for optimisation and innovation across all our markets, and our customer centricity ensures we can deliver on those demands," Mulholland said.

Across Europe, YOY gross profit growth increased by 53 per cent, for the Nordics it was 26 per cent, the US was up by 25 per cent and Asia Pacific, the Middle East and Africa was 21 per cent.

Further expansion

These results come just days after Crayon announced it had signed a new Strategic Collaboration Agreement (SCA) with AWS. The agreement expands Crayon's existing AWS Premier Tier Services Partner role to further cloud adoption and modernisation of joint customers.

Through this collaboration, Crayon claims it will deliver better services to manage IT estate in the cloud for customers - including guidance, tools, and expertise to manage costs, governance, and security.

The company hopes this collaboration will expand Crayon and AWS's reach, offering clients solutions to meet their cloud-computing needs while continuing to drive innovation and help organisations optimise their cloud environments.

"Crayon and AWS share a strong commitment to customer centricity and this Strategic Collaboration Agreement enhances how we help our customers leverage all the benefits of the cloud."