iZafe Group AB (publ.) meddelar härmed att bolaget har offentliggjort sin årsredovisning för 2024.
Årsredovisningen bifogas samt finns tillgänglig på bolagets webbplats: https://izafe.se/investor-relations/#archive
Archives: MFN News Items
Aktieägarna i iZafe Group AB, org.nr 556762–3391 (”iZafe” eller ”Bolaget”), kallas härmed till årsstämma den 28 maj 2025 kl. 14:00 på Bolagets lokaler på David Bagares Gata 3, Stockholm. Inregistrering inleds från klockan kl. 13:45.
RÄTT ATT DELTA OCH ANMÄLAN
Aktieägare som önskar delta på bolagsstämman ska
- dels vara införd i den av Euroclear Sweden AB förda aktieboken den 20 maj 2025,
- dels senast den 22 maj 2025 anmäla sig för deltagande på stämman hos Bolaget via e-post till eller per post till David bagares gata 3 BV, 111 38 Stockholm, ”Årsstämma”. Vid anmälan ska aktieägaren uppge namn, person- eller organisationsnummer, adress, och telefonnummer samt, i förekommande fall, uppgift om biträde (högst 2).
FÖRVALTARREGISTRERADE AKTIER
Aktieägare som har låtit förvaltarregistrera sina aktier måste låta registrera sina aktier i eget namn per avstämningsdagen den 20 maj 2025 för att ha rätt att delta vid årsstämman. Sådan registrering kan vara tillfällig (s.k. rösträttsregistrering) och begärs hos förvaltaren enligt förvaltarens rutiner. Rösträttsregistreringar som genomförts (dvs. är registrerade hos Euroclear Sweden AB) senast den 22 maj 2025 beaktas vid framställningen av aktieboken.
OMBUD
Aktieägare som företräds genom ombud ska utfärda skriftlig, av aktieägaren undertecknad och daterad fullmakt för ombudet. Fullmaktens giltighetstid får vara högst fem år om det särskilt anges. Anges ingen giltighetstid gäller fullmakten högst ett år. Om fullmakten utfärdas av juridisk person ska kopia av registreringsbevis eller motsvarande för den juridiska personen bifogas.
Fullmakten i original samt eventuellt registreringsbevis bör i god tid före stämman insändas per brev till Bolaget på ovan angiven adress. Fullmaktsformuläret finns tillgängligt på Bolagets webbplats (www.izafegroup.com) senast tre veckor innan stämman.
FÖRSLAG TILL DAGORDNING
- Stämmans öppnande
- Val av ordförande vid stämman
- Upprättande och godkännande av röstlängd
- Godkännande av dagordningen
- Val av en eller två justeringsmän
- Prövning av om stämman blivit behörigen sammankallad
- Föredragning av framlagd årsredovisning och revisionsberättelse samt koncernredovisning och koncernrevisionsberättelse
- Beslut om
a. om fastställande av resultaträkning och balansräkning samt koncernresultaträkning och koncernbalansräkning;
b. om dispositioner beträffande Bolagets vinst eller förlust enligt den fastställda balansräkningen;
c. om ansvarsfrihet åt styrelsens ledamöter och verkställande direktör
- Fastställande av antalet styrelseledamöter och revisorer samt suppleanter
- Fastställande av styrelse- och revisorsarvoden
- Val av styrelse och eventuella styrelsesuppleanter och revisorer och eventuella revisorssuppleanter
- Beslut om bemyndigande för styrelsen att fatta beslut om emission av aktier, teckningsoptioner och konvertibler
- Beslut om
- ändring av bolagsordningen; samt
- minskning av aktiekapitalet för avsättning till fritt eget kapital.
- Beslut om bemyndigande till styrelsen att vidta mindre justeringar av de på stämman fattade besluten
- Stämmans avslutande
FÖRSLAG TILL BESLUT
Punkt 2 – Val av ordförande vid stämman
Valberedningen föreslår att stämman väljer Richard Wolff till ordförande vid bolagsstämman eller, vid förhinder, sådan annan person som styrelsen anvisar.
Punkt 8b – Beslut om disposition beträffande Bolagets vinst eller förlust enligt den fastställda balansräkningen
Styrelsen föreslår att samtliga till årsstämmans förfogande stående medel överförs i ny räkning.
Punkt 9–11 – Val av styrelse och eventuella styrelsesuppleanter samt i förkommande fall revisorer och eventuella revisorssuppleanter, fastställande av styrelse- och revisorsarvoden, val av styrelse och eventuella styrelsesuppleanter samt revisor och eventuella revisorssuppleanter
Valberedningen föreslår följande:
- att styrelsen ska bestå av fyra ledamöter utan suppleanter. Antalet revisorer ska uppgå till en auktoriserad revisor utan suppleanter.
- att ersättning till vardera styrelseledamoten ska utgå med 117 600 kronor (motsvarande 2 prisbasbelopp) och ersättning till styrelseordförande med 176 400 kronor (motsvarande 3 prisbasbelopp). Alla ersättningar som en styrelseledamot erhåller från Bolaget i enlighet med godkända uppdragsavtal kan avräknas mot styrelsearvodet.
- att arvode till revisorn ska utgå enligt godkänd räkning.
