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XMReality: Interim Report April-June 2020

A quarter with strong growth

Net sales rose by 85 percent and order intake by 169 percent for the second quarter compared to the same period last year. Customer utilization is still growing and now extends across 57 countries. The number of billable licenses doubled during the quarter.

The quarter, April-June 2020

  • Net sales grew 85 percent to SEK 5,549 thousand (2,993)
  • Costs totaled SEK -13,302 thousand (-11,997)
  • The loss after net financial income and expense amounted to SEK -7,159 thousand (-7,606)
  • Net cash used during the period amounted to SEK -11,866 thousand (-4,233) and the equity/assets ratio at the end of the period was 71.5 percent (72.6)

Order intake grew by 169 percent compared to the preceding period and totaled SEK 6,435 thousand (2,392). The order backlog, i.e. order intake that had not yet been recognized in net sales at the end of the period, increased by 86 percent to SEK 10,303 thousand (5,526). The majority of the order backlog had been invoiced by the end of the period, as subscriptions are normally invoiced annually in advance. As a consequence of the initial costs associated with the offices in the US and Germany, improvement to the operating result was marginal.

Usage, measured as total customer call volume, rose significantly in April and by 1,000 percent compared to the same month in 2019. At the end of the quarter, a further increase of 30 percent compared to end of April was accomplished. The product is now being used in 57 countries.

The half year, January-June 2020

  • Net sales increased by 50 percent to SEK 9,032 thousand (6,014)
  • Costs totaled SEK -24,158 thousand (-22,349)
  • The loss after net financial income and expense was SEK -13,760 thousand (-13,318)
  • Net cash used during the period was SEK 17,119 thousand (-10,823)

"It is with pleasure and satisfaction that I can report a strong growth in the second quarter of 2020. This is mainly a result of accelerating market maturity and a good performance of our employees. After my first full quarter with the company, I can make the reflection that the combination of the product, the staff, the market and the customers amplify the positive feeling I had when I took the job as CEO of XMReality!" says Jörgen Remmelg, CEO at XMReality

Link to the interim report website:

In this video ( Jörgen Remmelg, CEO of XMReality, together with Johanna Edepil, CMO, talks about the reported result for the company and which events that are particularly interesting to highlight for the investors.

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