January – March 2023, The Group
- Net Sales amounted to SEK 5,122 thousand (4,810)
- Costs totaled SEK -14,603 thousand (-16,593)
- The operating loss before taxes was SEK -6,593 thousand (-10,789)
- Cash flow was SEK 15,647 thousand (-9,040) and the equity/assets ratio at the end of the period was 51.5 (65.0) percent
The Order Intake during the quarter was higher than the corresponding level in Q1 2022 and increased by 27 percent to SEK 4,129 thousand (3,259). Net Sales increased year over year by 6 percent to SEK 5,122 thousand (4,810). The Annual Recurring Revenues (ARR) increased by 1 percent in comparison with Q4-2022 and amounted to SEK 18,270 thousand (18,082). The absolute majority of the revenues continues to be recurring software subscriptions. The Gross Margin remained high at 97 (94) percent for the quarter. The Order Backlog, orders received that at the end of the period remains to be recognized as Net Sales, decreased by 8 percent to SEK 12,827 thousand (13,899) compared to Q4-2022.
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.
Notable events during the quarter
- XMReality AB (publ) completed a rights issue of shares that closed on 21 December 2022. The paid subscription units (“BTU”) were converted into shares and warrants in January 2023.
- XMReality Inc. signed an annual subscription agreement with Toshiba America Business Solutions, Inc., a subsidiary of Toshiba TEC Corporation. They are a global leader within office printing and retail solutions and have offices across the U.S. and Latin America. Toshiba America Business Solutions will use XMReality to improve service resolution times and at the same time reduce travel.
- XMReality AB (publ) entered into an agreement with Erik Penser Bank regarding market making. Erik Penser Bank takes over as market maker on February 14, 2023. The market maker commitment is provided in accordance with Nasdaq Stockholm AB's rules for market making. This means that Erik Penser Bank, through their role as market maker, acts as a guarantor that there are buy and sell prices and a guaranteed available volume in the share and that the difference between the buy and sell price becomes smaller.
- XMReality AB previously signed a partnership agreement with Viveo which resulted in ordering of licenses. Viveo is a Swedish company that will offer XMReality as a service to the Swedish real estate market. The purpose of Viveo's service is to facilitate and streamline the handling of error reports and tickets within property management. The first batch of licenses will primarily be used in Viveo’s collaboration with SBB.
- The Share Holders in XMReality AB (publ) were called to the Annual General Meeting, Thursday 4 May 2023, at Hotel Scandic City, Gamla Tanneforsvägen 51, Linköping. Registration starts at 9:45am local time.
Notable events after the quarter
- XMReality has a partnership agreement in place with Pointmedia since December 2022, covering the Norwegian market, and the companies signed a new customer; Mycoteam who will use the solution for damp and mold inspections within the construction sector and is as such a new field of application for XMReality. Pointmedia offers a branded remote collaboration software ‘Remoto Solutions’, based on XMReality’s Remote Guidance software.
- XMReality Inc. signed its first enterprise licensed customer in Mexico, expanding its geographic reach in the Americas. The customer is ILSCO, a subsidiary of ECM Industries which is already a customer to XMReality Inc., with operations in Matamoros, Mexico. ILSCO produces power and grounding connectors and associated accessories. ILSCO’s initial use of XMReality will focus on internal remote video support of its own manufacturing equipment.
In this video Jörgen Remmelg, CEO of XMReality, together with Johanna Edepil, CMO, talk about the reported result for the company and which events that are particularly interesting to highlight for the investors.
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, April 27, 2023, 08:30 CEST.
The company’s Certified Adviser is Redeye AB
www.redeye.se