Shape Robotics announces its Q3 Interim Report for July – September 2020
Company Announcement No. 17-2020
Copenhagen, November 18, 2020
This announcement is a summary and should be read in conjunction with Shape Robotics’ Interim Report for Q3, 2020 published on 18 November 2020. The report for Q3 2020 will be available on the company’s website and on this link.
Business highlights
- Sale of the Company’s new product Fable Connect started in August with a recurrent subscription model on the PRO version. More than 80 Fable Connect and PRO licenses are active at the beginning of November. Equivalent to turnover for Fable Connect TDKK 133, plus ARR from subscriptions TDKK 66.
- CCO Rikke Møgelvang left her position ultimo October, and the Company found her successor in Steen V. Lund. Steen has a solid commercial background in the educational robotics market from leading companies such as Arduino and LEGO Education
- The former minister of education, Merete Riisager, has joined the Board of Directors as an observer, and the board nominates Merete Riisager to the board at the next ordinary general meeting.
Financial Highlights in Q3, 2020
- The educational technology market continues to be affected by the Covid-19 pandemic. The revenue for Q3 is TDKK 1,672 (2,258), YTD revenue is TDKK 4,665 (5,375) equivalent to -13%.
- Gross Operating Profit (sales less cost of materials) for Q3 is TDKK 836 (TDKK 745), YTD 2,255 (1,954) equivalent to +15% due to improved margins on the product portfolio.
- Gross Operating Profit in percentage for Q3 is 50% (33%), YTD 48% (36%)
“In Q3 we spent a lot of time building the foundation for future growth: Launched new products, optimized our operations, and strengthened our organization. Just like everyone else, we also hope that COVID-19 will soon be history, but as a company we are now prepared even if it takes longer than anticipated.” says CEO, David Johan Christensen.
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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