January-March 2020
- Net sales grew 15.3 percent to SEK 3,483 thousand (3,021)
- Costs totaled SEK -10,856 thousand (-10,352)
- The net loss was SEK -6,600 thousand (-5,712)
- Cash flow for the period was SEK 28,985 thousand (-6,590) and the equity/assets ratio at the end of the period was 71.6 percent (77.0)
The order intake during the period was dominated by software subscriptions and totaled SEK 5,653 thousand. Order backlog, which had not yet been recognized in net sales at the end of the period, increased by 48 percent to SEK 9,067 thousand (6,127). This growth is primarily attributable to the three-year contract with Electrolux Professional and the contracts with Hexagon company myVR Software and Minebea Intec. XMReality allocates prepaid subscription revenue across the term of the contract on a linear basis.
There was a positive effect on cash flow, primarily due to the executed Preferential Rights Issue.
Significant events during the period, January-March 2020
- Minebea Intec, a world-leading manufacturer of weighing and inspection technologies, is expanding its use of XMReality to users outside Europe for users in North America, South America, India and the rest of Asia.
- Electrolux Professional signed a three-year contract that covers the use of Remote Guidance. Our product will be integrated in the home appliance supplier’s customer offering. The contract is worth about SEK 1 million over the term of three years.
- XMReality and myVR Software, a Hexagon company, initiated a partnership in which Remote Guidance is being integrated in the Hexagon Xalt | Visualization platform for AR solutions.
- XMReality’s German sales office opened.
- The company executed a Preferential Rights Issue that raised capital of SEK 35.8 million before issue costs.
Significant events after the end of the quarter
- IMI, a British engineering company operating in 50 countries, has chosen to order XMReality Remote Guidance. The contract covers both hardware and software, where software constitutes around half of the order value of SEK 800,000, and will be renewed annually.
- The Kingdom Housing Association, a Scottish property owner, is now using XMReality Remote Guidance to help tenants carry out simple repairs and maintenance.
- XMReality will be supplying Remote Guidance technology to Nestlé, a Swiss food and beverage company. The companies have entered into a global Master Service Agreement. The contract is open in term and volume and will as such not guarantee any order volumes. The initial order value is about SEK 900,000 and covers the rest of 2020.
Link to the interim report website:
https://xmreality.com/investors/finansiella-rapporter-analyser-och-dokument/