XMReality AB (publ) informs the market of ongoing contract negotiations with customers
Linköping, Sweden—XMReality AB (publ) (NASDAQ First North: XMR). As a publicly listed company XMReality disclose, in accordance with the EU Market Abuse Regulation (MAR), all major customer agreements through press releases. Nasdaq Stockholm decided this morning to halt trading in XMReality’s stock and has requested the company to release to the market so far unpublished insider information. It is the company’s assessment that the price movements during the Tuesday is not a result of information leakage.
The company consequently wishes to inform the market that it is in negotiations with two existing global customers, a global engineering group, with a yearly turnover of approx. SEK 300 billion regarding a general agreement and sales order and an American defense group, with a yearly turnover above SEK 200 billion regarding a sales order. A general agreement with the engineering group does not mean any sales orders in themselves. Its conditions will apply to new subscriptions and the renewal of existing ones. The same customer has also placed an additional sales order worth SEK 0,6 million. This order, together with already running subscriptions will, under the agreement, result in annual recurrent revenue of approx. SEK 1,2 million. The negotiation with the American defense group concerns a sales order corresponding approx. SEK 1,5 million. This order value also refer to yearly recurring revenue. At present, it is not possible to determine whether these negotiations will result in actual contracts.
With regard to both customers, the agreements would provide for global usage of the XMReality Remote Guidance software.
In addition to the above information the company is also negotiating a collaboration agreement with an additional third party supplier of smart glasses.
XMReality will notify the market of the outcome of the negotiations as soon as concrete information is available.
For more information, please contact:
Johan Castevall, CEO XMReality
Phone: +46 (0)73 356 04 81
About XMReality Remote Guidance™
XMReality Remote Guidance is an AR-enabled knowledge sharing tool that lets you communicate with someone in a completely different place using speech, gestures, pointers and still images.
- 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 measure usage.
- Integration through client-side open APIs.
XMReality AB (publ) develops and sells solutions that revolutionize knowledge sharing through augmented reality (AR). The company is a market leader in remote guidance, where AR can be used to guide on-site personnel to resolve or prevent problems. XMReality’s customers are mainly global industrial companies, including Bosch Rexroth, ABB, Siemens industrial Turbomachinery, Electrolux and Bombardier. XMReality is based in Linköping, Sweden, and is listed on Nasdaq First North (ticker: XMR). For more information, please visit: www.xmreality.com
XMReality’s Certified Adviser is Redeye AB
+46 (0)8 121 576 90
The information presented herein is such that XMReality AB (publ) is required to make public in accordance with the EU Market Abuse Regulation. The information was released for publication by the contact person listed above on Monday 26 February 2019 at 09:40 pm CET.