Irisity AB (publ) has published its annual report for 2021

CEO comments 2021:

Irisity has ended an intensive year in which we continue to build the company with strong growth. In concrete figures, this means a net increase in revenue of 110% with an underlaying organic growth of 41%, an EBITDA result that turned positive after an increase of 200%, a gross margin that strengthened by 20% and an MRR that increased from SEK 1,5 to 6,6 million.

During the year, we gradually increased the business volume and roll-out rate in all customer segments of both existing and new customers and partnerships. Despite extensive piloting, we gradually strengthened the gross margin during the year.

At the end of the year, we completed the transformative acquisition of Agent Vi (consolidated from mid-October). An acquisition that has given us more execution power and synergies in all critical areas including sales, marketing, products, and R&D. The sales force has more than doubled to include a market presence in seven countries. The product portfolio is now one of the market's most complete and high-performance analysis platforms. Our development power has been expanded, which strengthens our position in the vanguard of advanced in-depth algorithm development and neural networks.

Prior to the year, the goal was to build a platform for accelerated growth as of second half of the year onwards. We can conclude that this has been fulfilled and that we are now striking increasingly large deals internationally. This is expected to have a continued positive effect on MRR and cash flow going forward. During the last quarter of the year, we also reported strong EBITDA and gross margin. The net result during the year was burdened with amortization of goodwill and intangible assets. The cash position follows plan during our strong growth phase.

We deliver cutting-edge algorithms and high-quality video analysis solutions to an ever-growing global market and expect continued strong growth both organically and through potential acquisitions.

Marcus Bäcklund

The annual report is available at www.irisity.com

For further information:

Marcus Bäcklund, CEO

Phone: +46 771 41 11 00
E-mail: marcus@irisity.com

Anna Forsberg, Irisity interim CFO

Phone: +46 725 04 69 17

E-mail: anna.forsberg@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 persons set out above, at 08:00 CET on 18th of March 2022.

This disclosure contains information that Irisity AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, at 08:00 CET on 18th of March 2022.

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