Interim report January - March 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.
January - March 2019.
Capitalized expenditure for development work reached SEK 8,692 thousand (6,813)
Operating income amounted to SEK 8,725 thousand (7,163)
Operating result amounted to SEK -12,677 thousand (-11,011)
Result before tax amounted to SEK -15,801 thousand (-11,012).
Earnings per share, before dilution amounted to SEK -0.22 (-0.17).
Earnings per share after dilution SEK -0.22 (-0.17).
|KSEK||Jan-Mar2019||Jan-Mar2018||Jan-Dec 2018||Jan-Dec 2017||Jan-Dec2016|
|Net financial items||-3,124||-1||-4,475||-2,897||-238|
|Result before tax||-15,801||-11,012||-53,080||-27,292||-14,683|
|Equity per share (SEK)||1.42||1.31||1.55||1.54||1.01|
|Capital adequacy (%)||63||77||63||78||76|
For definitions, see note 26 in Brighter’s 2018 Annual Report.
Significant events during the period.
- Brighter organized seminar on The Future of Diabetes Care in connection with Arab Health in Dubai.
- Brighter received the ninth and final tranche under the financing agreement with L1 Capital and issues additional free warrants to its shareholders.
- Brighter and UAE Ministry of Health and Prevention showcased Actiste at Arab Health 2019.
- Brighter was included in the Stockholm-Uppsala Life Science Investment Hotlist.
- Brighter received observation-status on Nasdaq eligibly because working capital is considered too low.
- Brighter received 2.6 MSEK though conversions of warrants series TO4.
- Brighter agreed on new issue regarding 20 MSEK of which 10 MSEK were contributed during the first quarter, the second 10 MSEK were contributed in April.
- The number of shares and votes in Brighter AB has increased. The total number of shares and votes, including decided but not yet registered conversions, increased from 68,942,747 to 76,509,132 as of 31 of March
Significant events after the end of the period.
- Brighter was granted a patent for AI-powered monitoring of medical devices.
- Brighter launched a pilot project for increased well-being among young diabetics.
- Change in Management and Board of Directors was announced. Henrik Norström assumed the role of CEO as Truls Sjöstedt took on the Chairmanship of the board at the AGM in May. The AGM elected new board members Emanuel Lipschütz and Tove Andersson, and re-elect Jan Stålemark, Catarina Ihre and Lars Flening.
- Brighter was removed from observation status at Nasdaq.
- New board members Emanuel Lipschütz and Tove Andersson contributed 9,6 MSEK in new issue.
- Brighter won Swecare Rising Star Award 2019.
- The number of shares in Brighter AB has increased. The total number of shares and votes increased from 76,509,132 to 79,357,576.
The high point of the first quarter was undoubtedly Brighter's participation in Arab Health – the largest healthcare exhibition in the Gulf region. The UAE and other countries in the region have some of the world's highest rates of diabetes prevalence, and the United Arab Emirates Ministry of Health and Prevention (MOHAP) invited Brighter to demonstrate our Actiste solution as part of their exhibit at the event.
It was an excellent few days, in which we also participated in workshops with key stakeholders in the region to discuss the growing diabetes challenge and how to tackle it. The people we demonstrated Actiste to appreciate the solution, and we made a number of important new contacts from across the region. We are continuing to work with MOHAP and I hope to have more news to share with you about the co-operation soon.
Much of the rest of the first quarter – and into the second – was spent working on various financing arrangements and share issuances. In April, we announced that two new investors would together invest SEK 9.6 million through a directed share issue. IT entrepreneur and founder of Swedish IT company Netsafe International, Emanuel Lipschütz, has invested SEK 9.5 million. Tove Andersson, founder of KryptoGäris – Scandinavia's largest crypto and blockchain network for women – has invested SEK 70,000. Both Emanuel and Tove now also have seats on Brighter's Board.
Speaking of board changes, I would like to take this opportunity to thank the Board for their confidence in nominating me to the position of CEO, effective 9th May 2019. In conjunction with this change, outgoing CEO Truls Sjöstedt has taken the position of Executive Chairperson of the Board.
Brighter is and always will be a company based on Truls’ vision, so I want to stress that he will continue to work with me on guiding Brighter towards achieving the potential so many people have invested in. Our intention is that going forward, Truls will focus on Brighter's short and longer-term growth strategies, whereas I will take the lead on tactics to realize those strategies out in the market.
I look forward to sharing much good news with you as we move forward!
Henrik Norström, CEO of Brighter AB
Interim Report Apr–Jun 2019: 28/8/2019
Interim Report Jul–Sept 2019: 11/20/2019
For further information, please contact:
Henrik Norström, CEO
Phone: +46 73 340 30 45
Ann Zetterberg, CFO
Phone: +46 708 37 21 23
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. 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, email@example.com, www.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 May 22, 2019 at 08:00 CET.