Interim report April - June 2019.

The full Interim report is available on Brighter's website https://brighter.se. The Interim report is also attached as a pdf file to this press release.

April - June 2019.

  •  Capitalized expenditure for development work reached SEK 9,869 thousand (5,183)  
  •  Operating result amounted to SEK -19,467 thousand (-14,278)
  •  Result before tax amounted to SEK -23,671 thousand (-15,496).
  •  Earnings per share, before dilution amounted to SEK -0.29 (-0.25).
  •  Earnings per share after dilution SEK -0.29 (SEK -0.25).

January - June 2019.

  • Capitalized expenditure for development work reached SEK 18,561 thousand (11,542)   
  • Operating result amounted to SEK -32,144 thousand (-25,746)
  • Result before tax amounted to SEK -39,472 thousand (-26,963).
  • Earnings per share, before dilution amounted to SEK -0.52 (-0.43).
  • Earnings per share after dilution SEK -0.52 (SEK -0.43).

Financial overview.

KSEK Apr-Jun2019 Apr-Jun2018 Jan-Dec 2018 Jan-Dec 2017 Jan-Dec 2016
Operating result -19,467 -14,278 -48,605 -24,395 -14,445
Net financial items -4,205 -1,218 -4,475 -2,897 -238
Result before tax -23,671 -15,496 -53,080 -27,292 -14,683
Total assets 199,991 116,900 170,616 111,354 68,734
Equity per share (SEK) 1.83 1.17 1.55 1.54 1.01
Capital adequacy (%) 73% 67% 63% 78% 76%

For definitions, see note 26 in Brighter’s 2018 Annual Report. 

Significant events during the period.

  • Henrik Norström assumed the role of CEO and Truls Sjöstedt was elected Chairman of the board at the AGM in May. The AGM elected new members Emanuel Lipschütz and Tove Andersson.
  • Brighter has been granted a patent for AI-powered monitoring of medical devices.
  • Brighter has launched a pilot project for increased well-being among young diabetics.
  • Brighter was removed from observation status at Nasdaq.
  • New board members Emanuel Lipschütz and Tove Andersson invested an aggregate amount of SEK 9,6 million in a directed share issue.
  • Brighter wins Swecare Rising Star Award 2019.
  • Single-family office will invest EUR 15 million in Brighter through directed share issues. Agreement was signed and first part payment of EUR 3 million was contributed. As part of this warrants of series TO5 was distributed to the shareholders and the investor.
  • Brighter received ISO 13485 certification.
  • Brighter carries out a directed share issue of SEK 24.3 million through set-off and cash. During the quarter Brighter amortized SEK 21.4 million in debt.
  • The number of shares in Brighter AB increased. The total number of shares and votes increased from 76,509,132 to 83,823,170.

Significant events after the end of the period.

  • Brighter carries out a directed share issue of SEK 10.8 million through set-off and cash.
  • Brighter carries out a directed share issue of SEK 5 million.
  • The number of shares in Brighter AB has increased. The total number of shares and votes increased from 83,823,170 to 85,720,621.

CEO statement.

Brighter closed the second quarter with a substantially strengthened balance sheet and having achieved a significant operational milestone for our quality management system (“QMS”) with the ISO 13485 certification for the Actiste device. The main reason for the higher loss was a write-off of stock of SEK 4.4 million, due to surpassed expiration date of consumables, resulting from the extended CE-marking process, as well as increased costs for staff.

Through directed share issues during the quarter, we raised a total of SEK 44 million and in July followed an additional SEK16 million. On top of this we had conversions relating to our agreements with L1 and Winance of almost SEK 17 million. Receiving this new capital not only reaffirmed the market's confidence in Brighter's solution, it also gave us a cash injection that we've used to amortize loans. I'm very pleased with the stronger position this puts our balance sheet in as we head into our commercialization phase.

On the operational side, Brighter's quality management system has now been certified under ISO 13485. This certification is significant, because it's an essential precursor to Actiste receiving its CE marking – a process that is now in its final phase. The spirit at Brighter is always positive, but this news came at just the right time to further buoy everyone's confidence as we headed into summer.

Finally, with the support of the board and Brighter's founder, Truls Sjöstedt, my transition into the role of CEO has been swift and smooth. As Truls and myself have been working closely together for many years, the changes of responsibilities came naturally to both of us.

Best wishes,
Henrik Norström, CEO of Brighter AB.

For further information, please contact:

Henrik Norström, CEO
Phone: +46 73 340 30 45
E-mail: Henrik.norstrom@brighter.se

Ann Zetterberg, CFO
Phone: +46 70 837 21 23
E-mail: ann.zetterberg@brighter.se

About Brighter AB (publ).
Brighter is a Swedish-based company that, from a unique IP portfolio, creates smart solutions for one of healthcare’s biggest challenges: changing patient behavior. Chronic diseases such as diabetes are rapidly increasing, and account for an increasing share of healthcare costs globally. Brighter's Business Model and Multi-Sided Market Platform - The Benefit Loop®- is based on the fact that many special interests create value for each other. By increasing access to valid health data, Brighter creates value for all stakeholders in the care chain: patients and their close associates, healthcare providers, research institutes, the pharmaceutical industry, and society as a whole. Brighter is certified under ISO 13485. In 2019 the company won the Swecare Rising Stars Award. https://brighter.se/

The Company's shares are listed on NASDAQOMX First North/BRIG. Brighter’s Certified Adviser on Nasdaq OMX First North is Eminova Fondkommission AB +46 (0)8 – 684 211 00, info@eminova.sewww.eminova.se

This information is such information, as Brighter AB is required to disclose under the EU Market Abuse Regulation and the Securities Market Act. The information was provided by the above contact persons for publication on August 28, 2019 at 08:00 CET.

About Us

Brighter is a Swedish health-tech company with a vision of a world where managing chronic diseases is no longer a struggle. We believe a data-centric approach is key to provide smarter care for chronic conditions. Our daily-care solutions facilitate the flow of real-life treatment data between chronic-disease patients, their loved ones and their care providers – improving quality of life, easing the burden on healthcare systems, and opening new opportunities for data-driven research. Brighter is certified under ISO 13485. In 2019 the company won the Swecare Rising Stars Award. https://brighter.se/ The Company's shares are listed on Nasdaq First North Growth Market/BRIG. Brighter’s Certified Adviser is Eminova Fondkommission AB +46 (0)8 – 684 211 10, adviser@eminova.se, www.eminova.se

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