MFN News Items – Page 3

iZafe Group Q2 Interim Report, April-June 20234

iZafe Group AB (publ.) presents today, August 30, its report for the second quarter.

Financial Performance in Summary

Net sales for the quarter amounted to SEK 168 thousand (SEK 403 thousand). The decrease in sales during the quarter is primarily attributable to an adjustment of previously invoiced amounts from Q1. Approximately 5% of the units produced did not meet quality standards and have therefore been adjusted in this quarter, with invoicing planned for a later date. The quarter’s sales reflect revenue from the sale of the digital medication robot Dosell and the medical device Pilloxa.
The operating result (EBIT) for the quarter amounted to SEK -4,011 thousand (SEK -5,097 thousand).
The operating profit before depreciation (EBITDA) for the quarter amounted to -3,027 (-3,135) TSEK.
The result after financial items for the quarter amounted to -4,037 (-5,136) TSEK.
The period’s cash flow from operating activities amounted to -4,155 (-2,253) TSEK.
Earnings per share for the quarter before / after dilution amounted to -0.02 (-0.02) SEK.
Equity per share at the end of the period amounted to 0.1 (0.2) SEK.
The solidity at the end of the period amounted to 73.3 (82.4) percent.

Significant events during the quarter

The Board of Directors of iZafe Group has resolved on a directed issue of 25 million B shares, raising SEK 5 million for the company before transaction costs. Simultaneously, 25,053,288 warrants of series TO14B are being issued, which could raise an additional SEK 7.5 million upon full subscription. The funds will be used to expand the workforce, increase production volumes, and intensify sales and marketing efforts in existing and new markets.
iZafe Group’s partner, Zafe Care Systems AB, has won a contract with Kristianstad Municipality for the delivery of 150-190 Dosell units, with a total order value of approximately SEK 3.7-4.3 million. The agreement spans four years, from 2024 to 2028.

Significant events after the end of the quarter

iZafe Group AB has received a confirmed order for 500 Dosell units from its partner Ti medi, with planned delivery to Spain in August 2024. The Dosell units will be integrated into Ti medi’s new concept, which combines their pouch packaging machines with the Dosell medication robot to enhance patient medication adherence through pharmacies in Spain.
iZafe Group AB has decided to enter into a loan agreement of SEK 5.5 million with Exelity AB instead of proceeding with the previously planned warrant exercise, TO14B, due to high costs and financial uncertainty. The issued warrants will therefore be canceled. The loan will be used to increase production volumes and strengthen sales and marketing activities to drive sales in both existing and new markets.

Comments from CEO
Dear shareholders, customers, and employees,

Our journey to revolutionize healthcare through innovation and digitalization continues to yield concrete progress and positive results. During the second quarter, we have experienced the most accelerated demand for our products to date, further strengthening our market position.

We have recently produced 500 Dosell units, which have been invoiced to our partner in Spain. The delivery will take place at the end of August, and the revenue from this order will be recognized upon delivery. Our partner, Ti-Medi, plans to launch Dosell in Spain according to the previously communicated customer journey at the end of the third quarter, which means that we expect to see the first active Dosell units in the Spanish market and the associated revenues starting from the fourth quarter.

In the Swedish market, we are now witnessing a clear upswing during Q2. The demand for our solutions is increasing significantly, and we have already won a tender for 150 units in Kristianstad. Together with our existing projects with the Västra Götaland Region and other municipalities, we plan to begin the implementation of Dosell in 25 municipalities across Sweden in the coming quarter. This means that more organizations will benefit from our solution to ensure the right medication is administered at the right time.

Our expansion in the Netherlands continues to progress despite previous challenges. We experienced disruptions in our supplier’s network connectivity during the quarter, which affected the operation of the Dosell units. Our network provider has now resolved these issues, but we are working in parallel to switch to a new provider to ensure maximum operational reliability going forward. TCCN, our new dedicated partner in the Netherlands, has taken over the market’s previous contracts and is making a significant investment in Dosell by opening a dedicated office and developing a platform that integrates with Dosell for a unique packaging solution that has been very well received by customers. We have so far delivered over 1,000 units to the Netherlands and look forward to increasing our presence with more units this fall.