- omval av Jenny Styren och Richard Wolff som ordinarie styrelseledamöter. Göran Hermanson och Magnus Engman har avböjt omval.
- nyval av Anna Håkansson och Samuel Danofsky till ordinarie styrelseledamöter.
- omval av Richard Wolff som styrelseordförande.
- omval av den auktoriserade revisorn Johan Kaijser på LR Revision och Redovisning Sverige AB för tiden intill slutet av årsstämman 2026.
Anna Håkansson
Anna har en mångårig och bred erfarenhet från offentlig sektor, bland annat som stadsdirektör, CFO och interimchef i flera stora organisationer. Hon har även haft uppdrag i flera pensionsstiftelser och styrelser, där hon kombinerat operativt och strategiskt ansvar. Anna är en nyfiken och resultatdriven ledare som brinner för utveckling och effektiv styrning.
Yrkeserfarenhet: Tf ekonomichef i Solna stad sedan 2023. Tidigare biträdande stadsdirektör i Stockholms stad samt stadsdirektör och CFO i Sundbybergs stad. Lång erfarenhet som finanschef i både privat och offentlig sektor.
Utbildning: Utbildad i redovisning vid Southern Illinois University, Carbondale. Styrelseutbildning från Styrelseakademien.
Annas omfattande bakgrund inom ekonomi, offentlig förvaltning och ledarskap gör henne till ett starkt tillskott i vår styrelse.
Samuel Danofsky
Samuel har lång erfarenhet inom kommunikation, politisk påverkan och opinionsbildning, särskilt inom hälso- och sjukvårdssektorn. Han har arbetat både operativt och strategiskt, såväl som rådgivare till regeringen och i ledande roller inom näringslivet. Med sin förmåga att bygga förtroende och driva komplexa kommunikationsfrågor är Samuel en värdefull förstärkning till styrelsen.
Yrkeserfarenhet: Kommunikationschef på Unilabs. Tidigare kommunikationschef på Kry samt senior rådgivare på JKL och Hallvarsson & Halvarsson. Har även varit politisk rådgivare i riksdagen och på Regeringskansliet.
Utbildning: Kandidatexamen i nationalekonomi och statsvetenskap från Uppsala universitet. Studier vid University of Michigan.
Samuels djupa förståelse för kommunikation, politik och vårdsektorns komplexitet gör honom väl rustad att bidra till vår strategiska utveckling.
Punkt 12 – Beslut om bemyndigande för styrelsen att fatta beslut om emission av aktier, teckningsoptioner och konvertibler
Styrelsen föreslår att årsstämman beslutar att bemyndiga styrelsen att – vid ett eller flera tillfällen och längst intill nästkommande årsstämma – besluta om att öka Bolagets aktiekapital genom nyemission av aktier samt att emittera teckningsoptioner och konvertibler motsvarande högst tjugo (20) procent av det totala antalet utestående aktier i Bolaget vid den tidpunkt då styrelsen första gången utnyttjar bemyndigandet.
Nyemission av aktier, liksom emission av teckningsoptioner och konvertibler, ska kunna ske med eller utan avvikelse från aktieägarnas företrädesrätt samt med eller utan bestämmelse om apport, kvittning eller andra villkor. Enligt 16 kap. aktiebolagslagen äger styrelsen inte med stöd av detta bemyndigande besluta om emissioner till styrelseledamöter i koncernen, anställda med flera.
Emission beslutad med stöd av bemyndigandet ska ske till marknadsmässiga villkor (varmed bland annat avses att marknadsmässig emissionsrabatt får lämnas) och betalning ska, förutom kontant betalning, kunna ske med apportegendom eller genom kvittning, eller eljest med villkor. Emission beslutad med stöd av bemyndigandet ska ske i syfte att tillföra Bolaget rörelsekapital, öka Bolagets finansiella flexibilitet och/eller att möjliggöra förvärv genom betalning med aktier. Om styrelsen beslutar om emission med avvikelse från aktieägarnas företrädesrätt ska skälet vara att tillföra Bolaget rörelsekapital på ett kostnads- och tidseffektivt sätt och/eller nya ägare av strategisk betydelse för Bolaget och/eller förvärv av andra företag eller verksamheter.
Punkt 13 – Beslut om (a) ändring av bolagsordningen samt (b) minskning av aktiekapitalet för avsättning till fritt eget kapital
Styrelsen föreslår att stämman beslutar om (a) ändring av gränserna för aktiekapitalet i bolagsordningen samt (b) minskning av Bolagets aktiekapital enligt nedan. Förslagen ska anses som ett förslag och därför antas av bolagsstämman som ett och samma beslut.
(a) Ändring av gränserna för aktiekapitalet i bolagsordningen
Styrelsen föreslår att bolagsstämman beslutar om ändring av gränserna för aktiekapitalet i bolagsordningens § 4 från ”lägst 50 000 000 kronor och högst 200 000 000 kronor” till ”lägst 15 000 000 kronor och högst 60 000 000 kronor”.
(b) Minskning av aktiekapitalet för avsättning till fritt eget kapital
Styrelsen föreslår att bolagsstämman beslutar om minskning av Bolagets aktiekapital, som för närvarande uppgår till 62 037 234,20 kronor, i enlighet med villkoren nedan:
- Ändamålet med minskningen är avsättning till fritt eget kapital.
