Realfiction Holding AB announces its Q3 Interim Report for July – September 2019

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The company announces that the Q3 Interim Report for July – September 2019 is now available. The full report is attached as a separate document and can also be downloaded from the company’s website ( A printed copy can be ordered via Below is a brief summary of the Q3 Interim Report.

Important key figures:

• 24% decline in total revenue Q3, 2019 compared to Q3, 2018

• 32% decline in gross profit in Q3, 2019 compared to Q3, 2018

• 9% decrease (5 points) in gross profit margin in Q3, 2019 compared to Q3, 2018

• Solvency ratio of 62.9% at 30 September 2019 compared to 69.4% at 30 June 2019

During and after the period, Realfiction has experienced both positive and negative development in its business, including:

MaaS for Retail: We still believe there is a large potential in the model, also – or maybe in particular – if we look to the wider and much larger international markets, but it requires an approach that is more scalable. So, due to these observations and the added focus upon ECHO, we have refocused our plan and will continue with our local retail activities in a leaner organizational setup that requires fewer investments and resources from our side while we look for ways to scale what works in cooperation with much larger international retailers and brands.

MaaS for Exhibitions: Earlier this year, we adjusted our MaaS for Exhibitions approach to a more direct route towards industry companies that are frequent participants in trade fairs and other events. As a result, we have now successfully built a strong pipeline of orders, with many being realized already in Q4 this year and more following in early 2020.

Project ECHO: Realizing a successful proof of concept, demonstrating that the main principles of the technology works exactly as intended, was a hugely important milestone for Realfiction. The technology remains under development and there are still technological risks to overcome. But being able to demonstrate a completely new way of controlling the direction and accuracy of light from a display, we now have several ways we can go in our effort to bring this into the market.

Directed share issue: On 27 November 2019, we announced that we raise net proceeds of approximately SEK14.4m through a directed share issue to generally finance the company and accelerate the development of the ECHO technology.

CEO Clas Dyrholm comments: “Inventing something with the potential to become a breakthrough technology is a rare achievement. In Realfiction, we are known for our visually breathtaking displays. But we have never made anything that could truly influence the daily life of people on a broad global scale – until now. With the invention of the ECHO technology, we could be standing with the chance to do just that. We are humbled by and very much dedicated to pursuing this opportunity. Realizing that we are still a small company with limited resources this leads to the natural conclusion that going forward, we will direct a larger part of our total resources in favor of ECHO.”


We highlight the following key figures from the Q3 Interim Report:

Q3 2019 (1 July – 30 September 2019)

• Revenue totaled TSEK 4,296 (Q3 2018: TSEK 5,675)

• Gross profit totaled TSEK 1,969 (Q3 2018: TSEK 2,887)

• Gross profit margin was 45.8% (Q3 2018: 50.9%)

• Result after financial items amounted to TSEK -4,817 (Q3 2018: TSEK -1,505)

• Earnings per share SEK –0.31 (Q3 2018: SEK –0.13)

• Cash flow from operating activities was TSEK -3,942 (Q3 2018: TSEK -4,609)


Q1-Q3 2019 (1 January – 30 September 2019)

• Revenue totaled TSEK 17,145 (Q1-Q3 2018: TSEK 17,980)

• Gross profit totaled TSEK 9,100 (Q1-Q3: TSEK 8,306)

• Gross profit margin was 53.1% (Q1-Q3: 46.2%)

• Result after financial items amounted to TSEK -10,901 (Q1-Q3 2018: TSEK -9,344)

• Earnings per share SEK –0.78 (Q1-Q3 2018: SEK –0.75)

• Cash flow from operating activities was TSEK -8,661 (Q1-Q3 2018: TSEK -15,512)


For more information about Realfiction Holding AB, please contact: 

Clas Dyrholm, founder and CEO 

Telephone: +45 25 22 32 81 



Certified Adviser  
Mangold Fondkommission AB is the company's Certified Adviser and can be contacted via or +46 8 503 015 50.

This information is information that Realfiction Holding 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, at 8.30 CEST on 28 November 2019.  


About Realfiction Holding AB
Founded in Denmark in 2008, Realfiction is a leading innovator and provider of Mixed Reality solutions and services, a market estimated to reach USD 80 billion by 2025. Realfiction continues to invent technologies within Mixed Reality, with an intention to disrupt the industry by pursuing the vision of converting science fiction into real fiction. Realfiction Holding AB’s share is publicly traded on Nasdaq Stockholm First North under the symbol “REALFI”. The share’s ISIN code is SE0009920994.