Expectations for revenue full year 2020 and guidance for 2021
Company Announcement No. 19-2020
Copenhagen, December 9, 2020
As a result of the covid-19 pandemic, schools and educational institutions in some of the Company’s main markets continue to be closed, and/or students are being taught outside the physical classroom. This situation continues to impact the Company’s international sales also in Q4, which under normal circumstances are the best-selling quarter.
The Company therefore adjusts the expectations for the revenue in 2020. The Company expects the revenue for the full year 2020 to be MDKK 6.0 - 7.0, instead of the previously announced revenue level for 2020 of MDKK 7.5 - 8.5.
These special circumstances are considered to be temporary, and the sale of robots for use in classrooms, expect to return as schools begins a more normal operation.
Guidance for 2021
The Company anticipate the market situation in 2021 to gradually return to normal. Combined with order indications from the Company’s resellers, the Company expects the full year revenue 2021 to be in the range of MDKK 14.0 – 17.0.
The Company maintains the long-term financial targets
- Average revenue growth rate of more than 80% per annum between 2021 to 2023
- Target Revenue of MDKK 55 in 2023
- Cash Flow positive for the full year 2023
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About Shape Robotics A/S
Shape Robotics A/S (”Shape Robotics” or ”the Company”) is a Danish robotics company with a strong position in the global educational technology (”EdTech”) market. The Company has developed Fable, a unique modular robot that makes it easy and fun for students to build and program their own robots. Since the launch of Fable in 2017 more than 7000 robots have been sold and shipped to schools around the world.
Shape Robotics helps educational institutions provide excellent teaching that will prepare students for a fast-changing future where digital technologies, artificial intelligence, and automation are transforming life and work. Fable is a modular robot that students can build in seconds. The robot system is robust, can withstand everyday usage in classrooms and can be used to solve demanding tasks. Students code Fable depending on their experience - from simple block programming to coding in the advanced Python language. Comprehensive teaching materials has been developed in collaboration with professional educators. Therefore, Shape Robotics provides complete teaching solutions for educational institutions from the 3rd grade to high-school and vocational schools.
Further Information
David Johan Christensen, CEO Shape Robotics A/S
Tel. (+45) 2685 0903
Email: david@shaperobotics.com
Investor relations
André Fehrn, CFO Shape Robotics A/S
Tlf. (+45) 2444 8556
Email: ir@shaperobotics.com
Rugmarken 18, 3520 Farum, Denmark
CVR-nr. 38322656
www.shaperobotics.com
Certified advisor contact
Västra Hamnen Corporate Finance AB
Christer Nilsson
Tel. (+46) 733 968 404
Email: ca@vhcorp.se
Jungmansgatan 12, 211 11 Malmö, Sweden
Bredgade 30, 1260 Copenhagen, Denmark