- Bolagets aktiekapital ska minskas med 46 527 925,65 kronor.
- Minskningen ska genomföras utan indragning av aktier.
- Beslutet förutsätter ändring av bolagsordningen enligt punkt (a) ovan.
Styrelsen anser att ett lägre kvotvärde är mer ändamålsenligt för Bolagets aktiekapitalstruktur. Efter minskningen av aktiekapitalet kommer Bolagets aktiekapital att uppgå till 15 509 308,55 kronor, fördelat på sammanlagt 310 186 171 aktier, varav 600 000 A-aktier som ger rätt till tio (10) röster per aktie på bolagsstämma och 309 586 171 B-aktier som ger rätt till en (1) röst per aktie på bolagsstämma. Samtliga aktier kommer efter minskningen att ha ett kvotvärde om 0,05 kronor per aktie.
Beslutet om att minska Bolagets aktiekapital i enlighet med detta förslag kräver tillstånd från Bolagsverket eller allmän domstol.
Punkt 14 – Beslut om bemyndigande till styrelsen att vidta mindre justeringar av de på stämman fattade besluten
Styrelsen föreslår att stämman bemyndigar styrelsen, den verkställande direktören eller den styrelsen i övrigt förordnar att vidta sådana smärre justeringar och förtydliganden av de på stämman fattade besluten i den utsträckning detta är erforderligt för registrering av besluten.
ÖVRIGT
Majoritetskrav
För giltigt beslut enligt förslag till beslut enligt punkterna 12 och 13 krävs att det biträds av aktieägare med minst två tredjedelar (2/3) av såväl de avgivna rösterna som de aktier som är företrädda vid bolagsstämman.
Aktieägares rätt att begära upplysningar
Aktieägare har av styrelsen och den verkställande direktören rätt begära upplysningar enligt 7 kap. 32 § aktiebolagslagen avseende förhållanden som kan inverka på bedömningen av ett ärende på dagordningen eller som kan inverka på bedömningen av bolagets ekonomiska situation. Styrelsen och den verkställande direktören ska lämna ut sådana upplysningar om styrelsen anser att det kan ske utan väsentlig skada för Bolaget.
Handlingar
Kallelsen, styrelsens fullständiga förslag till beslut, fullmaktsformulär samt redovisningshandlingar och revisionsberättelse för år 2024 och övriga handlingar enligt aktiebolagslagen kommer hållas tillgängliga för aktieägare hos Bolaget tre veckor före stämman samt sändas kostnadsfritt till de aktieägare som begär det och uppger sin postadress. Handlingarna kommer också publiceras på Bolagets hemsida (www.izafegroup.com), senast samma dag.
Behandling av personuppgifter
För information om hur dina personuppgifter behandlas i samband med bolagsstämman, se integritetspolicyn på Euroclear AB:s webbplats,
www.euroclear.com/dam/ESw/Legal/Integritetspolicy-bolagsstammor-svenska.pdf.
Antal aktier och röster
Det totala antalet aktier i Bolaget uppgår per dagen för denna kallelse till 310 186 171, varav 600 000 A-aktier och 309 586 171 B-aktier. Det totala antalet röster i Bolaget uppgår till 315 586 171 röster där varje A-aktie berättigar till tio (10) röster och varje B-aktie berättigar till en (1) röst.
Stockholm i april 2025
iZafe Group AB
Styrelsen
iZafe Group AB (publ.) presents today, April 25th, its report for the first quarter.
Financial Performance in Summary
- Total net revenue for the quarter amounted to 1,318 TSEK (3,410), now primarily consisting of recurring license revenues. This contrasts with the same period last year, when revenue was mainly driven by hardware sales, which in turn enable the generation of these recurring license revenues.
- Operating result (EBIT) for the quarter amounted to -3,519 TSEK (-5,569).
- Operating result before depreciation and amortization (EBITDA) for the quarter amounted to -2,538 TSEK (-4,588), a clear improvement despite lower revenue compared to the same period last year. This reflects a more profitable revenue mix and increased operational efficiency.
- Result after financial items for the quarter amounted to -3,779 TSEK (-5,609).
- Cash flow from operating activities for the quarter amounted to -7,013 TSEK (-4,109).
- Earnings per share for the quarter before/after dilution amounted to -0.01 SEK (-0.02).
- Equity per share at the end of the period amounted to 0.04 SEK (0.08).
- The equity ratio at the end of the period was 53.2% (67.5%).
Significant events during the quarter
- iZafe Group has completed a directed share issue of approximately SEK 9.2 million through the issuance of 46.15 million B-shares at a subscription price of SEK 0.20 per share. The capital will be used to strengthen working capital, accelerate growth, and support the expansion of Dosell and Pilloxa into new markets.
- iZafe Group AB has initiated the sales of Dosell in Spain through its partnership with Ti-Medi. The product is launched under the Savioo Home brand and is now available through Ti-Medi’s network of over 1,500 pharmacies. Dosell enables automatic reminders and alerts in case of missed medication, improving adherence and safety for patients and their families. The launch marks an important milestone in iZafe Group’s international expansion.
