Interim report second quarter 2019
Irisity AB (publ) delivers continued growth and international expansion.
The CEO comments on the second quarter:
Sales amounted to SEK 9 million (6.9), capitalized work amounted to SEK 4.5 million (5.2). Operating profit EBITDA amounted to MSEK -2.4 (-6.7) and profit after tax to MSEK -5.8 (-8.1). Both result levels are better than expected. The equity / assets ratio strengthened to 70.1 percent (44.4). Gross margin was negatively impacted by costs associated with pilots and amounted to 58.1 percent (69.9).
Irisity has launched 15 pilots during the period, 10 of which have been completed, the remaining pilots are expected to be completed in the coming period. Of the pilots hitherto completed, 3 have entered into commercial mode, as results from completed pilots are positive, the majority of them are expected to turn into commercial roll-out.
The company is now conducting commercial roll-out for 9 companies in 8 international markets and is in contract negotiations with two global security groups in 19 markets. In the coming period, another 10 new pilots will be initiated.
Irisity maintains a strong innovation pace and continues to invest in R&D, organization and internationalization. We offer a complete high-performing product portfolio for a global market. And continue to meet a strong market acceptance, which is why we prioritize and enhance the process from initial sales contact, via technology evaluation pilots to commercial rollout.
Second quarter 2019 in summary:
• Sales amounted to SEK 9 M (6.9)
• Activated work amounted to SEK 4.5 million (5.2).
• The gross margin was 58.1 percent (69.9).
• Operating profit (EBITDA) amounted to SEK -2.4 million (-6.7). • Profit after tax amounted to SEK -5.8 M (-8.1).
• SaaS revenue amounted to SEK 6.6 million
• MRR at the end of the quarter amounted to SEK 2.4 million
The report is available at www.irisity.com
For further information:
Marcus Bäcklund, CEO
Telefon: +46 733 80 17 80 E-mail: firstname.lastname@example.org
Erik Stenberg, CFO
Telefon: +46 761 74 05 92 E-mail: email@example.com
+46 73 380 17 80
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 6 August 2019.
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
Certified Adviser: Erik Penser Bank AB • +46 8 463 83 00 • firstname.lastname@example.org