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2021-11-10 08:00:00

Irisity AB (publ) delivers a third quarter with continued strong growth.


The CEO comments on the third quarter:

Net sales during the period amounted to SEK 17.2 million (7.0) and capitalized work SEK 3.5 million (2.5). EBITDA SEK 1.1 million (-3.2) and profit after tax SEK -2.4 million (-6.5). The gross margin was 59.1 percent (48.4). Cash and cash equivalents at the end of the period SEK 163.4 million (25.8).

We report the last quarter before the acquisition of Agent Vi with a strong sales development within all customer segments. Net sales increased by 146 percent and monthly recurring revenue (MRR) by 40 percent on a quarterly basis. Gross margin, EBITDA and cash position are following plan during our strong growth phase.

The roll-out pace together with our partners, including security- and camera companies, has significantly increased and is expected to further accelerate in the coming periods.

Delivering cutting edge algorithms on an ever-growing market, we continue building our capacity within all business functions. In addition to the elderly care and railway segments, both of which have been well received in the market, we also target several new customer verticals.

On October 13[th] the acquisition of Agent Vi was formally closed, we are now one company with a powerful springboard to continued growth.

Marcus Bäcklund

Summary of the third quarter 2021:
  • Net sales SEK 17.2 million (7.0).
  • Capitalized work SEK 3.5 million (2.5).
  • Gross margin 59.1 percent (48.4).
  • Operating profit (EBITDA) SEK 1.1 million (-3.2).
  • Profit after tax SEK -2.4 million (-6.5).
  • Cash and cash equivalents at the end of the period SEK 163.4 million (25.8).
  • MRR at the end of the quarter SEK 4.2 million (3.0) Q/Q.

The company's calendar for 2022 is stated in the quarterly report which is available at www.irisity.com

For further information:

Marcus Bäcklund, Irisity CEO                                                                    Andreas Höye, Irisity CFO

Phone: +46 771 41 11 00                                                                            Phone: +46 769 01 34 51

E-mail: marcus.backlund@irisity.com                                                E-mail: andreas.hoye@irisity.com

This information is information that Irisity AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 CET on 10 November 2021.

This disclosure contains information that Irisity AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on at 08:00 CET on 10 November 2021.



About Irisity

Irisity is a leading provider of AI-powered video analytics solutions. We develop deep learning-based algorithms upgrading security cameras into intelligent detection devices, while safeguarding personal integrity.

Irisity's patented solution IRIS™ can be integrated into any new or existing camera infrastructure, installed directly into the camera, on server or in the cloud, to safeguarding people and assets. IRIS™ detects a wide range of unwanted behaviors and events including, intrusions, flames, violence, falls, loitering, unattended objects, wrong directional movement, breaches of social distancing regulations, as well as unusual situations. IRIS™ product portfolio includes solutions on asset protection, traffic management, and forensic search capabilities for a broad spectrum of industries such as safe cities, education, transportation, infrastructure, and the security industry. All IRIS™ functionality is available with our patented real-time anonymization, ensuring GDPR and US NDA act compliance and ethical safeguarding.

Irisity currently serve customers in more than 90 countries and has offices in Sweden, USA, Singapore, UAE and Israel, and operates through a network of resellers, partners, security companies, and camera manufacturers globally.

The Irisity AB (publ) share is listed on Nasdaq First North Growth Market, with the ticker IRIS

Certified Adviser: Erik Penser Bank AB · +46 8 463 83 00 ·  certifiedadviser@penser.se


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