XMReality AB: Interim Report July–September 2020
Order intake grew by 112 percent and net sales by 71 percent since last period. The company’s ARR increased with 87 percent during the first three quarters of the year.
July - September 2020
- Net sales amounted to SEK 4,597 thousand (2,686)
- Costs totaled SEK -9,419 thousand (-10,278)
- The loss after net financial income and expenses was SEK -4,430 thousand (-6,369)
- Net cash used in the period amounted to SEK -3,419 thousand (-9,214)
- Equity/assets ratio at the end of the period was 73.5 percent (73.9)
During the period order intake grew by 112 percent, compared to same period last year, and totaled SEK 2,985 thousand (1,411). Order backlog, i.e. order intake that that has not been recognized in net sales at the end of the period, increased by 107 percent to SEK 8,785 thousand (4,251). Costs for the period decreased slightly compared to previous year at the same time as net sales increased significantly, a positive development in both cases and the loss after net financial income and expenses improved as a consequence. Net cash used in the period was notably improved compared to previous period.
January - September 2020
- Net sales amounted to SEK 13,629 thousand (8,700)
- Costs totaled SEK -33,577 thousand (-32,627)
- The loss after net financial income and expenses was SEK -18,190 thousand (-19,687)
- Net cash used in the period amounted to SEK 13,971 thousand (-20,037)
Net sales increased during the first three quarters with 57 percent at the same time as costs increased only by 3 percent compared to same period last year. The Annual Recurring Revenues, ARR, have increased 87 percent during the first nine months of the year and amounted to SEK 15,155 thousand (8,086 per 2019-12-31).
"The increased attention we experienced from the market during the second quarter remains. After the three first quarters of this year, we have exceeded last year's total Net Sales (SEK 13,629 vs 11,921 thousand). For sure, I do think we are on the right path!" says Jörgen Remmelg, CEO at XMReality.
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.
Link to the interim report website: https://xmreality.com/investors/finansiella-rapporter-analyser-och-dokument/
For more information, please contact:
Jörgen Remmelg, CEO XMReality
Phone: +46 739 822 409
About XMReality AB
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 60 countries. ABB, Nestlé, Electrolux, AB Inbev, Sidel, Hexagon, Bühler and Minibea Intec are some of the more than 90 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 Thursday, 29th of October, 2020 at 08.30 CET.