STOCKHOLM, SWEDEN / ACCESSWIRE / November 17, 2023 / iZafe Group (STO:IZAFE-B) iZafe Group AB (publ.) today presents its report for the third quarter on November 17.
Financial Highlights Summary
Key Events During the Quarter
Key Events After the End of the Quarter
CEO’s Comment
We look back on a quarter where our business plan and strategy have yielded results in both growth and successful major procurement, marking a significant milestone. An increase in net revenue by a staggering 583 percent compared to the same quarter the previous year, even considering a lower revenue base, is a clear indication of the positive trend we have established. This is the outcome of our dedication to refining our business model while maintaining a cost-effective structure.
Despite increased revenue, we have preserved our modest size, underscoring our determination to optimize every investment and talent within our team. This has been and will continue to be a central component of our ambition to avoid additional external capital and to maintain a cash flow that is both stable and proportionate to our growing income.
On the international stage, we have achieved significant progress, especially in Holland, where the implementation of the first 100 units of our product has been met with enthusiastic reception. It is a strong testament to the quality of our product and the customer journey our partner has crafted. This success is crucial as it forms the cornerstone of our ability to deliver at scale.
In Sweden, we have taken a significant step forward by winning a comprehensive procurement with the Västra Götaland Region, covering 47 municipalities. We are preparing to sign the contract in the coming days, a step that confirms our company’s growing influence and trust within the sector.
It is particularly heartening to see increasing interest from municipalities seeking effective and user-friendly alternatives to the more complicated and costly solutions they have used in the past. Our offering, Dosell, is at the forefront of this demand, and we are enthusiastic about more and more people recognizing its value.
With a plan for larger deliveries in both the Swedish and Dutch markets and expectations of other regions increasing their demand in the coming year, we stand on the threshold of a period of expansion. These prospects reinforce our focus on providing our partners and customers with unparalleled service and support.
Regarding Pilloxa, successfully integrated into our group over the past year, I am pleased to report significant progress. Our ongoing collaboration with the German pharmaceutical company Chiesi has paid off, with their team expressing deep satisfaction with our solution. Their positive view of our technology and its potential to change the lives of patients with rare diseases is a powerful affirmation of our work. Together, we strive to expand Pilloxa’s applications, aiming to broaden our impact across a wider spectrum of diseases and geographic markets.
Interest in both our service and the innovative pillbox is overwhelming, and we have received numerous inquiries that we are eager to address. We are carefully planning the next steps, with continuous improvements and adjustments to refine our service before launching it on a full scale. This work aligns with our overarching vision to contribute to a healthier future with the right medication at the right time, every time. It is with great satisfaction that I see Pilloxa’s offering not only complement but also reinforce our core vision of improving patients’ health and quality of life.
We close the year 2023 with strong and growing demand for our product, as well as a firm belief that our strategic direction and operational excellence will continue to bear fruit. I want to express my deepest gratitude to our board and employees for their tireless work and to our shareholders for their unwavering trust and support.
Thank you for being part of this exciting journey.
Anders Segerström
Chief Executive Officer, iZafe Group
Contacts
Anders Segerström, Chief Executive Officer
E-mail: anders.segerstrom@izafegroup.com
Phone number: +46 70-875 14 12
iZafe Group AB (publ.)
David Bagares gata 3
111 38 Stockholm
E-mail: ir@izafegroup.com
www.izafegroup.com
eucaps.com/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
This information is information that iZafe Group 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 2023-11-17 08:30 CET.
Image Attachments
Attachments
Interim Report IZafe Group Q3 2023
Intervju Q3 2023 iZafe Group
SOURCE: iZafe Group
View source version on accesswire.com:
https://www.accesswire.com/804882/izafe-groups-quarterly-report-q3-july-september-2023
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