The Order Intake for the first half of the year increased by 13 percent compared to the corresponding period last year. However, a slight decrease quarter over quarter. Net Sales increased by 7 percent both for the quarter as well as the first half year. Costs decreased by 8 percent for the quarter and decreased 10 percent for the first half year compared to the previous year.
The Quarter April - June 2023, The Group
- Net Sales amounted to SEK 4,939 thousand (4,616)
- Costs totaled SEK -16,979 thousand (-18,431)
- The operating loss before taxes was SEK -9,414 thousand (-9,395)
- Cash flow was SEK -8,741 thousand (-12,349) and the equity/assets ratio at the end of the period was 43.1 (60.6) percent
The Order Intake during the quarter was lower than the corresponding level in Q2 2022 and decreased by 5 percent to SEK 2,217 thousand (2,344). Net Sales increased year over year by 7 percent to SEK 4,939 thousand (4,616). The Annual Recurring Revenues (ARR) remained unchanged and amounted to SEK 18,252 thousand (18,270). The absolute majority of the revenues continues to be recurring software subscriptions. The Gross Margin remained high at 96 (95) percent for the quarter. The Order Backlog, orders received that at the end of the period remains to be recognized as Net Sales, decreased to SEK 10,139 thousand (12,827) compared to Q1 2023.
The company’s financial goals to no later than the end of 2024 start to generate a positive cash-flow, and by 2025 reach an ARR of SEK 75,000 thousand with a 15 percent EBITDA, remain.
The period January - June 2023, The Group
- Net Sales amounted to SEK 10,061 thousand (9,426)
- Costs totaled SEK -31,583 thousand (-35,023)
- The operating loss before taxes was SEK -16,007 thousand (-20,184)
- Cash flow was SEK 6,906 thousand (-21,389)
Notable events during the period
- Andreas Jonsson was appointed new CEO of XMReality AB starting May 15th 2023.
- The utilization of warrants TO1 that were issued in connection with the Company's preferential issue of units during the fourth quarter of 2022 was terminated. The utilization rate amounted to 11.3 percent and XMReality received approximately SEK 1.5 million before issue costs.
- The company has launched a secure cloud-based storage service with the industry's first Microsoft OneDrive integration. As several suppliers use their own types of cloud storage, XMReality has chosen, after dialogue with our customer base, a widely available integration where the customer owns and has full control over their own data.
- The annual general meeting was held in XMReality AB (publ) on Thursday, May 4, 2023, whereby the general meeting decided to determine the profit and loss account and balance sheet for 2022.
- XMReality Inc. signed an annual subscription agreement with the Technology Resource Center of America (TRCA), a leader in the development and implementation of enterprise technology for multi-site management across the United States. They will use XMReality to further improve their industry-leading customer service.
Notable events after the period
- XMReality received an order of licenses from Yaskawa Nordic, which are part of Yaskawa Electric Corporation. They will use XMReality to strengthen service and support towards their customer base.
Link to the report website: https://www.xmreality.com/en/investors/reports-and-analyzes
The information in this 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 below mentioned contact person for publication on Thursday, July 20, 2023, 08:30 CEST.
The company’s Certified Adviser is Redeye AB
For more information, please contact:
Andreas Jonsson, CEO XMReality
Phone: +46 70 724 03 29
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 AB (publ) develops and sells solutions that revolutionize knowledge transfer through so-called Augmented Reality (AR). The company is a market leader in remote guidance where you guide a person on site via AR to solve problems or prevent them from occurring. The product is used globally in more than 60 countries. Nestlé, Electrolux, Sidel, Heineken and Saab are examples of the more than 135 customers. XMReality is based in Linköping and in the U.S. and is listed on the Nasdaq First North Growth Market (ticker: XMR). For more information, visit: www.xmreality.com