Interim report, first quarter 2019
Irisity AB (publ) delivers continued growth and international expansion.
CEO comments on the first quarter:
Sales during the period amounted to SEK 13.5 million (9.5), of which capitalized work amounted to SEK 4.5 million (2.8), operating profit EBITDA amounted to SEK -1.5 million (-1.2). Profit after tax amounted to SEK -4.5 million (-2.8). Both result levels follow plan. The gross margin was 60.3 percent (64.8).
The SaaS business area (Security as a Service) has developed well during the period both in Scandinavia and internationally, the company now delivers and evaluates IRIS technology to nearly 40 companies in 18 countries. Irisity maintains a strong innovation pace and continues to invest in R&D, organization and internationalization. Liquidity is satisfactory and follows plan.
First quarter of 2019 in summary:
- Sales amounted to SEK 13.5 million (9.5), of which capitalized work accounted for SEK 4.5 million (2.8).
- The gross margin was 60.3 per cent (64.8).
- Operating profit (EBITDA) amounted to SEK -1.5 million (-1.2).
- Profit after tax amounted to SEK -4.5 million (-2.8).
- On January 21, the company Visionists AB was acquired.
- MRR (Monthly Recurring Revenue) amounted to SEK 2.1 million (0.1).
- The company delivers and evaluates IRIS to nearly 40 companies in 18 countries.
The report is available at www.irisity.com
For further information:
Marcus Bäcklund, CEO
Phone: +46 733 80 17 80
Erik Stenberg, CFO
Phone: +46 761 74 05 92
This information is information that Irisity AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 CET on 10 May 2019.
+46 73 380 17 80
Irisity AB (publ) is a leader in intelligent camera surveillance. With the help of AI and proactively working and self-learning algorithms, we upgrade both existing and new surveillance cameras and surveillance systems from passive to alarm units. With Irisity's SaaS solution, IRIS™ turns the attention to real sharp events rather than false alarms. Irisity's AI algorithms have high precision and can determine human activity at long distances in all lighting conditions right down to only ten pixels.
IRIS™ currently monitors a variety of application areas for hundreds of customers in Scandinavia and iinternationally. Including schools, nightly surveillance of the elderly in the home, parking, critical infrastructure and surveillance of different types of protection areas.
Irisity operates in a turbulent world where surveillance has undergone a shift from questionable integrity threats to obvious security factors. With an aggressive growth strategy in one of the world's largest and fastest growing industry segments, the company is investing in increased innovation pace and expanding the SaaS offering IRIS™ internationally.
Irisity AB (publ) is listed on Nasdaq First North under short name IRIS
The Irisity AB (publ) share IRIS is listed on Nasdaq First North Stockholm, Sweden
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