The new Dosell 3.0, which has now been produced and delivered in collaboration with our new production partner, marks an important milestone for us and future-proofs the market. During Q2, we secured the production of an additional 1,500 units, of which 500 are destined for Spain and 150 for Kristianstad. This enables us to quickly meet the growing demand in both the Dutch and Nordic markets.

To ensure that we can meet the increasing demand and continue our growth journey, we have also secured a loan of SEK 5.5 million. The decision to replace a planned warrant exercise with this loan ensures that we can focus on scaling up production and strengthening our recurring revenue, which is central to our long-term success.

We also look forward to launching the markets in Norway and Finland this fall, in collaboration with our partners there, who have now further dedicated their commitment to Dosell. This, together with our strong position in Sweden and the Netherlands, positions us for an exciting period with many new opportunities and expansions.

On October 1st, we welcome our new CFO, who will be a key player in our swift pursuit of profitability. With the increased sales we are now seeing, our goal is to achieve cash flow positivity as soon as possible.

I would like to conclude by thanking all our employees, partners, and shareholders for your continued support and commitment. Together, we are heading towards a bright future with continued strong growth and innovation in sight.

Thank you for being part of our journey.

Anders Segerström
Chief Executive Officer, iZafe Group

About iZafe Group AB (publ.)

iZafe Group is a Life Science company that conducts research, development and marketing of digital medical solutions and services for safer medication management at home.

The company leads the development of digital drug dispensing through the drug robot Dosell as well as the SaaS solution Pilloxa with the smart pillbox. The company's solutions reduce the risk of incorrect medication in the home, increase compliance, relieve public health care, increase the quality of life for patients and create a safer environment for relatives.

The customers consist of private individuals, pharmaceutical companies and public and private healthcare providers in Sweden, the Nordics and globally. iZafe Group primarily sells through well-established partners who already have long and deep customer relationships with the prioritized customer groups. The head office is in Stockholm.

iZafe Group AB has been listed on the Nasdaq First North Growth Market since 2018. Mangold Fondkommission AB is the company's Certified Adviser. Further information is available at www.izafegroup.com

Interim Report Q2 2024

Kvartalsrapport Bild Nyheter

iZafe Group secures loan of SEK 5.5 million and cancels previously issued warrants of series TO14B

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, BELARUS, HONGKONG, JAPAN, CANADA, NEW ZEALAND, RUSSIA, SWITZERLAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.

iZafe Group AB ("iZafe Group" or the "Company"), a company engaged in the research, development, and marketing of digital medical solutions and services for safer medication management at home, announce today that the Board of Directors of iZafe Group has decided to enter into a loan agreement of SEK 5.5 million (the "Loan") issued by Exelity AB (the "Lender"). The Loan has been secured because the board has determined that the issuance of the warrants of series TO14B (the "Warrants") would entail excessive administrative costs and financial uncertainty.

Background and rationale for the Loan
In connection with a directed issue conducted on April 9, 2024, the board of iZafe Group, with the authorization granted by the annual general meeting on May 16, 2023, decided to issue 25,053,288 warrants of series TO14B. These warrants were intended to be issued free of charge to the Company, which would then transfer them free of charge to the shareholders of the Company in proportion to the number of shares each shareholder owned on the record date for the warrant issue.

Since the decision was made, new information has been provided to the Company, revealing that the warrant issue would entail significantly higher costs than previously indicated. Given the financial uncertainty associated with the outcome of the warrants, the board of iZafe Group has decided that it is more advantageous for the Company to cancel the issued Warrants and instead secure the Loan.

iZafe Group's CEO, Anders Segerström, comments on the Loan: "Considering the new information we have received and the uncertainty that the warrant exercise would entail, we are convinced that the decision to replace the warrant exercise with this loan is the best solution for iZafe Group. This decision ensures the necessary financing to continue our growth journey and meet the increasing demand for our products. By scaling up production and strengthening our recurring revenue, which is at the core of our business model, we are creating significant value over time.

