The CEO comments on Q3 2024:
Q3 was a very good quarter. We are seeing the return on the investments we've made over the past 18 months in our five key strategic initiatives. These investments will shape Irisity into a company which can become profitable, and which produces positive cash flows from operating activities.
Additional quarterly highlights included:
- Highest Quarterly Net Sales for 2024.
- Q3 YoY Invoicing +11% & Collection +53%.
- R&D and service personnel costs optimizations will save 25 MSEK in 2025.
- Monthly Recurring Revenue was flat QoQ at MSEK 4.3.
Key figures Q3 2024:
- Invoicing amounted to MSEK 35.4 (31.8).
- Net sales MSEK 30.3 (32.3).
- Gross margin 85.2%, (82.4%).
- EBITDA MSEK -14.3 (1.4)
- Result after tax MSEK -45.5 (-32.1)
- Cash and cash equivalents at the end of the period MSEK 6.8 (4.8)
- MRR at the end of the quarter amounted to MSEK 4.3 (4.3) Q/Q
The 2024 Q3 report is available at www.irisity.com
For further information:
Keven Marier, Irisity CEO Anna Forsberg, Irisity interim CFO
Phone: +46 771 41 11 00 Phone: +46 709 10 81 08
E-mail: keven.marier@irisity.com E-mail: anna.forsberg@irisity.com
This information is information that Irisity AB (publ) is obliged to make public according to the EU's market abuse regulation. The information was submitted for publication, through the above contact persons, at 08:00 CET on 04 November 2024.
About Irisity AB (publ):
Irisity's AI Open Platform enhances any camera and video management system by integrating advanced AI and video metadata management. Trusted in over 3,000 locations globally, Irisity's platform augments human decisions to improve safety, operational efficiency and organizational intelligence.
The Irisity AB (publ) share is listed on Nasdaq First North Growth Market, with the ticker IRIS, the Company's Certified Adviser is Carnegie Investment Bank AB (publ)
Sweden | USA | Israel | Singapore | UAE | Colombia | Brazil | Argentina | Australia | United Kingdom | Mexico | Hungary