- iZafe Group AB has entered into an agreement with Carnegie Investment Bank AB as its new Certified Adviser. Carnegie will assume the role on April 1, 2025, and until then, Mangold Fondkommission AB will continue to serve as the company’s Certified Adviser.
Significant events after the end of the quarter
- iZafe Group AB has continued to grow during the quarter with an increase in billable Dosell units and strong demand in Sweden, the Netherlands, and Spain. Three new municipalities have initiated operations, the partner TCCN is launching Dosell TV in the Netherlands, and over 50 pharmacies in Spain have joined the Savioo Home concept. The company is experiencing growing commercial momentum and is engaged in discussions with new partners for continued expansion.
Forecast
In this report, we present a forecast graph illustrating our expected growth in both ARR and active Dosell units over the coming years. The forecast is based on our current markets and key performance indicators, outlining a clear path toward an exponential increase in recurring revenue as more units become activated. By the end of 2024, our ARR reached approximately 1.7 MSEK, reflecting a 326% increase compared to the previous year.
In 2025, this growth is expected to accelerate further, with ARR projected to reach 10 MSEK by year-end, a 352% increase. Beyond that, ARR is expected to continue growing rapidly, more than eightfold by 2029, when we anticipate exceeding 85 MSEK. We will track this forecast on a quarterly basis to provide our shareholders with a clear view of our actual progress and how we are advancing toward our financial goals.
| 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | |
| ARR (MSEK) | 0.3 | 1.7 | 10 | 22.5 | 42.3 | 63.9 | 85.5 |
| Growth of Dosells | 0% | 467% | 488% | 125% | 88% | 51% | 34% |
Comments from the CEO
2025 has started strong for iZafe Group, and we are now entering the next phase of our growth journey. We can clearly see how previous deliveries of Dosell to our partners are now bearing fruit in the form of recurring license revenues – the most profitable part of our business model. Our focus on scalability, recurring revenues, and international expansion is beginning to show tangible financial results.
During the first quarter, the number of active Dosell units has continued to grow rapidly. It is now – as these units are activated and used daily – that we are realizing the value of the investments and deliveries made throughout 2024. Our ARR at the end of the quarter surpassed 3 MSEK, confirming that we are on track to meet our financial targets for the year. This development is fully in line with the growth forecast we presented in the previous quarterly report and clearly shows that our business model is scaling as expected.
The shift towards recurring revenues improves profitability
Even though net revenue in Q1 2025 (1.3 MSEK) is lower than the corresponding quarter last year, the result has improved significantly. This is thanks to a larger share of revenues now being license-based with high margins – a direct effect of the increased activation rate among our partners. Operating profit improved by more than 2 MSEK compared to Q1 2024, providing clear evidence that our strategy is working.
We have now established a recurring revenue model that is scalable, predictable, and profitable. As more Dosell units are activated, revenues grow without a corresponding increase in the cost base – a powerful shift that lays the foundation for cash flow positivity and long-term profitability.
Momentum across multiple markets
During Q1, we have continued to increase our presence and demand in our key markets:
– Sweden: We have now launched Dosell in 14 new municipalities so far this year, with several more in the pipeline. An increasing number of municipalities are moving from pilot projects to full implementation, demonstrating that we have found the right fit in both product and offering. Demand is driven by safety, simplicity, and increased efficiency in home care services.
– Netherlands: Our partner TCCN has reported continued strong activation rates, including 72 units delivered to their customer MobileCare during March. The launch of Dosell TV and exposure at trade fairs are creating additional momentum. The Netherlands is now a mature growth market for us.
– Spain: Our Spanish partner Ti-Medi has officially launched Dosell as part of its Savioo platform. Over 50 pharmacies have already joined the concept. This gives us access to a rapidly growing market with a high proportion of dose pouch users and strong demand for digital solutions.
Strengthened liquidity after the end of the quarter
At the end of the quarter, cash and cash equivalents amounted to approximately 0.7 MSEK, reflecting the investments we have made to accelerate our expansion. However, it is important to highlight that half of the previously communicated directed share issue of approximately 9.2 MSEK was received by the company in April. This means that our cash position has been significantly strengthened after the period, creating better conditions to continue executing our growth plan.
Focus on real impact – and what truly matters
We now have strong momentum in the business, with the number of Dosell units loaded with medication and dispensing daily increasing month by month. This development forms the foundation for both our long-term growth and the societal benefit we aim to deliver.
Our most important key metric is not simply how many units we have sold or are billing licenses for, but how many times we have ensured correct medication. So far, we have surpassed over 400,000 doses dispensed at the right time – each dose representing a moment of safety for the user, reduced strain on healthcare providers, and improved adherence.
A new phase – moving full speed ahead
In a short time, we have established a product that is in demand, a scalable business model, and a clear growth strategy. During the quarter, we have further improved the product with a new software version, maintained our cost focus, and strengthened our customer relationships. The momentum we now see – both in actual usage and business development – is clear evidence that something has shifted.
In parallel, we continue to engage in discussions with new potential partners, both in existing and new markets, with the aim of expanding our presence and reaching more patients through the right local collaborations.
We are entering a breakthrough year where the focus is on continuing to scale, streamline operations, and create value – for our users, partners, society, and our shareholders.
Thank you to all employees, partners, and shareholders who make this journey possible.