Our original ambition with the directed issue and the warrant exercise was to raise SEK 10 million, and although the conditions have changed, we have found a stable and sustainable solution with this loan. This will provide us with the financial stability and resources we need to increase sales and strengthen our recurring license revenue, which is crucial for achieving a cash flow-positive result."

Loan terms
The Loan amounts to SEK 5.5 million. The payment occurs upon signing of the loan agreement. The Loan matures for payment on June 30, 2025.
The Loan is subject to a set-up fee of 5.0 percent of the Loan amount and carries a monthly interest rate of 1.3 percent on the borrowed amount. Interest accrues from the payment until the loan amount and accrued interest are fully repaid. The Company has the option to repay the Loan before the maturity date without any redemption fee. The Lender has the right to convert the Loan into shares of the Company at any time during the term at a subscription price of SEK 0.24 per share. The board has assessed the loan terms as market competitive and considers taking the Loan to be in the best interest of both the Company and its shareholders.

Use of the Loan
The net proceeds from the Loan are intended to be used for the following purposes:

Ensuring larger production volumes
Sales and marketing activities to boost sales in existing and new markets

Advisor
Mangold Fondkommission AB is financial advisor to the Company in connection with the Loan.

Important information
The publication, disclosure, or distribution of this press release may be subject to restrictions under law in certain jurisdictions. Recipients of this press release in jurisdictions where it has been published, disclosed, or distributed should acquaint themselves with and comply with such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in their respective jurisdiction. This press release does not constitute an offer to, or an invitation to, acquire or subscribe for any securities in iZafe Group in any jurisdiction, either from the Company or any other entity.

This press release does not constitute an offer or invitation to acquire or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration or an applicable exemption from registration under the U.S. Securities Act of 1933 ("Securities Act"), and may not be offered or sold in the United States without being registered, exempt from registration, or in a transaction not subject to the registration requirements of the Securities Act. There is no intention to register any securities mentioned herein in the United States or to make a public offering of such securities in the United States. The information in this press release may not be published, disclosed, copied, reproduced, or distributed, directly or indirectly, in whole or in part, in or to the United Kingdom, the United States, Canada, Japan, Australia, Belarus, Hong Kong, New Zealand, Russia, Switzerland, Singapore, South Africa, South Korea, or any other jurisdiction where such publication, disclosure, or distribution of this information would violate applicable laws and regulations.

Within the European Economic Area, no offer is made to the public of securities in any country other than Sweden. In other member states of the European Union, such an offer can only be made in accordance with an exception in the Prospectus Regulation (EU) 2017/1129.

Forward-Looking statements
This press release contains certain forward-looking information that reflects the Company's current view of future events as well as financial and operational development. Words such as "intended", "assessed", "expected", "may", "plans", "believes", "estimates", and other expressions that imply indications or predictions about future development or trends, and which are not based on historical facts, constitute forward-looking information. Forward-looking information is by its nature associated with both known and unknown risks and uncertainty factors because it depends on future events and circumstances. Forward-looking information does not constitute any guarantee regarding future results or development, and the actual outcome may materially differ from what is stated in the forward-looking information.

About iZafe Group AB (publ.)

iZafe Group is a Life Science company that conducts research, development and marketing of digital medical solutions and services for safer medication management at home.

iZafe Group AB has been listed on the Nasdaq First North Growth Market since 2018. Mangold Fondkommission AB is the company's Certified Adviser. Further information is available at www.izafegroup.com

iZafe Group secures loan of SEK 5.5 million and cancels previously issued warrants of series TO14B

Business Partners 4

iZafe Group receives confirmed order of 500 Dosell units from Ti Medi

iZafe Group AB ("iZafe Group") today announces the receipt of an official order for 500 units of Dosell from Ti Medi, a dedicated partner of iZafe Group since April 2023. These units have recently been produced and will be delivered to Spain in August 2024, in time for Ti Medi's planned launch this fall of their new unique concept for the Spanish market.

