Interim report July-September 2018.
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.
Third quarter, July–September 2018.
- Capitalized expenditure for development work reached SEK 2,404 thousand (2,019)
- Operating income amounted to SEK 2,655 thousand (2,321)
- Operating result amounted to SEK -11,163 thousand (-4,890)
- Result before tax amounted to SEK -12,975 thousand (-7,478).
- Earnings per share, before dilution amounted to SEK -0.15 (-0.10).
- Earnings per share after dilution SEK -0.15 (SEK -0.10).
Year to date, January–September 2018.
- Capitalized expenditure for development work reached SEK 13,945 thousand (17,364)
- Operating income amounted to SEK 14,780 thousand (18,827)
- Operating result amounted to SEK -34,759 thousand (-13,291)
- Result before tax amounted to SEK -39,939 thousand (-20,971).
- Earnings per share, before dilution amounted to SEK -0.57 (-0.27).
- Earnings per share after dilution SEK -0.57 (-0.27).
|KSEK||Jul-Sep 2018||Jul-Sep 2017||Jan-Sep 2018||Jan-Sep 2017||Jan-Dec 2017||Jan-Dec 2016|
|Net financial items||-958||-1,680||-2,177||-4,620||-2,897||-238|
|Result before tax||-12,975||-7,478||-39,939||-20,971||-27,292||-14,683|
|Equity per share (SEK)||1.60||1.35||1.63||1.44||1.35||1.01|
|Capital adequacy (%)||64%||88%||64%||88%||78%||76%|
For definitions, see note 24 in Brighter’s 2017 Annual Report.
Significant events during the period.
- The European Patent Office intends to grant Brighter’s patent for AI-powered monitoring of medical devices.
- Brighter draws down the seventh tranche of SEK 5 million under the financing agreement with L1 Capital and issues additional free warrants to its shareholders.
- Dr. Teddy Batanghari, Kairos Healthcare’s Co-Founder and former CEO of Summit Healthcare, becomes Senior Advisor to Brighter.
- Brighter and AFAQ initiate partnership to launch Actiste in the GCC and a corporation has been established in the UAE.
- Brighter's Board of Directors has decided to initiate the process to apply for listing its shares on a regulated market.
- Brighter has been named one of the Nordic’s most promising growth companies 2018 and as such participated in the Serendipidy Challenge 2018 in Sweden.
- Brighter announces Actiste pricing.
- Brighter expands its communication with podcast.
- The Actiste companion applications and The Benefit Loop are now CE certified.
- Brighter strengthens its financing with SEK 2.9 million through exercise of warrants in series TO4.
- Brighter receives SEK 29 million from the company's management, board and key personnel through the subscription of shares relating to warrants in series 2014/2017 and 2015/2018.
- The number of shares in Brighter AB has increased. The total number of shares and votes has increased from 65,826,337 to 68,942,747.
Significant events after the end of the period.
- Brighter appoints Deputy Managing Director of the company's UAE subsidiary.
- Brighter receives SEK 0.8 million through exercise of warrants of serie TO3.
- The number of shares in Brighter AB has increased. The total number of shares and votes has increased from 68,942,747 to 73,959,426.
CEO statement - Partnership in UAE progressing with start of local subsidiary.
One of he highpoints of the third quarter was the launch of Brighter's joint venture with the AFAQ Group in Dubai, aimed at bringing Actiste into the United Arab Emirates. This is just the kind of international breakthrough we've been looking for, and we're now building up our organization there as a stepping stone to the broader Gulf region – one of the global hotspots in rising diabetes prevalence.
Back home in Sweden, our Board of Directors voted to initiate the process to apply for listing the company's shares on a regulated market. The listing will make it easier for institutional investors and international shareholders to trade in Brighter. It will also help to create the conditions for improved liquidity in the company's stock. This is an important step in realizing our global ambitions.
Brighter’s team was given another boost in July when Jakarta-based Dr. Teddy Batanghari, co-founder of Kairos Healthcare and former CEO of Summit Healthcare, became Senior Advisor to Brighter. Teddy, former CEO of the prestigious Indonesian hospital Pandai Indah Kapuk for some 18 years, will be immensely helpful in advising Brighter with the introduction of Actiste in Southeast Asia. We're delighted to have him on board!
In terms of product development, we received news in August that the European Patent Office intends to grant Brighter’s patent for the Artificial Intelligence-driven monitoring of medical devices. This is great news for our customers and our investors, as the patent will allow us to bring some new and valuable functionalities to Actiste in the future.
I want to thank Brighter's board, management and key personnel for exercising their warrants during the third quarter and contributing capital of more than SEK 29 million. In total, we raised SEK 37 million during the period, which will now allow us to invest the resources we need into the commercialization of Actiste in the United Arab Emirates. This capital injection has come at exactly the right moment for Brighter!
Finally, some great news on the digital front too. We received final approval during the quarter that the mobile applications and digital infrastructure behind Actiste have been CE certified! This follows extensive user testing on both iOS and Android that focused on both ease of use and technical support. I'm very pleased that our solution achieved a score equivalent to 92% of the maximum! A big thank you to all for the hard work from our digital team that made this possible.
Truls Sjöstedt, Founder and CEO of Brighter AB.
Interim Report Oct–Dec 2018: 27/2/2019
Annual Report 2018: 27/3/2019
Annual General Meeting: 9/5/2019
Interim Report Jan–Mar 2019: 22/5/2019
Interim Report Apr–Jun 2019: 28/8/2019
Interim Report Jul–Sept 2019: 11/20/2019
For further questions, please contact:
Truls Sjöstedt, CEO
Phone: +46 709 73 46 00
Ann Zetterberg, CFO
Phone: +46 708 37 21 23
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. www.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, firstname.lastname@example.org, 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 November 15, 2018 at 08:55 CET.