A quarter with new and strategically important customers and collaborations in the US
THIRD QUARTER 2021/22 (NOV–JAN)
· Net sales amounted to SEK 12.6 (10.9) million, which is an increase of 16.2% compared with the corresponding period last year.
· Operating profit/loss amounted to SEK 0.5 (1.3) million.
· Profit/loss after tax amounted to SEK 0.5 (0.3) million, which resulted in earnings per share of SEK 0.03 (0.02).
· Cash flow from operating activities amounted to SEK -9.3 (1.7) million. Liquid assets as of 31 January 2022 amounted to SEK 93.8 (9.4) million.
Significant events in the third quarter
· Integrum has been selected as a strategic partner for US Veterans Affairs (VA). This a strategic and long-term partnership for our work in establishing the OPRA[TM]
Implant System as a standard treatment.
· During the period, three new centres, two of which are in the US, performed their first OPRA[TM] Implant System operations. The treatment is now offered globally at about 40 centres.
· The company continue to invest in the business, and as a result of this there is an increased cost basis. The intensified market presence resulted in that the Sales and Marketing costs in the period contributed to 41% of total Other Expenses.
· The work on the transition to certification according to MDR continues, during the period costs of SEK 10.6 million were capitalized as intangible assets. The cost refers to external costs as well as internally earned time.
Nine months 2021/22 (1 May – 31 Jan)
· Net sales amounted to SEK 37.4 (30.7) million, an increase of 22% compared with the corresponding period in the previous year.
· Operating profit amounted to SEK 0.9 (0.0) million.
· Profit after tax amounted to SEK 16.4 (0.1) million, which resulted in earnings per share of SEK -0.05 (0.02).
· Cash flow from operating activities amounted to SEK -16.1 (-3.8) million.
Significant events in the period
· A directed issue was performed in mid-June and the company received a total of SEK 121 million before issue expenses. A number of Swedish and international institutional investors have been added through this issue, including Didner & Gerge Fonder, Stena Finans, Vasastaden Holding and Consensus Fonder.
· Costs of SEK 16.9 million have been capitalized as intangible assets, the costs are related to the ongoing transition from certification according to MDD (the former European regulations Medical Device Directive) to the more comprehensive MDR (Medical Device Regulation).read more