Realfiction Holding AB ("Realfiction" or the "Company") announces that the Q2 Interim Report for April - June 2024 is now available. The full report is attached as a separate document and can also be downloaded from the Company's website (www.realfiction.com/investor-financial-reports). A printed copy can be ordered via investor@realfiction.com. Below is a brief summary of the Q2 Interim Report.
Important key information and figures:
• DPT commercial discussions are progressing according to plan and a positive outcome is predicted in Q3-2024
• Lower cash outflows support financial runway into 2025
• 51% increase in total revenue in Q2-2024 compared to Q2-2023
• 44% increase in gross profit in Q2-2024 compared to Q2-2023
• 6% decrease (3.9 points) in gross profit margin in Q2-2024 compared to Q2-2023
• Solvency ratio of 56.2% at 30 June 2024 compared to 75.4% at 31 December 2023
During and after the period, Realfiction has experienced the following development in its business:
Directional Pixel Technology ("DPT"): In the second quarter of 2024, we continued to have a strong focus on commercializing our groundbreaking Directional Pixel Technology platform. As stated previously, we have reached the final stage of some commercial negotiations under NDA related to our DPT platform. These negotiations continued during the second quarter. This means that we still predict the disclosure of a first commercial agreement for our DPT platform by the end of September. It is however important to note that all negotiations carry the risk of non-acceptance from either party, as well as potential delays. A good example of the strong and broad interest in our DTP platform from the global display industry is that Steen Iversen, our Director of Advanced Display Technology, has been invited as a keynote speaker at an upcoming conference held by the microLED technology developer PlayNitride in connection with the Semicon trade fair in Taiwan. The topic of Steen's keynote is our HybridScan DPT display version.
Mixed Reality displays: Despite our strong focus on commercializing our DPT platform, we noticed a 51% revenue increase from our sales activities related to our Mixed Reality displays in Q2-2024 compared to the same period in 2023. This was due to an increase in activity among our partners and end-customers during the summer, which is not something we have seen in previous years. In addition to the positive development in Q2, the stronger summer activity has created a healthy order book for the coming months.
Financial runway: Like in Q1, we see a reduction of our cash outflows from operations and investments by TSEK 427 in Q2-2024 and TSEK 2,318 in H1-2024 due to the shift to the commercialization phase from the development stage. This lower level of cash outflows allows all our business operations, including the execution of our DPT go-to-market strategy, to be financed into 2025 with the funding from the loan we received in February 2024.
CEO Clas Dyrholm comments: "We've seen another promising quarter in line with our communicated go-to-market plan for our DPT platform. Additionally, we are observing continued signs of market readiness for multiview 2D/3D displays, and we have a financial runway extending into 2025. Despite not having tangible DPT news to announce this quarter, we remain optimistic about the future of DPT and Realfiction. I anticipate being able to update our investors within the next 32 days as we move closer to finalizing our first DPT commercial agreement. "
We highlight the following key figures from the Q2 Interim Report:
Q2 2024 (1 April - 30 June 2024)
• Revenue: TSEK 2,508 (Q2-2023: TSEK 1,643)
• Gross profit: TSEK 1,511 (Q2-2023: TSEK 1,053)
• Gross profit margin: 60.2% (Q2-2023: 64.1%)
• Result after financial items: TSEK -8,508 (Q2-2023: TSEK -2,935)
• Earnings per share: SEK -0.43 (Q2-2023: -0.15)
• Cash flow from operating activities: TSEK -6,122 (Q2-2023: TSEK -1,964)
• Equity: TSEK 52,309 (Q2-2023: TSEK 72,844)
H1 2024 (1 January - 30 June 2024)
• Revenue: TSEK 4,211 (H1-2023: TSEK 4,592)
• Gross profit: TSEK 2,583 (H1-2023: TSEK 2,940)
• Gross profit margin: 61.3% (H1-2023: 64.0%)
• Result after financial items: TSEK -16,631 (H1-2023: TSEK -4,283)
• Earnings per share: SEK -0.85 (H1-2023: -0.22)
• Cash flow from operating activities: TSEK -11,503 (H1-2023: TSEK -5,246)
• Equity: TSEK 52,309 (H1-2023: TSEK 72,844)
For more information about Realfiction Holding AB, please contact:
Clas Dyrholm, founder and CEO
Telephone: +45 25 22 32 81
Email: clas@realfiction.com
www.realfiction.com
Certified Adviser
Mangold Fondkommission AB is the company's Certified Adviser and can be contacted via ca@mangold.se or +46 8 503 015 50.
This information is information that Realfiction Holding is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-08-29 07:30 CEST.
About Realfiction Holding AB
Founded in Denmark in 2008, Realfiction is a provider of cutting-edge 3D display technologies designed for tomorrow's needs, featuring technological breakthroughs with its Directional Pixel Technology for LCD, OLED and microLED. These technologies support a wide range of use cases, including enhancing driving safety, medical imaging, immersive gaming and entertainment, digital signage, as well as applications in architecture, engineering, and design. The Company offers a comprehensive intellectual property portfolio tailored for OEMs and Tier-1 partners involved in developing and marketing displays for markets and industries requiring high-resolution multistereoscopic displays. All technologies are ready for licensing, and Realfiction is actively pursuing commercial licensing agreements and partnerships to pave the way to mass production. Realfiction's patent portfolio comprises 15 patent families with applications filed in multiple countries. Realfiction Holding AB's shares are publicly traded on Nasdaq Stockholm First North under the symbol "REALFI", with the share's ISIN code being SE0009920994.