Anders Segerström
Chief Executive Officer, iZafe Group
After an increase of billable Dosell units by 25% in January and an additional 9% in February, the number rose by another 12% in March. This is a clear indication that our strategy is working and that demand for our solution continues to grow.
At the same time, it’s important to emphasize that we are still in an early stage. Growth is occurring from relatively low levels, but the pace is exceptional. During the first quarter of 2025, we activated as many units delivering medication daily as we had over the entire first five years since the original version of Dosell was developed – a significant milestone.
Our business model now shows clear scalability, with more active Dosell units generating a growing stream of recurring revenue. We are entering a commercial breakthrough phase with record-high momentum, fueled by demand from both municipalities and international partners.
Sweden: More municipalities onboard – focus on long-term expansion
In March, three new municipalities began using Dosell. We also signed a direct procurement agreement with a municipality that, after completing a pilot, decided to fully transition to Dosell from a previously used solution. They highlight its simplicity, reliability, and the fact that doses are not locked if missed – giving both users greater independence and care services increased flexibility in scheduling.
Another municipality has launched a pilot under our structured “municipal package,” and we have several ongoing tenders within home care and LSS (disability services). Every week, we receive new inquiries – a clear signal of a shifting market where scalable, modern solutions are increasingly in demand.
At the same time, it is important to point out that volumes per municipality are still relatively low. Our focus moving forward is to support each municipality in identifying more users, increasing usage, and maximizing societal benefit. As the population ages, care must scale – and with digital tools like Dosell, we can ensure safe and high-quality care for more people without overburdening resources.
The Netherlands: Strong customer onboarding and launch of Dosell TV
In the Netherlands, we continue to meet our growth forecast. Our partner TCCN reports that their largest customer, MobileCare, delivered an additional 72 units in March. Interest is growing steadily, with more organizations joining the system each week.
In April, TCCN is launching the first broadcast of Dosell TV – a new platform to share knowledge, inspire, and support new organizations in getting started. It is a concrete step towards scaling implementation and building a vibrant user and partner community. In parallel, TCCN is also exhibiting Dosell at a major trade fair in the Netherlands in April – a key opportunity to reach new customers and further strengthen our market position.
Spain: Pharmacy network and strong role in Savioo Home
The launch of Dosell in Spain through the Savioo Home concept is now underway. Our partner has attended several trade fairs in Barcelona and France, where Dosell was presented as a central component for ensuring proper medication adherence at home.
Over 50 pharmacies have already expressed interest in adopting the concept and will soon receive promotional materials for in-store and window displays. This is only the beginning – these 50 pharmacies are the first wave in a network of 1,500 that our partner is actively working with. The ambition is high, and we see a serious, long-term effort that lays the foundation for success.
Expansion: Engaging new markets and new partners
We are currently in active discussions with new potential partners, both in existing and new geographies. Interest is coming from both public and private sectors, all recognizing the need for digital medication management. Our strategy remains clear: grow with the right partners – those with the drive and ability to scale.
To Our Shareholders – Why We Believe in Our Direction
iZafe Group is stronger than ever. We have a highly demanded solution, a growing customer network, and a proven business model. At the same time, we remain humble about the fact that we are still in a building phase – but something has clearly shifted.
We’ve set a new pace in the market, delivering more active units in one quarter than in our first five years combined – and this is just the beginning. With the momentum we’re experiencing, combined with our long-term strategy, our belief is stronger than ever: Dosell has the potential to become a cornerstone in the future of medication management.
Thank you for following our journey – and for your continued trust.
iZafe Group AB (publ) announces today that the company is changing its Certified Adviser from Mangold Fondkommission AB to Carnegie Investment Bank AB (publ).
iZafe Group AB has entered into an agreement with Carnegie Investment Bank AB regarding the role as Certified Adviser. Carnegie Investment Bank AB will assume the role of Certified Adviser on April 1, 2025. Until then, Mangold Fondkommission AB will continue to act as the company's Certified Adviser.
iZafe Groups VD Anders Segerström presenterade bolaget på Aktiespararnas evenemang Stora Aktiedagarna. Under presentationen lyfte Anders Segerström fram bolagets starka framtidsutsikter, med en prognos som visar att de årliga återkommande intäkterna (ARR) förväntas öka från 0,3 MSEK 2023 till 85,5 MSEK 2029.
Presentationens höjdpunkter inkluderade:
- Framtidsprognos: iZafe Group visar på stark organisk tillväxt och har etablerat en hållbar affärsmodell med fokus på att minska vårdkostnader och förbättra patientsäkerheten. Prognosen visar att bolagets årliga återkommande intäkter (ARR) förväntas öka enligt följande:
- 2023: 0,3 MSEK
- 2024: 1,7 MSEK (+326%)
- 2025: 10 MSEK (+352%)
- 2026: 22,5 MSEK (+125%)
- 2027: 42,3 MSEK (+69%)
- 2028: 63,9 MSEK (+41%)
- 2029: 85,5 MSEK (+29%)
- Lansering av Dosell 3.0: En uppgraderad version av bolagets medicindispenser med en kraftfullare processor och nya funktioner för att ytterligare förbättra medicineringshantering och patientföljsamhet. Denna uppgradering syftar till att stödja såväl vårdpersonal som patienter genom en effektivare och säkrare lösning.
