Realfiction Holding AB provides revised guidance for 2019
Realfiction Holding AB (“Realfiction”) reports that the timing of when its Sales Activities are expected to break-even has been pushed from any single month before the end of 2019 and into 2020 due to a temporary slow-down in the orders and revenue from its new Magic-as-a-Service concept.
CEO Clas Dyrholm comments: “We are experiencing a temporary slow-down in the orders and revenue from our new Magic-as-a-Service concept.
This is the case – in particular - in relation to our Exhibition vertical. We have seen that the sales generated via our partner-based go-to-market model within this vertical is not yet performing as we had hoped for, so we have decided to focus primarily on a more direct approach, which is working better for us. We expect to begin to see the results from this adjustment before year-end 2019.
Our Magic-as-a-Service for retail has also been negatively influenced in the short term. Our customers are very positive about their initial Magic-as-a-Service campaigns and have – in addition to the obvious branding effect our solution creates – been able to achieve very positive extra sales results. Despite these great results most of the brands we talk to have already spent or allocated their annual marketing campaign budgets for 2019. So, in order to continue running campaigns in the near term with us, they have to find extra funds, which influences the time it takes to close the campaign sales. We are however pleased to learn that there are also positive signs that we will be able to enter into longer term contracts to integrate our solution into our customers annual budgets for 2020. This is the key to scaling our sales at home and abroad from test installations to prime time. Nevertheless, this does not help us here and now and as a result, we are currently slightly behind in expected Magic-as-a-Service volume and we are now investing a larger share of our time with the brands to secure our share of next years’ budgets.”
Realfiction will publish its Q2 Interim Report for April-June 2019 on 29 August 2019.
For more information about Realfiction Holding AB, please contact:
Clas Dyrholm, founder and CEO
Telephone: +45 25 22 32 81
Mangold Fondkommission AB is the company's Certified Adviser and can be contacted via email@example.com 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 29 August 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.