Ti Medi, in collaboration with its 1400 pharmacies, will launch an innovative solution that combines their dose packaging machines with the Dosell medication robot. Pharmacies, which currently order dose packaging machines from Ti Medi, will now be able to offer consumers a complete solution where Dosell is delivered together with the dose bags produced by Ti Medi's machines. This integrated system will enable the consolidation of all data, allowing pharmacists to monitor patients' medication adherence in a new and efficient manner.

"We are delighted to collaborate with iZafe Group and to include Dosell in our new concept for the Spanish market. With this new customer journey, we can now combine our dose packaging machines with the Dosell medication dispenser, thereby offering our pharmacies a unique and comprehensive innovative solution that will improve patients' adherence to their medication," says Marc Tarruell Tibau, CEO of Ti Medi.

"After a year of dedicated work with Ti Medi, we are now seeing tangible results from our efforts to create a targeted customer journey for the Spanish market. This order demonstrates the high efficiency of our joint venture, and we are pleased that the Spanish market can now begin using Dosell. Our technology and capacity, combined with the simplicity of our solution, will make a real difference for both pharmacists and patients," says Anders Segerström, CEO of iZafe Group.

About iZafe Group AB (publ.)

iZafe Group is a Life Science company that conducts research, development and marketing of digital medical solutions and services for safer medication management at home.

iZafe Group AB has been listed on the Nasdaq First North Growth Market since 2018. Mangold Fondkommission AB is the company's Certified Adviser. Further information is available at www.izafegroup.com

iZafe Group receives confirmed order of 500 Dosell units from Ti Medi

Anders & Marc

iZafe Group presenterade på Aktiedagarna

iZafe Groups VD Anders Segerström presenterade bolaget på Aktiespararnas evenemang Aktiedagarna den 11 juni.

Presentationens höjdpunkter inkluderade:

Lansering av Dosell 3.0: En uppdaterad version med kraftfullare processor och nya funktioner för att förbättra medicineringshantering och patientföljsamhet.
Marknadsutveckling: Betydande framsteg på flera europeiska marknader inklusive Sverige, Nederländerna, Spanien och andra länder.
Affärstillväxt: Stark organisk tillväxt och en hållbar affärsmodell med fokus på att minska vårdkostnader och förbättra patientsäkerheten.

Presentationen kan du se här.
Du hittar även denna presentation samt tidigare presentationer här.

Om iZafe Group AB (publ.)

iZafe Group är ett Life Science bolag som bedriver forskning, utveckling och marknadsföring av digitala medicinska lösningar och tjänster för tryggare läkemedelshantering i hemmet.

Bolaget leder utvecklingen av digital läkemedelsdispensering genom läkemedelsroboten Dosell samt SaaS-lösningen och den uppkopplade dosettasken Pilloxa. Bolagets lösningar minskar risken för felmedicinering i hemmet, ökar följsamheten, avlastar den offentliga vården, ökar livskvaliteten för patienter samt skapar en tryggare miljö för anhöriga.

Kunderna utgörs av privatpersoner, läkemedelsbolag samt offentliga och privata vårdgivare i Sverige, Norden och globalt. iZafe Group säljer primärt via väletablerade partners som redan besitter långa och djupa kundrelationer med de prioriterade kundgrupperna. Huvudkontoret ligger i Stockholm.

iZafe Group AB är noterat på Nasdaq First North Growth Market sedan 2018. Mangold Fondkommission AB är bolagets Certified Adviser. Ytterligare information finns på www.izafegroup.com

iZafe Group presenterade på Aktiedagarna

Skärmavbild 2024 06 13 Kl 08 44 22

iZafe Group presents at Stora Aktiedagarna

iZafe Group (publ.) hereby announces that CEO Anders Segerström will present on Tuesday, June 11 at 11:45 AM at Stora Aktiedagarna in Stockholm.