- Marknadsutveckling: Betydande framsteg har gjorts på flera europeiska marknader, inklusive Sverige, Nederländerna och Spanien. iZafe Group arbetar aktivt med att expandera sin närvaro och etablera starka partnerskap för att möta det ökande behovet av lösningar för medicineringshantering.
Presentationens innehåll och strategiska insikter visar iZafe Groups engagemang i att driva innovation och tillväxt inom hälso- och sjukvårdssektorn.
Du kan se presentationen i sin helhet här.
February was an intense and forward-looking month for iZafe Group. We continue to accelerate our growth and strengthen our market presence through strategic partnerships and expansion in multiple key markets. Despite seasonal variations, the number of active Dosell units increased by 9%, demonstrating continued strong demand and stable user growth. Spain successfully launched Dosell, while in Sweden, we rapidly expanded with new municipalities implementing our solution. At the same time, our establishment in the Netherlands progressed, and we look forward to further sales growth through upcoming trade fairs in both Spain and the Netherlands.
Spain: Official Launch and Initial Market Activities
After an intensive preparation phase, we have now officially launched Dosell in Spain! Spain has one of the largest healthcare markets in Europe, with over 22,000 pharmacies and an aging population driving demand for digital medication management solutions. This presents significant growth potential and an opportunity to establish Dosell as a leading solution in the market.
Our partner Ti-Medi has initiated marketing efforts by introducing the Savioo platform to all of its 1,500 pharmacies via email and through direct visits to pharmacies in multiple cities, including Barcelona, Girona, Lleida, Granollers, and Madrid. They currently produce dose sachets for 200,000 users, highlighting the significant potential for Dosell in the Spanish market.
To further strengthen our presence, we plan to gain media exposure in the near future, which will open new doors and increase awareness of Dosell in Spain. At the same time, Ti-Medi will be showcasing the Savioo concept along with Dosell at a major trade fair in Barcelona this March, providing additional visibility and opportunities to reach more industry players.
Sweden: Four New Municipalities in Operation and More on the Way
We launched Dosell in four new municipalities in February, while also conducting training sessions for two additional municipalities that plan to implement Dosell in March. Additionally, six new municipalities have expressed interest in adopting Dosell, with four of them already scheduling startup meetings in March and planning to activate their first units in April.
This represents a faster growth rate in terms of the number of municipalities than initially planned. Despite the positive development, we recognize that some challenges remain, particularly regarding the speed of implementation and initial volumes. While we have successfully introduced Dosell in multiple new municipalities in Sweden, the initial deployment is still relatively small-scale. To enhance scalability, we are focusing on improving training efforts for healthcare staff and simplifying the ordering process. However, municipalities plan to increase the number of units over time, reinforcing our strategy and our partners’ efforts to scale up Dosell’s implementation across Sweden.
Some of the feedback we have received from users and staff:
- User: “I don’t have to think anymore! Finally, I get my medication at the right time, and when it lights up and beeps, I know it's time to take it.”
- Healthcare Staff: “If a user hasn’t taken their medication, a simple phone call is enough to follow up—we don’t have to make a home visit.”
- Healthcare Staff: “We chose Dosell as our medication dispenser because it is so simple and fits perfectly with all our municipality’s needs.”
The Netherlands: Stable Growth and Expanding Pipeline
Our market in the Netherlands continues to develop positively, with steadily increasing demand. Our partner's pipeline of new customers is growing, and we anticipate a high activation rate of Dosell units throughout the spring. Their investment in Dosell continues to yield results and is creating a stable platform for future expansion.
Additionally, our partner will be showcasing Dosell at a major trade fair in the Netherlands in April, which we believe will drive an even greater increase in sales.
We recommend following our partner’s journey in the Netherlands through their LinkedIn page, TCCN, for the latest updates and market developments.
Expansion and New Partnerships
Throughout February, we engaged in several exciting discussions with potential new partners in emerging markets. Moving forward, our strategy is to select partners with the best conditions for scaling Dosell on a larger scale. It is crucial to collaborate with organizations that understand how to implement digital technology and manage the necessary transformation processes required for successfully adopting Dosell.
We look forward to continued positive development in March and to building on the strong foundation we have established for our growth. We appreciate your engagement and look forward to sharing more progress in the upcoming updates!
iZafe Group's board member, Magnus Engman, acquired 200,000 B-shares in the company on February 26, at a total value of 52,459 SEK (0.262 SEK per share).
The acquisition is a clear signal of Magnus long-term confidence in iZafe's strategy and future potential. His total holding now amounts to 200,000 B-shares.
"I see great potential in iZafe's continued development and want to demonstrate my commitment by investing in the company. We have a clear growth strategy, and I am convinced that we are creating long-term value for our shareholders," says Magnus Engman.
iZafe Group AB ("iZafe Group") proudly announces the sales launch of Dosell in Spain through a strategic partnership with Ti-Medi, a leading player in pharmaceutical technology in Southern Europe. The launch and commercialization of Dosell, under the brand name Savioo Home, mark a significant milestone in the effort to enhance medication adherence and improve the quality of life for patients with chronic diseases.
