Camanio Care publishes year-end report for January – December 2018

The complete year-end report is available on the company’s web site www.camanio.com. It is also attached to this press release. 

Summary

Figures in brackets relate to the corresponding period of the previous year, unless otherwise specified. 

1 OCTOBER – 31 DECEMBER 2018

  • Total revenue for the period amounted to 5,077 KSEK (2,224 KSEK)
  • Net sales for the period amounted to 4,226 KSEK (1,844 KSEK)
  • The operating result amounted to -5,901 KSEK (-5,569 KSEK).
  • The result after financial items amounted to -6,282 KSEK (-5,744 KSEK)
  • Earnings per share were -0.37 SEK (-0.38 SEK).
  • Equity in the group at 31 December amounted to 3,386 KSEK (31/12/2017: 15,769 KSEK)
  • The share capital including unregistered share capital at 31 December amounted to 4,052 KSEK. (31/12/2017: 3 113)
  • Liquid assets in the group at 31 December amounted to 2,451 KSEK (31/12/2017: 5,093 KSEK). 
  • The liquidity amounted to 94% (31/12/2017: 99%).
  • The equity ratio amounted to 11% (31/12/2017: 61%).
  • The number of shares at the end of the period was 16,674,539 (31/12/2017: 15,565,451).

The board makes the judgement that the company has the right position to increase the turn-over during the upcoming years. We are taking the first steps on an exciting journey. 

1 JANUARY – 31 DECEMBER 2018

  • Total revenue for year period amounted to 14,422 KSEK (7,279 KSEK)
  • Net sales for the year amounted to 11,466 KSEK (6,604 KSEK)
  • The operating result amounted to -17,691 KSEK (-16,802 KSEK)
  • The results after financial items amounted to -19,133 KSEK (16,935 KSEK)
  • Earnings per share amounted to -1.14 SEK (-1.29 SEK)

A word from the CEO

Camanio Care has taken several steps to develop and commercialize our offer. We have delivered the telepresence robot Giraff to several municipalities, integrated the digital platform Vital Smart Care and developed new solutions for medical care at home. 

Total revenue increased with 97 percent to 14,4 (7,3) million SEK for this year and with 132 percent to 5,1 (2,2) million SEK for the quarter. This was in large part driven by a greater demand for our solutions and an increased willingness by Swedish municipalities to invest. In addition, the acquisition of Vital integration affected the turnover positively during the quarter. Despite the cost of integration following the acquisition and participation at several trade fairs, the operating result changed to -5,9 (-5,7) million SEK in the quarter. 

Our mission

Camanio Care offers smart solutions for digital home care. Our solutions increase availability, quality and effectiveness in home care. Today we offer an attractive total solution in welfare technology, with products and services such as the Vital Smart Care Platform, BikeAround, Bestic and Giraff. We complement these with carefully chosen products from other suppliers, most recently with digital therapy pets. 

Our vision is to optimize the mix between physical and digital home care. We are driven by our values to ensure safety, good quality of life, dignity and independence for the individual, and at the same time helping care organizations to work more efficiently. Our ambition is to become world leading in welfare technology, by contributing to the digitalization of care organizations through close cooperation with them. 

Development of our product offer 

During the autumn we confirmed the potential of the acquisition of Vital Integration. Vital Smart Care is a digital service platform, which ties together future health care and welfare services at home, and thereby strengthens the conditions for all our products. But it will get even better. Through Vital Smart Care we can connect our services and products with each other and to the cloud. This means that we now can collect data from an ecosystem of different sensors such as safety alarms, cameras, locks, stove guards and cognitive aids. We also integrate data through ICE, a health hub, which connects medical measuring equipment and sensors in the home and deliver the data of patients with chronical illnesses to the care givers. We believe in collecting data for an efficient and dignified home care. This enables new analyses and business opportunities. 

An important long-term effort is 5G (fifth generation networks) for connected welfare technology. 5G will lift welfare technology to a new level by making connected products and services faster and smarter. Because of this we are pleased that Vinnova, during this quarter, decided to finance our development project for 5G. 

Commercialization

The Swedish municipalities and county councils, as well as other organizations, are step by step increasing their acceptance and rate of investment in welfare technology. During the quarter, municipalities such as Kävlinge, Vetlanda, Värnamo, Tomelilla and Botkyrka, and the Hässelby district of the city of Stockholm, have bought our experience bike BikeAround Screen. We have also delivered Giraff to municipalities such as Lidingö, Kalix and Hultsfred, as well as others. 

We have strengthened our commercial business model by including a second source of revenue. First, we have our traditional revenue through the sales of products, but since the acquisition of Vital we have also received greater possibilities for recurring revenue based on the number of users and services. We also reach our customers in several ways. To increase accessibility, we operate our own web shop, which has been established as a successful sales outlet, especially for our digital therapy pets and for additional sales to existing customers. 

We have a global reach through a subsidiary in USA and distributers in Asia, the middle east, Hong Kong, Australia and in several European countries. During the quarter we have received international attention, for example in the magazine CIO Applications Europe, where we were shortlisted as a top 10 eating robotics company. We were also noted by Invest Stockholm, who included Camanio Care as one of five new businesses on their Life Science Hotlist. At an event for AI and innovation, held at the Microsoft Offices in Brussels and organized by the confederation of Swedish Enterprise, our Giraff welcomed the guests from stage. We also participated at the fair Aging Fit in Lille, France. In January at the MVTe fair we launched a show room in virtual reality which is used to display Camanio Care’s future visions of smart solutions for digital home care. We have new customers in the US and have received great interest in our solutions. We are now preparing to participate at Stanford Assistive Technology at the end of the month. 

Multiply the turn-over in the coming years

Camanio Care has an important role in driving the digitalization of home care. We have a leading range of products with internationally competitive solutions and we are now commercializing our offer. 

With this in mind the board makes the judgement that the company has the right position to multiply the turnover during the upcoming years. We are taking the first steps on an exciting journey. The judgement is based on the increased investments, made by care organizations in welfare technology, and naturally we continue to invest in a competitive range of products and services. 

During the quarter, our cash balance was strengthened by a rights issue. During the spring of 2019 we are planning for another rights issue. We have strong support from existing investors to increase our strategic and financial growth prospects. 

Catharina Borgenstierna, VD Camanio Care

For more information, please contact:

Catharina Borgenstierna, CEO
Telephone: +46 733-93 00 07
E-mail: catharina.borgenstierna@camanio.com

About Camanio Care

Camanio Care is a care technology company developing smart solutions for digital home care with the individual in focus. The company offers digital service platforms, products and services, such as Vital Smart Care, ICE, BikeAround, Bestic and Giraff. Through optimizing the mix of physical and digital care, Camanio Care works to support the basic needs of individuals and increasing the freedom, efficiency and quality of care. Camanio Care has its headquarters in Stockholm, the subsidiary Camanio Care Inc. in the U.S., and distributors in Asia, Middle East, Hongkong, Australia and tens of European countries.

Visit our website and subscribe to our newsletter,www.camanio.com

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 19 February, 2019.. 

About Us

Camanio Care is a care technology company developing smart solutions for digital home care with the individual in focus. The company offers digital service platforms, products and services, such as Vital Smart Care, ICE, BikeAround, Bestic and Giraff. Through optimizing the mix of physical and digital care, Camanio Care works to support the basic needs of individuals and increasing the freedom, efficiency and quality of care. Camanio Care has its headquarters in Stockholm, the subsidiary Camanio Care Inc. in the U.S., and distributors in Asia, Middle East, Hongkong, Australia and tens of European countries.