Safeture delivers above growth target - on track towards profitability

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Interim Report – Q3 2022 

  • Annual recurring revenue (ARR) growth of 34% to 40,1 MSEK.
  • Recurring revenue amounts to 9,2 MSEK compared to 6,6 MSEK last year (+39%).
  • Gross margin % in Q3 improves to 74%.
  • Operative result improves with +2,5 MSEK compared to last year. Bottom-line result at -31% of net sales compared to -81% one year ago.

Summary of Interim Report


The Group


First nine months (2022-01-01 to 2022-09-30)

          Net revenue amounted to 26 242 (19 344) TSEK, an increase of +36% compared to the same period last year.

          Loss after financials amounted to -11 816 (-18 162) TSEK.

          Loss per share before dilution amounted to -0,39 (-0,65) SEK.

          Loss per share after dilution amounted to -0,37 (-0,60) SEK.


Third quarter (2022-07-01 to 2022-09-30)

          Net revenue amounted to 9 229 (6 621) TSEK, an increase of 39% compared to the same period last year.

          Loss after financials amounted to –2 859 (-5 345) TSEK.

          Loss per share before dilution amounted to -0,09 (-0,18) SEK.

          Loss per share after dilution amounted to -0,09 (-0,16) SEK.

The solidity amounted to 34 (71) %.


SaaS Traction

Third quarter (2022-07-01 to 2022-09-30)

          Annual recurring revenue (ARR) at the end of Q3 2022 reached 40 085 (29 942) TSEK, a year-on-year increase of +34%.

          Recurring revenue increased 39% to 9 218 (6 616) TSEK, which represents 100% (100%) of the quarterly revenue.

          Churn for the quarter was 0,2%.

          Net revenue retention was 100,5%.


Significant events during the third quarter, 2022.

          The Safeture Board of Directors decides on rights issue which will raise 27,1 MSEK. The rights issue is fully guaranteed by Safeture’s top three owners, Agartha AB, Topline Capital and Ninalpha AB. Price per share is 3 SEK/share. 10 shares will give the owner the right to buy 3 new shares.


          Safeture is partnering with Falck Global Assistance & Aeger Group and wins agreement with Innovation Norway.


          Safeture takes a major step into the French market and signs a partnership agreement with Amarante International, one of France's leading providers of security advisory and management services.


          Exlog Global, a risk solution partner to Safeture, has signed a new agreement with a large US-based engineering company to integrate Safeture's platform as part of a global travel risk program.



Message from the CEO Magnus Hultman

“Safeture delivers above growth target – on track towards profitability”


For the third quarter of 2022, Safeture delivered above growth target with an ARR growth of 34%, reaching 40 MSEK. Sales for the quarter increased with 39% to 9,2 MSEK. Operational losses compared to last year were -2,8 MSEK (-30%), which meant losses were halved and was a strong indication that we are on the right track towards profitability. The main reason behind the positive development is increased sales and higher gross margin. At the same time, operating expenses were flat compared to last year and profited from strengthened USD and EUR versus the SEK. Thus, there is a clear road to profitability, which is crucial in these financial unstable times.


Partner strategy generates inflow of new clients/users/customers

The third quarter can be quite challenging operationally, but the large inflow of new strong medical and security assistance partners helped us navigate this quarter. Among the new partners are JDMT Medical in Switzerland, Defensive IT solutions in Denmark, XSEC Global in Spain and IMG in the USA.


Our growing partner network has brought many new clients. Actually, 100 % of new sales in the quarter came from our partner network, which is a solid proof of our positioning strategy. We are the leading global independent provider of mobility risk management and employee safety technology to medical and security assistance companies, keeping the partner's business safe and their customer's employees even safer. Our new partner IMG, International Medical Group, is worth highlighting. They are a US-based company working with medical assistance and have global coverage with customer members in 190 countries. As of the first month of cooperation, we are already in joint tender processes, with Safeture as the technology provider.


Broad and agnostic approach favors partners’ options

As mentioned last quarter, we launched our risk intelligence agnostic approach, letting our partners decide which risk intelligence provider should be the default. MAX-Security was first and was followed by Riskline, with whom we just signed a cooperation agreement. As global insecurity and risk increase the complexity of decision-making, we will continue to broaden the risk intelligence offering for our partners and their clients.


Secured funding

As announced end of September, Safeture will carry out a rights issue and secure 27 MSEK, guaranteed by the three largest shareholders. The aim is to make further investments in our platform and cover ongoing costs until we reach an ARR of approximately 65 MSEK, which is the level Safeture needs to reach to be cash flow positive.


Despite the current geopolitical uncertainties and grim investment climate, we have entered the fourth quarter with confidence. In the last few days, we have signed a new intelligence provider to our open-source platform whilst our US partner Exlog has signed a new client where our solution will be integrated in their platform. We move forward with an optimistic outlook regarding our growth, position and offering, with several important product launches still ahead in the coming months.


Magnus Hultman, CEO of Safeture

Lund, October 2022


Contact: Safeture CEO Magnus Hultman: +46 706 00 81 66.

For additional information, visit


This information is such information as Safeture 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 20 October 2022 at 08:00 CET.


Safeture (founded in 2009) is a Software as a Service (SaaS) company based in Sweden. The company offers a complete platform designed to handle safety and risks for employees, wherever they are.Through world-leading technology and innovative solutions, Safeture helps risk management- and assistance providers secure their clients, global companies, and organizations to protect what matters most – their people.The Safeture share is listed on NASDAQ First North Growth Market Stockholm (ticker: SFTR). Erik Penser Bank AB is the Certified Adviser.