Pexip delivers strong growth and early market traction on new technology innovation Oslo, Norway, May 6, 2021 - The video communications provider, Pexip, today presented its quarterly results for the first quarter of 2021. Pexip AS Q1 2021 Pexip's subscription base measured in Annual Recurring Revenue (ARR) reached USD 87.2 million in Q1 2021, up from USD 56.7 million in Q1 2020, representing an increase of 54%. The growth was driven by several key customer wins including: New South Wales Health in Australia (USD 2.4 million over three years), to help power virtual healthcare visits; the UK Foreign, Commonwealth & Development Office (more than USD 1 million over three years), to enable connectivity between their video conferencing equipment and Microsoft Teams; and Honeywell, the American Fortune 500 conglomerate (undisclosed contract value), to provide the company’s video rooms with features such as Microsoft Teams interoperability and One Touch Join functionality. At the same time, the percent of retained revenue from existing customers, was 104% year -on-year, including churn of 9% year-on-year.