Camanio Care publishes interim report January – September 2018
The complete interim report is available as a pdf-file on our website www.camanio.com and is also attached to this press message.
Figures in parentheses refer to the corresponding period during the previous year, unless otherwise is stated.
1 JULY – 30 SEPTEMBER 2018
- Total revenue for the period amounted to kSEK 4,129 (kSEK 953)
- Net sales for the period amounted to kSEK 4,104 (kSEK 775)
- Operating profit/loss was kSEK -3,482 (kSEK -3,749)
- Profit/loss after financial items was kSEK -4,256 (kSEK -3,799)
- Earnings per share amounted to -0.25 kr (SEK -0.26)
- Equity in the Group at 30 September amounted to kSEK 3,874 (31 Dec 2017; kSEK 15,769)
- Liquid assets in the Group at 30 September amounted to kSEK 2,329 (31 Dec 2017; kSEK 5,093). Liquidity amounted to 44% (31 Dec 2017; 99 %)
- The equity ratio was 15% (31 Dec 2017; 61%)
- The number of shares at the end of the period was 16,674,539 (31 Dec 2017; 15,565,451)
1 JANUARY – 30 SEPTEMBER 2018
- Total revenue for the nine months constituting the period amounted to kSEK 9,345 (kSEK 5,055)
- Net sales for first nine months of 2018 amounted to kSEK 7,239 (kSEK 4,760)
- Operating profit/loss was kSEK -11,789 (kSEK -11,092)
- Profit after financial items amounted to kSEK -12,712 (kSEK -11,191)
- Earnings per share amounted to SEK -0.76 (SEK -0.90)
Significant events during the third quarter
- 2 july | Camanio Care signs agreement with OneCo AS to promote further Nordic collaboration
- 9 july | Camanio Care sign a new distributor for Bestic in Hong Kong
- 11 july | Camanio Care acquires Vital Integration
- 23 july | Themtech Company Ltd becomes a new distributor for Camanio Care in Thailand
- 25 july | Repurchase of convertible notes
- 27 july| Camanio Care continues global expansion to Dubai in UAE
- 7 august | Camanio Care is granted a patent for Bestic in the United States
- 13 august | Camanio Care signs a collaboration agreement with Spring Hills Senior Communities in Florida, USA
- 4 september | Camanio Care signs agreement with Thumbay Group for distribution in the GCC-region
- 17 september | Camanio Care signs agreement with Flextronics for distribution of innovative e-health hub
- 26 september | Camanio Care prepare for next growth phase
Significant events since the end of the period
18 october | Camanio Care executes a rights issue and secures next step in pursued expansion plans
29 october | First day of subscription period
6 november | Camanio Care is shortlisted as a top 10 leading robotics company
8 november | Camanio Care’s telepresence robot Giraff participates on event for AI and innovation
A Word from the CEO
During the third quarter, Camanio Care has taken several steps to develop and commercialize our offer. Our total revenue continues to increase to 4,1 (1,0) million SEK. This was in most part due to the rollout of our products, the acquisition of VITAL Integration, as well as the cancellation of a subproject in an ongoing consignment of VITAL Smart Care solution. Despite the cost of integration after the acquisition the operating result improved to -3,5 (-3,7) million SEK.
Development of our product portfolio
Camanio Care offers digital assistive devices which increases the accessibility, quality and effectiveness of care in the home. Around 60 million SEK has been invested into the company, and a majority of this has been used in research and development. Today we have a strong portfolio with products and services such as VITAL Smart Care®, BikeAround™, Bestic® och Giraff™. We accompany these with selected external products from other suppliers, to create an attractive complete solution within care technology.
The acquisition of VITAL Integration was an important step for us to take in order to be able to pursue the digitalization of care in the home. VITAL Integration offers a digital service platform which fits perfectly with our offer since it increases the possibilities of our other products, for instance by improving the connectivity in the home. Moreover, the platform also has a more attractive business model with recurring revenue, based on the number of end users and services. The most important feature however is that the platform collects data from a number of different sensors such as safety alarms, cameras, locks, stove alarms and cognitive aids, and sends it to a central, and thereby enables analysis, integration and business opportunities. Through an agreement with a large international supplier, digital care in the home is further strengthened. The cooperation can be described as an integration of a medical health hub which connects medical measurement equipment with sensors in the home, in order to deliver data to the care supplier of patients with chronical diseases living at home. We have great faith in these possibilities of data collection for an effective and dignified care in the home.
Another important event during the quarter was that the United States Patent and Trademark Office granted patent for Bestic®, Camanio’s assistive eating device. The patent regards the control algorithm, which enables Bestic to pick up food from normal, round plates. It protects us in one of the largest markets for care technology.
This summer the Swedish government allocated 350 million SEK to local municipalities for the digitalization of their elderly and disability care. The investment has increased the understanding, acceptance and rate of investments in care technology in the Swedish municipalities. For instance Kävlinge municipality bought Camanio’s assistive eating device Bestic, the MQi quality measurements as well as our experience bike BikeAround jDome to improve the quality within elderly care. Together with Kävlinge municipality we are also initiating a collaboration to improve the mealtime for elderly people with home care service. The government’s allocation has contributed to digitalization being on the agenda and has made digitalization a priority for municipalities and counties. This gives us new possibilities, both now and in following years.
We continuously develop our global reach through our US subsidiary and distributors in Asia, the Middle East, Hong Kong, Australia as well as in several European countries. During the quarter we signed agreements with new distributors in Hong Kong for the assistive eating device Bestic, for BikeAround in Thailand and with OneCo AS for a developed Nordic collaboration. Moreover, BikeAround was put into practice in hospitals in Dubai and Florida. During the quarter we also launched an e-commerce to increase the accessibility of our products.
Care and welfare faces a digital transformation
We have a driving role within care technology (connected health care solutions) to increase the accessibility, quality and effectiveness within elderly care with new digital devices. After several years of development we now face a commercialization with a leading product range and international reach.
Catharina Borgenstierna, CEO Camanio Care
For further information, please contact:
Catharina Borgenstierna, CEO
Telephone: +46 733-93 00 07
About Camanio Care
Camanio Care is a care tech company that develops innovative solutions for an excellent care at home with the individual in focus. Camanio Care offers digital service platforms for digital care, robotics, assistive devices and gamification, with products such as VITAL, BikeAround TM, Bestic® and Giraff TM. Through three focus areas; Activation, Mealtime and Digital Care, Camanio Care wishes to support people’s basic needs and increase accessibility and quality within health care. Camanio Care has its headquarters in Stockholm, a US subsidiary, Camanio Care Inc., as well as distributors in Asia, The Middle East, Hong Kong, Australia and in ten European countries.
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This information is information that Camanio Care is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, on 15 November 2018.