Ikonisys publishes its 2023 half-year financial results and reviews its operational and strategic deployments - Seite 2

Half-year results 2023 - Simplified consolidated income statement (unaudited)

Euros

H1 2023

H1 2022

Net Sales

128,909

207,212

Other income

145,689

-

Total Revenues

274,598

207,213

Cost of goods sold

(28,818)

(74,465)

Operating expenses

(1,159,240)

(1,149,075)

Operating income / (loss)

(913,461)

(1,016,327)

Financial income / (loss)

(55,465)

(5,630)

Taxes

-

-

Net income / (loss)

(968,926)

(1,021,959)

 

 

30/06/2023

31/12/2022

Cash and cash equivalents

66,063

93,985

Details of the main changes in the financial statements

On a year-over-year basis, total revenues increased by 32%, mainly because of an increase in “other income” (items not directly related to the sale of Ikoniscope20) compared to H1 2022. The net sales slightly decreased because of the sales cycle of the Ikoniscope20max, that started being installed in Q2 2023.

While General & Administrative Expenses decreased from €501k in H1 2022 to €405k in H1 2023, the total amount of the Operating Expenses slightly increased from €1,149k in H1 2022 to €1,159k in H1 2023. This is due to an increase in depreciation and amortization. In fact, starting from the beginning of 2023, capitalized R&D costs for the Ikoniscope20max started being amortized. We remind that capitalized R&D costs for the Ikoniscope20 started being amortized in 2022.