The revenues of Icecat N.V. (ISIN: NL0012751226) have increased by 6.3% during the third quarter (Q3) of 2023 compared to the same period last year. The gross profit increased over the same period by 7.8%. Due to rather stable operating expenses, the EBT increased by 16%. These earnings contribute to the already very solid cash position. We maintained growth of the business, despite a post-pandemic cool down in the e-commerce market and recession effects, and we strive to maintain or further improve growth during 2023. The order intake increased during Q3 2023 with around +13.4% year-on-year, which indicates that revenues growth continues to trend upward. Therefore, the outlook for our product information management services appears to remain solid.
The almost 10% stake in NPEX B.V. is effectuated, and we continued to evaluate other investment opportunities.
The number of product data sheet (PDS) downloads during Q3 2023 increased by 27% to 5.6 billion compared to the same period one year earlier. Icecat’s data-sheet production increased by 21% to 724K new product data-sheets, and the database contains now 16 million product data-sheets, each available in around 60 languages. The average number of PDSs updated by brand-type users has been stable, but the number of newly onboarded brand users increased by 139%. A promising development.
Another exciting trend is that the number of active Icecat LIVE users has expanded by 13% year-on-year to 633. Icecat LIVE is a service in which brand product stories, including rich media assets, are real-time displayed in retailer websites. Overall, these trends imply that the relevance of Icecat’s syndication network has further increased.
One of the most exciting developments of 2023 are the quality of AI frameworks given the many possible applications within Icecat as a publisher of structured data. Icecat is implementing an ALL-AI strategy as Icecat already provides AI-based services to clients, and works on creating new AI tools to improve processes and potentially provide a new set of services. See https://iceclog.com/all-ai-strategy-for-icecats-content-processes/.
We continue, through Icecat Capital, with the purchase of Icecat depository receipts (DRs) as part of employee share incentive plan. Thus far 58,010 DRs have been purchased via NPEX (per June 30, 2023 the balance was: 22,575 DRs). We expect to purchase around 20K DRs extra during Q4 2023 outside closed trading windows.
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