Interim report October - December 2019

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

October - December 2019.

  • Capitalized expenditure for development work reached SEK 9,729 thousand (11,075).
  • Net sales reached SEK 2,398 thousand (0).
  • Operating result amounted to SEK -35,029 thousand (-10,843).
  • Earnings before tax amounted to SEK -34,527 thousand (-13,141).
  • Earnings per share, before dilution amounted to SEK -0.30 (-0.17).

Difference in operating result refers among other things to a write-off of SEK 2,9 million (0) of inventories that passed expiration date and as Actiste was CE-marked the Company started amortization of capitalized development costs. Amortization was SEK 4,3 million (0) on capitalized development. Also Camanio AB contributed SEK -4,3 million (0) to the operating result.

January - December 2019.

  • Capitalized expenditure for development work reached SEK 34,563 thousand (25,021).
  • Net sales reached SEK 2,398 thousand (0).
  • Operating result amounted to SEK -79,810 thousand (-48,605).
  • Earnings before tax amounted to SEK -89,685 thousand (-53,080).
  • Earnings per share, before dilution amounted to SEK -0.99 (-0.74).

Financial overview.

SEK thousands Oct-Dec 2019 Oct-Dec 2018 Jan-Dec 2019 Jan-Dec 2018 Jan-Dec 2017 Jan-Dec 2016
Operating result -35,029 -10,843 -79,810 -48,605 -24,395 -14,445
Net financial items 502 2,298 -9,875 -4,475 -2,897 -238
Earnings before tax -34,527 -13,141 -89,685 -53,080 -27,292 -14,683
Total assets 255,664 170,616 255,664 170,616 111,354 68,734
Equity per share (SEK) 1.6 1.44 1.27 2.19 1.54 1.01
Equity ratio to total assets 81% 63% 81% 63% 78% 76%

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

Significant events during the period.

  • Brighter officially kicked-off commercial phase at GITEX in Dubai.
  • Brighter acquired 100% of Camanio Care AB (publ)'s subsidiary Camanio AB and sold its holding in Camanio Care AB (publ).
  • Brighter and Ung Diabetes association initiate collaboration to increase well-being among young people with diabetes.
  • The Swedish Patent and Registration Office granted Brighter's patent related to patch technology for measuring biomarkers.
  • Brighter strengthened the IP portfolio with 3 new patents in Sweden and South Korea.
  • The Board of Directors of Brighter called an Extraordinary General Meeting and proposed that the Meeting decide on a directed new issue to those who would have been the holders of warrants in Program 2016/19 Series I (then Board members) and Program 2016/19 Series II (then Staff and Key Persons), a warrant program which never registered with the Swedish Companies Registration Office. The EGM approved the proposal. Management and key personnel invested SEK 19.2 million in Brighter through the directed share issue which was fully signed.
  • Brighter announced a rights issue of approximately SEK 192 million.
  • Recalculation of warrants TO3, TO4 and TO5 were announced as an effect of the announced rights issue.
  • Brighter invests in the digital healthcare provider Accumbo and initiates partnership for digital health services.
  • Digital-healthcare provider Accumbo initiates ‘Diabetesdoktorn’ with Brighter’s diabetes service Actiste®.
  • The financing agreement with Winance was terminated as the company instead chose to finance the global commercialization activities through the announced rights issue.
  • The number of shares in Brighter AB has increased. The total number of shares and votes increased from 85,720,621 to 96,111,204.

Significant events after the end of the period.

  • The rights issue was finalized with a subscription rate of 99.54% – corresponding to SEK 191 million contribution in capital.
  • Brighter AB acquired Nectarine Health, an assistant care solutions provider, optimizing AI and IoT care solutions, focused on seniors living independently at home or in nursing homes.
  • The US Patent and Trademark Office granted Brighter's patent to securely combine MDD and IVDD into one unit.
  • The number of shares in Brighter AB has increased. The total number of shares and votes increased from 96,111,204 to 194,051,042.

CEO statement.

There were many highlights for Brighter in 2019, but most importantly we took a big leap forward in terms of commercialization through our partnership with the UAE Ministry of Health and Prevention. We also officially launched Actiste at the Arab Health event.

Another major development is that Brighter has grown into a Group with several new business areas, through our investments in Camanio, Accumbo and Nectarine Health. We believe there is massive long-term potential in these investments, as societal megatrends drive widespread market growth within Age-Tech and other digital-health services. Each of these companies makes a valuable contribution to Brighter’s vision of simplifying and improving life through human innovation.

One key part of developing our ecosystem is to secure resources and competences directly to the Brighter Group. Another part of our strategy is to invest in partnering companies and to acquire companies with the right strategic fit.

Brighter’s investment in the healthcare provider Accumbo links Actiste with Accumbo's care service for patients with blood-pressure related symptoms. It's well known that cardiovascular diseases are among the many complications that can arise from diabetes. The partnership with Accumbo enables us to offer customers an important combined solution. We subsequently announced a joint pilot project in Sweden that can potentially address some 150,000 care recipients.

The acquisition of Camanio AB, a welfare-technology company that develops solutions for home care, is another building block in this strategy. This acquisition brings us expertise and tools in both digital services and robotics, as well as relationships with distributors around the world.

In January 2020 we were able to secure yet another strategically important company when we acquired Nectarine Health, a Swedish company that develops artificial intelligence solutions within elderly care. These investments bring in excellent talent, which we will further support the development of our ecosystem.

Another major milestone was that our Actiste diabetes-care solution, as the first of its kind, received double CE marks – one for MDD (Medical Device Directive) and one for IVDD (In-Vitro Diagnostic Device). Brighter was also announced as the winner in the Swecare Rising Star Award 2019, boosting our company brand and market perception, and confirming that we are on the right track.

The recent capital acquisition, announced in November, gave us the financial resources to move forward and execute on our vision. The subscription rate amounted to a fantastic 99.54% of the offered shares, bringing an additional SEK 191 million onto our balance sheet. Brighter's board of directors, company management and key personnel also invested substantially in the rights issue. This means we have entered 2020 with our strongest financial position ever.

We've got the products. We've got the external recognition and we’ve forged strong partnerships. Our sales-related activities are progressing and we've strengthened our teams both in Sweden and our international target markets. We currently have several ongoing recruitment processes that are focused on supporting and expanding the sales function.

We will continue to focus on the United Arab Emirates and the Gulf Cooperation Council countries as the region where we will first bring Actiste to market. As with any market entry, there are certain timings and processes beyond Brighter's control, but we have good faith in that we will succeed. Our efforts in the region have also had some positive side effects, including opening new business opportunities in Saudi Arabia – a market four times the size of the UAE.

Our focus is always on building shareholder value, and doing so through an entrepreneurial and creative approach with the vision of creating a global company group improving the health of millions. Approximately 4,000 new shareholders have joined us on our journey the past year and we are currently close to 10,000 shareholders in total. The growing interest in the Brighter Group is very exciting and we are well on our way to building a globally recognized and acknowledged company.

Best wishes,
Henrik Norström, CEO of Brighter AB.

For further information, please contact:

Ann Zetterberg, CFO
Phone: +46 708 37 21 23 

Henrik Norström, CEO
Phone: +46 73 340 30 45

Certified Adviser
Brighter’s Certified Adviser on Nasdaq OMX First North is Eminova Fondkommission AB, +46 (0)8 – 684 211 10,,

About Brighter AB (publ)
Brighter is a health-tech company from Sweden 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. The Company's shares are listed on Nasdaq First North Growth Market/BRIG.

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 February 27, 2020, at 08:00 CET.


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