On Tuesday, June 11 at 11:45 AM, iZafe will present its business at Stora Aktiedagarna in Stockholm. The address is Birger Jarlsgatan 61 A. The presentation will also be broadcast live and available afterwards on Aktiespararna's YouTube channel as well as on iZafe's website.

More information can be found via this link: https://www.aktiespararna.se/aktiviteter/aktiedagarna-i-stockholm-42149

About iZafe Group AB (publ.)

iZafe Group is a Life Science company that conducts research, development and marketing of digital medical solutions and services for safer medication management at home.

iZafe Group AB has been listed on the Nasdaq First North Growth Market since 2018. Mangold Fondkommission AB is the company's Certified Adviser. Further information is available at www.izafegroup.com

iZafe Group presents at Stora Aktiedagarna

Stora Aktiedagen 1

Kommuniké från årsstämma i iZafe Group AB

Årsstämman i iZafe Group AB, orgnr. 556762-3391, (”Bolaget”) ägde rum torsdagen den 30 maj 2024 på Bolagets kontor samt digitalt via Teams. Årsstämman beslutade, bland annat följande:

Fastställande av resultat- och balansräkning
Fastställande av resultat- och balansräkning för moderbolaget och koncernen för räkenskapsåret 2023.

Utdelning
Stämman beslutade att ingen utdelning lämnas och att årets resultat balanseras i ny räkning.

Styrelse och revisor
Stämman beviljade styrelseledamöterna och verkställande direktören ansvarsfrihet för räkenskapsåret 2023.

Stämman beslutade att styrelsen ska bestå av fyra ordinarie ledamöter utan suppleanter. Stämman beslutade om omval av styrelseledamöterna Göran Hermansson och Magnus Engman samt om nyval av Richard Wolff som ordinarie styrelseordförande och Jenny Styren till ordinarie styrelseledamot. Den auktoriserade revisorn Johan Kaijser omvaldes till Bolagets revisor för tiden intill slutet av nästa årsstämma.

Styrelse- och revisorsarvode
Stämman fastställde styrelsearvode med 114 600 kronor och ersättning till styrelseordförande med 171 900 kronor. Alla ersättningar som en styrelseledamot erhåller från Bolaget i enhetlig med godkända uppdragsavtal kan avräknas mot styrelsearvodet. Arvode till revisorn ska utgå enligt godkänd räkning.

Bemyndigande för styrelsen att fatta beslut om emission av aktier, teckningsoptioner och konvertibler
Stämman fastställde 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 eller emission av teckningsoptioner eller konvertibler ska ske till marknadsmässiga villkor och ska kunna ske med eller utan företrädesrätt för aktieägarna samt med eller utan bestämmelse om apport, kvittning eller andra villkor.

Om iZafe Group AB (publ.)

Kommuniké från årsstämma i iZafe Group AB

Affärer Partners

Partner to iZafe Group wins procurement of medication robots worth approximately 3.7-4.3 MSEK

iZafe Group AB ("iZafe Group") announces that their partner Zafe Care Systems AB ("Zafe") has been awarded a contract in a procurement process with Kristianstad Municipality for the provision of iZafe's medication dispensers Dosell. The procurement includes 150-190 units, with an estimated value of 3.7-4.3 MSEK. The contract is between Zafe and iZafe Group's wholly owned subsidiary Dosell AB.

The contract period extends over four years, from 2024 to 2028. The order value of 3.7-4.3 MSEK reflects the total value for Dosell and iZafe Group.

"It is an honor to collaborate with a leading player in automated medication dispensing. With Dosell, we can ensure that patients receive the right medication at the right time, reducing the risk of medication errors and increasing security for both patients and their relatives. Together with Sensorem, we can further enhance patient independence by reminding them to take their medication on time. Our technology creates independence and security, and we are proud to contribute to safer healthcare.

