Interim Report April-June 2020
A quarter with strong growth
Net sales rose by 85 percent and order intake by 169 percent for the second quarter compared to the same period last year. Customer utilization is still growing and now extends across 57 countries. The number of billable licenses doubled during the quarter.
The quarter, April–June 2020
- Net sales grew 85 percent to SEK 5,549 thousand (2,993)
- Costs totaled SEK -13,302 thousand (-11,997)
- The loss after net financial income and expense amounted to SEK -7,159 thousand (-7,606)
- Net cash used during the period amounted to SEK -11,866 thousand (-4,233) and the equity/assets ratio at the end of the period was 71.5 percent (72.6)
Order intake grew by 169 percent compared to the preceding period and totaled SEK 6,435 thousand (2,392). The order backlog, i.e. order intake that had not yet been recognized in net sales at the end of the period, increased by 86 percent to SEK 10,303 thousand (5,526). The majority of the order backlog had been invoiced by the end of the period, as subscriptions are normally invoiced annually in advance. As a consequence of the initial costs associated with the offices in the US and Germany, improvement to the operating result was marginal.
Usage, measured as total customer call volume, rose significantly in April and by 1,000 percent compared to the same month in 2019. At the end of the quarter, a further increase of 30 percent compared to end of April was accomplished. The product is now being used in 57 countries.
The half year, January–June 2020
- Net sales increased by 50 percent to SEK 9,032 thousand (6,014)
- Costs totaled SEK -24,158 thousand (-22,349)
- The loss after net financial income and expense was SEK -13,760 thousand (-13,318)
- Net cash used during the period was SEK 17,119 thousand (-10,823)
"It is with pleasure and satisfaction that I can report a strong growth in the second quarter of 2020. This is mainly a result of accelerating market maturity and a good performance of our employees. After my first full quarter with the company, I can make the reflection that the combination of the product, the staff, the market and the customers amplify the positive feeling I had when I took the job as CEO of XMReality!" says Jörgen Remmelg, CEO at XMReality
Link to the interim report website: https://xmreality.com/investors/finansiella-rapporter-analyser-och-dokument/
In this video Jörgen Remmelg, CEO of XMReality, together with Johanna Edepil, CMO, talks about the reported result for the company and which events that are particularly interesting to highlight for the investors.
For more information, please contact:
Jörgen Remmelg, CEO XMReality
Phone: +46 739 822 409
About XMReality Remote Guidance™
XMReality Remote Guidance is an AR-enabled knowledge sharing tool that lets you communicate with gestures, speech, chat and pointers with someone at a completely different place. It includes:
- A unique hands-overlay technology that lets you guide someone else’s hands—as if you were there.
- A web portal to manage teams and users, and to measure usage
- Integration through client-side API’s (Application Programming Interfaces)
XMReality develops and sells solutions that revolutionizes knowledge sharing through Augmented Reality (AR). The company is a market leader in Remote Guidance, which uses AR to guide onsite staff to enable quick dispositions, resolutions and/or problem prevention. The product is currently used in more than 50 countries. ABB, Nestlé, Electrolux, General Electric, AB Inbev, Sidel, Hexagon, Bühler and Minibea Intec are some of the more than 80 customers. With operations in Sweden and US, XMReality is listed on Nasdaq First North (ticker: XMR). Further information is available under www.xmreality.com
The information in this news release is such that XMReality AB (publ) is required to make public in accordance with the Market Abuse Regulation issued by the EU. The information was released by the aforementioned contact person for publication on Friday, 14th of August 2020 at 08.00 CET.