Dosell has already established itself as an effective solution in countries such as Sweden and the Netherlands, helping users take the right medication at the right time. Through the partnership with Ti-Medi, Dosell will now be available to the Spanish market, integrating with Ti-Medi’s existing network of over 1,500 pharmacies that utilize their packaging technology for pre-dosed medications.
With Dosell, patients using Savioo Home will receive reminders to take their medication, and if they fail to do so on time, an automatic SMS alert will be sent to relatives or caregivers. This feature ensures a higher level of safety and security for both patients and their loved ones.
A Strategic Partnership for the Future
"We see tremendous potential in the Spanish market and are proud to launch Dosell through our collaboration with Ti-Medi. This is an important step in our international growth journey and our ambition to become a global leader in medication adherence," says Anders Segerström, CEO of iZafe Group.
"At Ti-Medi, we strive to provide technological solutions that simplify patients’ lives and optimize the work of healthcare professionals. Savioo Home not only automates medication management at home but also enhances security for patients, relatives, and pharmacists. This enables more precise monitoring and better adherence to treatment. We believe that the future of healthcare lies in digitalization and tools that increase safety, convenience, and trust – and Savioo Home is a major step in that direction," Says Rafa Tibau, Pharmacist and Co-founder of Ti-Medi
About Ti-Medi
Ti-Medi is a pioneer in pharmaceutical technology in Southern Europe, serving more than 1,500 pharmacies with advanced packaging and dosing solutions. The company’s mission is to enhance medication adherence and make healthcare more accessible and efficient. Read more at ti-medi.com
For more information about Savioo Home and how it can improve medication adherence and patient safety, visit the website savioo.com
iZafe Group AB (publ.) presents today, February 14, its report for the fourth quarter.
Financial Performance in Summary
- Total revenue for the quarter amounted to 2,751 (1,052) TSEK, more than doubling compared to the same period last year. The increase is primarily driven by hardware sales to the Netherlands, which is expected to generate recurring revenue in 2025 as the market establishes itself and implementation progresses.
- Operating result (EBIT) for the quarter amounted to -5,697 (-20,475) TSEK
- Operating result before depreciation and amortization (EBITDA) for the quarter amounted to -4,714 (-3,386) TSEK.
- Result after financial items for the quarter amounted to -5,908 (-20,389) TSEK.
- Cash flow from operating activities for the quarter amounted to -178 (-1,946) TSEK.
- Earnings per share for the quarter before/after dilution amounted to -0.02 (-0.06) SEK.
- Equity per share at the end of the period amounted to 0.04 (0.09) SEK.
- The solidity at the end of the period amounted to 40.1 (73.2) percent.
Significant events during the quarter
- iZafe Group AB launched Dosell in Spain in collaboration with Ti Medi. At an event in Granada, Dosell was presented to Ti Medi’s network of 1,400 pharmacies. The launch marks a significant milestone, making Dosell commercially available in Spain, with the first units expected to be in use soon. The partnership aims to improve medication management and patient adherence.
- iZafe Group received an order for 1,000 Dosell units from its Dutch distributor TCCN, valued at approximately 3,000 TSEK. Deliveries will take place in two phases during 2024 and 2025, with expected recurring revenue of up to 400 TSEK per month. The order strengthens iZafe’s revenue model and reinforces Dosell’s position in the Dutch market.
- iZafe Group has certified Dosell for integration with Enovation UMO, a leading healthcare platform in 18 countries. The certification enhances Dosell’s market position, facilitates easier implementation in the Netherlands, and opens opportunities for expansion into additional markets.
Significant events after the end of the quarter
- iZafe Group has conducted a directed share issue of approximately 9.2 MSEK through the issuance of 46.15 million B-shares at a subscription price of 0.20 SEK per share. The capital will be used to strengthen working capital, accelerate growth, and support the expansion of Dosell and Pilloxa into new markets.
- iZafe Group has started 2025 strong, with a 25% increase in billable Dosell units, approaching 1,000 active devices. Growth is driven by rising demand in Sweden, Norway, and the Netherlands, while the launch in Spain is planned for February. Product improvements and the recently completed 9.2 MSEK share issue further strengthen the company’s growth and goal of achieving cash flow positivity.
Forecast
In this report, we present a forecast graph illustrating our expected growth in both ARR and active Dosell units over the coming years. The forecast is based on our current markets and key performance indicators, outlining a clear path toward an exponential increase in recurring revenue as more units become activated. By the end of 2024, our ARR reached approximately 1.7 MSEK, reflecting a 326% increase compared to the previous year.
In 2025, this growth is expected to accelerate further, with ARR projected to reach 10 MSEK by year-end, a 352% increase. Beyond that, ARR is expected to continue growing rapidly, more than eightfold by 2029, when we anticipate exceeding 85 MSEK. We will track this forecast on a quarterly basis to provide our shareholders with a clear view of our actual progress and how we are advancing toward our financial goals.
| 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | |
| ARR (MSEK) | 0.3 | 1.7 | 10 | 22.5 | 42.3 | 63.9 | 85.5 |
| Growth of Dosells | 0% | 467% | 488% | 125% | 88% | 51% | 34% |
Comments from the CEO
2024 has been a pivotal year for iZafe Group. We have transitioned from developing our product and establishing market conditions to now generating tangible financial results. With a 437% increase in revenue compared to 2023, we see a clear growth trend driven by rising demand for our solutions. Our business model is beginning to demonstrate its strength through recurring revenue, and we have surpassed 2 million SEK in ARR. Our goal for the year is to reach our milestone of 10 million SEK in ARR.
