IVISYS AB provides market update

Press release
IVISYS AB
556998-4981
23 February 2017

IVISYS AB (’IVISYS’) wishes to update the market about the company’s current situation and general progress. IVISYS continues to grow its pipeline of prospective projects and the current number of prospective projects has reached 53. In comparison to the 40 offers/projects, which were communicated in the end of October 2016, this represents an increase of 22 projects, since 3 of the previously mentioned projects has been turned into orders and 6 offers are no longer relevant (has been postponed or lost). The previously communicated level of about 10 new project proposals on a monthly basis is sustained. The average time from initial contact until conclusion of prospective projects continues to be around 12 months. The offer value of the 53 project is approx. 2.7 MEUR accumulated; however, there is no certainty whether this number will become actual revenue.

The potential customers have operations of varying sizes—from smaller entities up to multinational corporations. As of today, IVISYS has more than 53 offers out in the market, at various stages with regards to specifications, negotiations to final acceptance or rejection.

Based on the numbers of prospective projects, ongoing lead generation and actual orders, IVISYS expects to be able to increase sales in 2017 substantially.

CEO Jakob Kesje comments

‘We have reached a level of sustained traction. More and more customers are aware of our market offering and we are steadily improving our processes, including our customer acquisition activities. It is also pleasing that we continuously manage to present relevant value propositions to both medium sized companies as well as very large corporations. This makes me very confident that we’ll manage to create significant value for the new customers we expect to acquire throughout during 2017,’ says IVISYS’ CEO Jakob Kesje.

For further information:

Jakob Kesje, CEO IVISYS AB
Phone: +46 (0) 763 111 911
E-mail: jk@ivisys.com

Certified Adviser

Sedermera Fondkommission is Certified Adviser to IVISYS.

This information is information that IVISYS AB 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 on 23 February 2017.

About IVISYS

IVISYS provides vision-based quality inspection solutions for industry, which can replace both manual and mechanical quality control. IVISYS’ unique patented solutions make it possible to perform complex quality control while keeping the existing production flow unaffected. Unlike existing solutions, IVISYS’ approach makes it possible to perform complex surface controls, control measurements on the micron level and control multiple components in one instant process. The solutions are based on IVISYS’ patented image data processing, which differs fundamentally from the conventional processes used within vision systems today. IVISYS is capable of utilising high-resolution cameras in the company’s image processing, while at the same time processing image information faster than the company’s competitors. The solutions offered, have an average payback period of approximately six months for customers currently relying on mechanical or manual control.