Interim report fourth quarter 2019
Irisity AB (publ) - strong finish in the fourth quarter, growth continues, and EBITDA result improves.
CEO comments on the fourth quarter:
Net sales amounted to MSEK 9,7 (7.1), and the work performed for own account to MSEK 3.5 (2.8). EBITDA amounted to MSEK -0.4 (-2.6) and the result after tax amounted to MSEK -3.5 (-4.5). Solidity improved to 77.7 percent (61.2). Gross margin improved and amounted to 71.8 percent (62.0).
We are still facing a strong demand for our SaaS offer IRIS. Sales during the quarter are showing strong growth both nationally and internationally. The EBITDA result improved during the period, driven by higher revenue as well as improved margins. The net result is impacted by depreciation and amortization of tangible and intangible assets.
Irisity continues to position itself internationally as a supplier of high-accuracy video analytics based on advanced machine learning. We are now delivering IRIS to the leading global security groups.
Summary of the fourth quarter 2019:
Net sales amounted to MSEK 9.7 (7.1).
Work performed for own account amounted to MSEK 3.5 (2.8).
Gross margin amounted to 71.8 percent (62.0).
EBITDA amounted to MSEK -0.4 (-2.6).
Loss after tax amounted to MSEK -3.5 (-4.5).
SaaS income amounted to MSEK 7.5.
MRR at the end of the quarter amounted to MSEK 2.7.
The report is available at www.irisity.com
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 person set out above, at 08:00 CET on 12 February 2020.
Marcus Bäcklund, CEO
Phone: +46 733 80 17 80
Erik Stenberg, CFO
Phone: +46 761 74 05 92
Irisity AB (publ) is a leader in intelligent camera surveillance. Using AI and proactive, self-learning algorithms, we upgrade both existing and new surveillance cameras and monitoring systems from passive to proactive alarming devices. IRIS™, Irisity’s SaaS solution, turns attention on true events rather than false alarms. Irisity’s high-precision AI algorithms detect human activity at long distances during all light conditions down to few pixels only.
IRIS™ currently serves a wide range of security applications for customers internationally.
The Irisity AB (publ) share IRIS is listed on Nasdaq First North Growth Market
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