iZafe Group's Quarterly Report January-March 2024

STOCKHOLM, SWEDEN / ACCESSWIRE / April 26, 2024 / iZafe Group (STO:IZAFE-B.ST) iZafe Group AB (publ.) presents today, April 26th, its report for the first quarter.

Financial Summary

• The net revenue for the quarter amounted to 3,410 (228) TSEK, representing an organic growth approximately 15 times higher than the corresponding quarter of the previous year. The quarter's revenue consists of income related to the sale of the digital medication robot Dosell as well as sales of the medical technical aid Pilloxa. The increase in revenue is mainly attributed to hardware sales to the Dutch customer IVE Ventures.
• Operating profit (EBIT) for the quarter amounted to -5,569 (-5,051) TSEK.
• Operating profit before depreciation (EBITDA) for the quarter amounted to -4,588 (-2,969) TSEK.
• Profit after financial items for the quarter amounted to -5,609 (-5,187) TSEK.
• The period's cash flow from operating activities amounted to -4,109 (-4,203) TSEK.
• Earnings per share for the quarter before / after dilution amounted to -0.02 (-0.02) SEK.
• Equity per share at the end of the period amounted to 0.1 (0.2) SEK.
• The solidity at the end of the period amounted to 67.5 (84.1) percent.

Significant Events During the Quarter

• iZafe Group launched the latest version of Dosell on the market, version 3.0. In conjunction with this launch, iZafe Group has also initiated a strategic move of its production to Central Europe to be able to scale up production rates to larger volumes and shorten delivery times to existing partners. The first production series of 1,000 units of Dosell version 3.0 has been successfully completed and delivered for the Dutch market, marking the starting point for this new and improved version. With, among other things, a more powerful processor and expanded memory capacity, Dosell version 3.0 now enables a unified software platform regardless of geographical location or design of the medication pouch. This represents a significant improvement from previous versions that required extensive customization for each individual country and medication pouch type. Additionally, the new version of Dosell 3.0 introduces several advanced features, including voice and expanded connectivity options, further enhancing user experience and accessibility.

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