The quarter: October–December 2019
- Net sales amounted to SEK 3,222 thousand (3,250).
- Costs totaled SEK -12,374 thousand (-13,124).
- The operating loss before appropriations was SEK -7,676 thousand (-8,337).
- Net cash used in the period was SEK -8,414, (13,781) and the equity/assets ratio at the end of the period was 61.8 percent (80.2).
The fourth quarter ended the year with order intake up by 35 percent compared to the same period in 2018. Subscription order intake corresponded to 96 (70) percent of total order intake and was a mix of automated renewals of previous subscription agreements and new subscription agreements. Growth in the revenue share of subscriptions also had positive impact on the gross margin, which increased to 95 (70) percent.
Full year 2019
- Net sales amounted to SEK 11,921 thousand (10,155).
- Costs totaled SEK -45,001 thousand (-45,949).
- The operating loss before appropriations was SEK -27,364 thousand (-29,317).
- Net cash used amounted to SEK -28,451 thousand (-8,443)
Total order intake increased by 24 percent compared to the preceding year. The gross margin improved to 93 percent (82), as an effect of increasing the share of subscription sales.
The company’s subscription sales are billed when orders are received, but are recognized in revenue monthly in arrears. As subscriptions cover a forward-looking period of 12 months, the company allocates subscription revenues across 12 months on a straight-line basis. The effect of orders received on profit and loss is therefore limited during the billing period.
There is a positive effect on cash flow in connection with orders/billing. Invoiced order intake, which had not yet been recognized in revenue at the end of the period, increased by 71 percent to SEK 6,897 thousand (4,035). Hardware sales are recognized in revenue when the goods are delivered.
Significant events during the quarter, October–December 2019
- World-leading packaging group Sidel signed a global agreement with XMReality.
- The new CEO of XMReality was appointed and will take over in spring 2020.
Significant events after the end of the quarter
- XMReality is executing a fully guaranteed rights issue of SEK 35.8 million