iZafe Group AB (publ.) – today Febuary 18, releases its Q4 Interim Report.
Summary of financial performance
- Net sales for the quarter amounted to SEK 220 (84) thousand. The quarter's sales consist of revenues attributable to the sale of the digital medication robot Dosell.
- Operating profit for the quarter amounted to SEK -12,750 (-9,128) thousand.
- Profit after financial items for the quarter amounted to -12 943 (-9 127) TSEK.
- Cash flow for the period amounted to SEK 17,264 (-6,270) thousand. The positive cash flow for the comparison period is a result of the rights issue that has been carried out.
- Earnings per share for the quarter before / after dilution amounted to SEK -0.2 (-0.3).
- Equity per share at the end of the period amounted to SEK 0.6 (0.9).
- The equity / assets ratio at the end of the period was 84.1 (84.0) percent.
Important events in the quarter
- The first delivery of Dosell Consumer was sent to Apoteket AB on October 4 before the start of sales.
- Deputy Chairman of the Board Göran Hermansson and CEO Anders Segerström together subscribe for an additional 458,000 units in the rights issue.
- The final outcome of the rights issue of units, consisting of shares and warrants of series TO10 B has been announced. The rights issue has been subscribed for to a total of 100 per cent, where approximately 43.6 per cent were subscribed for with the support of unit rights, approximately 4.1 per cent were subscribed for without the support of unit rights and approximately 52.3 per cent were subscribed for by issue guarantors.
- iZafe has filed several completions of its PCT patent application. In this way, the Company enabled a geographically broader patent protection, which is part of iZafe's strategy to strengthen and further develop its intangible assets internationally.
- Launch of Dosell Consumer as an end product of the Italian healthcare service Sempli Farma began.
- iZafe communicated that the price for the consumer version of Dosell is SEK 299 per month. This after the customer has bought the hardware for SEK 499 at apoteket.se
- Commercial new launch of Dosell together with Hepro AS in Norway.
- iZafe uses Mangold Fondkommission AB as a liquidity guarantor.
- The first medical robots adapted for the Italian consumer market were sent to Sempli Farma in Italy for the pilot project.
Comments from the CEO
We have now raised enough capital to, for the first time ever, have enough liquidity to set a long-term and sustainable plan for the company. With all the new changes to the medication robot, we have now also got all of our partners to approve the new Dosell.
This has meant that during the fourth quarter we increased production significantly and produced at a higher rate than ever to meet market demand. We end the year with an increase in sales compared to the previous quarter, a clear indication that we have now started selling and that the market sees the value in our product. The difference from before is that we have done the preparatory work that was required, and we have thus created the conditions for us to now really enter an active sales phase.
We have now launched Europe's first consumer version of a medication robot. We have also been able to deliver the right medicine at the right time over 3,000 times to consumers in Sweden and have established ourselves in a country outside the Nordic region.
Our major marketing investment on the consumer side will begin at the end of February and the beginning of March with TV advertising in a number of channels and a number of other marketing activities and exciting collaborations. We are now working intensively to support our partners by increasing the sales rate and that everyone keeps a high focus on Dosell.
A sub-strategy so far has been to wait to enter new markets until existing partners are up and running and have fully approved our product. As this has now been achieved, we will shortly begin the work of prioritizing in a well-balanced way which new markets the company will begin to enter, with both existing partners and new ones. We already have several interesting tracks in new partners and markets, and we look forward to starting sales work there as well. Dosell is the basis of our strategy where we must ensure "the right medication at the right time" and with the help of this also be able to demonstrate the health effects in order to create a healthier, safer and more sustainable way for everyone to medicate.
In conclusion, it is positive to note that the pandemic is increasingly releasing its grip on society and business. For the company, this meant that more meetings could take place between colleagues, customers and partners during the quarter. We are now also working more proactively to have more digital meetings and digital e-training. I am enthusiastic about the progress we have made during the year and now we have initiated sales and marketing activities according to the plan we set. We still have a lot to do, and thanks to what we achieved in the last quarter of 2021, we now have the opportunity to accelerate significantly. We have now laid the basic conditions for becoming the obvious choice of digital aid to enable a healthier, safer and more independent life for the millions of people who multi-medicate in Sweden and the world.