Zafe stands for down-to-earth and caring service, always with flexible solutions tailored to individual needs." says Per La Fleur, CEO of Zafe Care Systems.

About iZafe Group AB (publ.)

iZafe Group is a Life Science company that conducts research, development and marketing of digital medical solutions and services for safer medication management at home.

iZafe Group AB has been listed on the Nasdaq First North Growth Market since 2018. Mangold Fondkommission AB is the company's Certified Adviser. Further information is available at www.izafegroup.com

Partner to iZafe Group wins procurement of medication robots worth approximately 3.7-4.3 MSEK

Självständig Medicinering Hemtjänst

iZafe Group exhibits at Vitalis 2024 – The future of health and welfare technology.

iZafe Group AB ("iZafe Group"), in collaboration with Atea Sverige AB, is proud to announce their presence at Vitalis 2024, the Nordic region's leading venue for the future of health, care, and welfare. As part of Atea Sverige's extensive exhibition, iZafe Group will be showcased in Atea's booth. The fair will take place at the Swedish Exhibition & Congress Centre in Gothenburg from May 14 to May 16.

Vitalis is an arena where e-health, welfare technology, and innovation are in focus. It brings together leading industry players to exchange knowledge about challenges and solutions and to discuss how visions can be transformed into reality. As a prominent player in the healthcare technology field, iZafe Group will showcase its latest advancements and solutions, including the innovative medication robot, Dosell. Their presence at the fair also marks an important milestone following the procurement win to supply Dosell to the Västra Götaland Region (VGR). This underscores iZafe Group's commitment to enhancing the independence and safety of care recipients through advanced technology.

During Vitalis, the iZafe team looks forward to demonstrating how Dosell can play a crucial role in improving the quality of life for care recipients, facilitating healthcare personnel within municipalities, and streamlining medication management. This is part of the company's broader goal to deliver solutions that meet the high demands of today's healthcare and care landscape.

iZafe Group welcomes all visitors to booth B10:10, where the company’s team of experts will be available to discuss how iZafe’s products and services can help improve efficiency and quality in the healthcare sector. For more information about our presence at Vitalis and to register for the event, visit here.

About iZafe Group AB (publ.)

iZafe Group is a Life Science company that conducts research, development and marketing of digital medical solutions and services for safer medication management at home.

iZafe Group AB has been listed on the Nasdaq First North Growth Market since 2018. Mangold Fondkommission AB is the company's Certified Adviser. Further information is available at www.izafegroup.com

iZafe Group exhibits at Vitalis 2024 - The future of health and welfare technology.

Banner

iZafe Group AB har offentliggjort årsredovisning för 2023

iZafe Group AB (publ.) meddelar härmed att bolaget har offentliggjort sin årsredovisning för 2023.

Årsredovisningen bifogas samt finns tillgänglig på bolagets webbplats: https://izafe.se/investor-relations/#archive

Om iZafe Group AB (publ.)

Årsredovisning 2023 (1)

Business Partners 4

iZafe Group’s Quarterly Report January-March 2024

iZafe Group AB (publ.) presents today, April 26th, its report for the first quarter.

Financial Summary

The net revenue for the quarter amounted to 3,410 (228) TSEK, representing an organic growth approximately 15 times higher than the corresponding quarter of the previous year. The quarter's revenue consists of income related to the sale of the digital medication robot Dosell as well as sales of the medical technical aid Pilloxa. The increase in revenue is mainly attributed to hardware sales to the Dutch customer IVE Ventures.
Operating profit (EBIT) for the quarter amounted to -5,569 (-5,051) TSEK.
Operating profit before depreciation (EBITDA) for the quarter amounted to -4,588 (-2,969) TSEK.
Profit after financial items for the quarter amounted to -5,609 (-5,187) TSEK.
The period's cash flow from operating activities amounted to -4,109 (-4,203) TSEK.
Earnings per share for the quarter before / after dilution amounted to -0.02 (-0.02) SEK.
Equity per share at the end of the period amounted to 0.1 (0.2) SEK.
The solidity at the end of the period amounted to 67.5 (84.1) percent.

