Ikonisys publishes its Full-Year Financial Results for 2022 and provides an update on its latest developments - Seite 2

(2,638,132)

 

(564,232)

Financial income / (loss)

(13,537)

 

(5,107)

Taxes

-

 

(1,931)

Net income / (loss)

(2,448,320)

 

(571,269)

 

 

 

 

Cash and cash equivalents at end of year

93,985

 

1,516,526

Details of the main changes in the financial statements

Net sales for the period ending on December 31, 2022 amounted to €617k, compared to €365k for the period ending December 31, 2021, a strong increase of 69% thanks to the initial sales of the Ikoniscope20 especially in the US.

The increase of the operating expenses is mainly linked to R&D projects related to the Ikoniscope20 and to sales & marketing. As far as R&D expenses are concerned, until last year they were capitalized, while starting from 2022 they are amortized in parallel with revenues starting to be generated by the specific R&D projects. As far as Sales & Marketing expenses are concerned, the increase is mainly due to the recruitment of new employees and the initiation of marketing activities.

Taking into account the above elements, the operating result is €-2.7m versus €-0.4m in 2021.

The consolidated cash position as of December 31, 2022 amounts to €94k, compared to €1.5m as of December 31, 2021. It should be noted that this position does not include the financing facility for a total amount up to €5.1m established with Atlas Capital Markets on October 5, 2022.

Strategy and outlook

Ikonisys plans to accelerate its commercialization strategy capitalizing on the marketing efforts started in 2022. The company continues its direct sales & marketing activities with new prospects in the US and top EU countries. In addition, it is actively engaging in the establishment of additional distribution agreements to add to the existing portfolio of partners in order to expand its global reach of prospective customers.