Throughout the year, we have sold 2,500 Dosell units, with growth primarily driven by hardware sales to the Netherlands. Although hardware margins are low, this provides a strategic foundation for future profitability. The true value-creation phase occurs when the units are activated and start generating high-margin recurring license revenue, directly boosting our ARR. We are now approaching an important milestone of 1,000 active dispensing units, which strengthens the stability of our product and business model while contributing to an increasing stream of recurring revenue.
In this report, we present a forecast graph illustrating our expected growth in both ARR and the number of active Dosell units over the coming years. The forecast is based on our current markets and key performance indicators, outlining a clear path toward an exponential increase in recurring revenue as more units become activated. By the end of 2024, our ARR reached approximately 1.7 MSEK, reflecting a 326% increase compared to the previous year.
In 2025, this growth is expected to accelerate further, with ARR projected to reach 10 MSEK by year-end, a 352% increase. Beyond that, ARR is expected to continue growing rapidly, more than eightfold by 2029, when we anticipate exceeding 85 MSEK. We will track this forecast on a quarterly basis to provide our shareholders with a clear view of our actual progress and how we are advancing toward our financial goals.
However, it is important to understand that there is a time lag between ordering hardware and when the units start generating recurring revenue. The production and delivery process must be managed, partners need to be trained, and they must ensure full control over the implementation process. Additionally, customer satisfaction is crucial for achieving stable, long-term growth.
This is particularly relevant when entering new markets and establishing new partnerships. We have already passed this phase in the Netherlands and Sweden, while Spain and Norway are expected to do so during the spring. Spain is set for a launch in February, with Norway expected to follow shortly after. These markets represent a significant opportunity to further increase our ARR and strengthen our position in digital medication management. Beyond this, we aim to expand into additional new markets to continue our growth journey.
Market Potential for Dosell
Dosell operates within an existing and growing market—individuals who receive their medication pre-packaged in dose pouches. For Dosell to be implemented in a new market, an established dose pouch infrastructure is required, where Dosell integrates at the final stage of the process to digitize healthcare and enhance medication safety. The markets we currently operate in have a stable and expanding dose pouch market, and forecasts indicate that this trend will continue as more countries recognize the benefits of this distribution method.
The global trend is clear—the dose pouch market is steadily growing across Europe and the U.S., becoming increasingly standardized as a safe and efficient way to distribute medication. By adapting Dosell to different types of dose pouches, particularly in the Netherlands, we have developed a unique, flexible, and scalable solution that enables faster entry into new markets while significantly lowering the barriers to expansion.
With a significantly reduced time-to-market, we can now implement Dosell much faster, having eliminated technical barriers. Adaptations to new markets now primarily focus on optimizing customer journeys and meeting local regulatory requirements.
To illustrate our market potential, we present an estimate of the number of patients currently receiving their medication in dose pouches across our focus markets:
- Sweden: 300,000 patients
- Norway: 150,000 patients
- Netherlands: 600,000 patients
- Spain: 200,000 patients at Ti Medi, with an annual growth rate of 10%
With an established presence in these markets and proven demand, we see significant opportunities to continue scaling Dosell internationally and strengthening our position as a leading player in digitalized medication management.
Enhanced Investor Relations and Shareholder Communication
We have intensified our investor relations communication to provide shareholders and investors with a more transparent and continuous insight into our growth journey. Through our monthly newsletter, we regularly share updates on our progress, strategic initiatives, and market expansion, fostering a closer dialogue with our stakeholders.
The directed share issue of 9.2 MSEK provides the foundation to accelerate growth by increasing the activation of Dosell units and expanding into new markets. At the same time, we continue to focus on strict cost control and operational efficiency, aiming to achieve cash flow positivity and build a long-term profitable business.
Future Prospects
We have built a robust and sustainable business model, where our products, partnerships, and market strategies work together to drive long-term profitable growth. In 2025, our focus is to:
- Increase ARR by boosting the activation rate of already sold units and accelerating implementation on existing markets.
- Establish and expand strategic partnerships in both new and existing markets to drive growth.
- Maximize recurring revenue by optimizing our business model and adding value-enhancing services for existing Dosell units.
- Strengthen collaborations with municipalities and healthcare providers to reinforce our market position and ensure stable, predictable growth.
We see a clear path forward, where the expansion and scaling of our license model will continue to fuel our growth. With an increasing ARR and a more stable revenue structure, we anticipate strong momentum in healthcare digitalization through automated medication management. We firmly believe that Dosell has the potential to capture a significant share of this market and establish itself as a leading solution in digital medication management.
The foundation is in place, and we are now entering a growth phase, where our focus is on scalability and operational efficiency.
I would like to conclude by expressing my gratitude to our amazing employees, partners, and shareholders for your dedication and support. It is because of you that we can continue to revolutionize medication management on a global scale.
Thank you for being part of our journey.
Anders Segerström
Chief Executive Officer, iZafe Group
