Irisity AB (publ) delivers a good start to the year with continued strong growth.

The CEO comments on the first quarter:

Irisity's net sales increased 42% on an organic basis and by 165% to SEK 30 M (11.3) including acquisitions. The gross margin was strengthened to 77,0 percent (72,8) and the monthly recurring income (MRR) was SEK 7.0 million.

EBITDA amounted to SEK -4.8 million (-0.5) in the quarter and has been charged by pilot installations. Net income has been burdened by amortization of goodwill and intangible assets. The cash position follows plan.

Through continued building of the sales force and our international market presence, as well as through further scalability and synergies for the merged company, we expect continued growth and gradual improvement in profitability during the year.

Marcus Bäcklund

Highlights during the first quarter of 2022:

• Net sales SEK 30 M (11.3).
• Activated work SEK 4.0 million (4.0).
• Gross margin 77,0 percent (72,8).
• EBITDA SEK -4.8 million (-0.5).
• Profit after tax SEK -27.9 million (-3.8).
• Cash and cash equivalents at the end of the period SEK 55.7 million (56.1).
• MRR at the end of the quarter SEK 7.0 million (6.6) Q / Q.

The full interim report is available at www.irisity.com

For further information:

Marcus Bäcklund, Irisity CEO                                                             Anna Forsberg, Irisity interim CFO

Phone: +46 771 41 11 00                                                                   Phone: +46 72 504 69 17

E-mail: marcus.backlund@irisity.com                                                 E-mail: anna.forsberg@irisity.com

This disclosure contains information that Irisity AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 12-05-2022 08:00 CET.

About Irisity

At Irisity we're doing real-time video analytics powered by machine learning. Irisity is a public Swedish AI-company with headquarters at Lindholmen, Gothenburg and offices in Israel, USA, UAE, Mexico, Denmark and Singapore, where the innovative spirit is flourishing. We develop smart algorithms to detect and predict suspicious activities while preserving people’s integrity. We believe that enhanced AI performance, ethics, and privacy go hand in hand, creating a positive mark within the camera security industry. Irisity’s patented solution IRIS™ can be integrated into any new or existing camera infrastructure, installed directly into the camera, on server or in the cloud, to safeguarding people and assets. IRIS™ product portfolio includes solutions on asset protection, traffic management, and forensic search capabilities for a broad spectrum of industries such as safe cities, education, transportation, infrastructure, and the security industry. All IRIS™ functionality is available with our patented real-time anonymization, ensuring GDPR and US NDA act compliance and ethical safeguarding.

The Irisity AB (publ) share is listed on Nasdaq First North Growth Market, with the ticker IRISCertified Adviser: Erik Penser Bank AB • +46 8 463 83 00 •  certifiedadviser@penser.se