Significant Events During the Quarter

iZafe Group launched the latest version of Dosell on the market, version 3.0. In conjunction with this launch, iZafe Group has also initiated a strategic move of its production to Central Europe to be able to scale up production rates to larger volumes and shorten delivery times to existing partners. The first production series of 1,000 units of Dosell version 3.0 has been successfully completed and delivered for the Dutch market, marking the starting point for this new and improved version. With, among other things, a more powerful processor and expanded memory capacity, Dosell version 3.0 now enables a unified software platform regardless of geographical location or design of the medication pouch. This represents a significant improvement from previous versions that required extensive customization for each individual country and medication pouch type. Additionally, the new version of Dosell 3.0 introduces several advanced features, including voice and expanded connectivity options, further enhancing user experience and accessibility.

CEO Comment
Dear shareholders, customers, and employees,

Our journey towards innovation and digitization of healthcare continues to deliver tangible results. With pride, I can report that the net revenue for the quarter amounted to 3,410 TSEK, representing an organic growth nearly 15 times higher than the corresponding quarter of the previous year. Our business model, where our partners initially purchase the hardware which then generates recurring monthly revenues after distribution in the market, continues to demonstrate its value. These recurring revenues are the core of our business and are expected to create significant value over time.

Over the past two years, we have been engaged in developing a new, improved version of Dosell. This hardware is not only future-proofed but also designed to handle advanced features we plan to implement. Through partnerships with a prominent production partner, we have enabled scaling of production to meet ever-growing demand.

While switching production partners and developing new hardware, we also delivered 1,000 units to our partner in Holland, requiring extensive customization and rapid development. Despite these challenges, our small but dedicated team has managed to maintain a high level of production, reflecting our ability to act quickly and efficiently under pressure.

To date, we have completed over 150,000 successful dispensations, where the right medication has been delivered at the right time. The number of dispensations is expected to increase rapidly as we distribute more Dosell units.

We have also taken strategic steps to strengthen our market positions. After reassessing our partnerships, we terminated the exclusivity agreement with our partner in the UK and introduced stricter requirements for our existing and potential partners. These measures aim to ensure that we collaborate with the most committed and capable players, giving us the best possible conditions for success in the markets we enter. This raised standard for partnerships will strengthen our position and promote sustainable growth in both existing and new markets.

Our inventory capacity and access to components have significantly improved, thanks to capital injections from our major shareholders. This financial reinforcement is crucial to meet demand, accelerate deliveries, and strengthen our production team so that we can quickly adapt and develop Dosell for additional markets.

We have also commenced deliveries under the procurement we won with VGR, although the volumes are still small. We are actively working to increase awareness of Dosell and its prescription capabilities, supported by a new colleague dedicated to the VGR region.

The future looks bright with new partnerships and projects on the horizon. One of the most exciting initiatives is the launch of TI-medi's Savioo concept in Spain, where Dosell becomes a central part. TI-medi has also expanded its operations by acquiring the French organization for JVM, which includes 1,400 pharmacies in Spain, Portugal, and France using their medication packaging machines.

In conclusion, I would like to thank all our employees, partners, and shareholders for your continued support and trust. Together, we continue our journey towards innovation and growth.

Thank you for being an active part of our journey.

Anders Segerström,
Chief Executive Officer, iZafe Group

About iZafe Group AB (publ.)

iZafe Group is a Life Science company that conducts research, development and marketing of digital medical solutions and services for safer medication management at home.

iZafe Group AB has been listed on the Nasdaq First North Growth Market since 2018. Mangold Fondkommission AB is the company's Certified Adviser. Further information is available at www.izafegroup.com

Interim Report Q1 2024

Webcast Q1 2024

Kvartalsrapport Q1 2024