STOCKHOLM, SE / ACCESSWIRE / November 01, 2024 / iZafe Group (STO:IZAFE-B) iZafe Group AB (publ.) presents today, November 1, its report for the third quarter.
Financial Performance in Summary
Total revenue for the quarter amounted to 2,434 (927) TSEK, an organic growth approximately 2.5 times higher than the corresponding quarter of the previous year.
The operating result (EBIT) for the quarter amounted to -4,148 (-5,012) TSEK.
The operating profit before depreciation (EBITDA) for the quarter amounted to -3,166 (-3,159) TSEK.
The result after financial items for the quarter amounted to -4,955 (-5,004) TSEK.
The period’s cash flow from operating activities amounted to -2,913 (-2,854) 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 58.0 (82.9) percent.
Significant events during the quarter
iZafe Group AB received an order for 500 Dosell units from its partner Ti Medi. This order is part of Ti Medi’s launch of a new concept, where Dosell is integrated with their dose-packaging machines to offer pharmacies a complete solution that improves patient medication adherence.
iZafe Group AB entered into a loan agreement for 5.5 MSEK with Exelity AB, which replaces the previous TO14B series warrants that were canceled due to high costs and uncertainty. The loan will be used to increase production volumes and intensify sales and marketing efforts, supporting the company’s long-term growth strategy.
iZafe Group AB has entered a three-party collaboration with Zafe Care Systems AB and Sensorem AB. The partnership combines Dosell with Sensorem’s safety alarms to enhance independence and safety in medication management, even outside the home, strengthening both freedom and quality of care in the healthcare sector.
iZafe Group AB has entered a partnership with Randstad in Norway to streamline the implementation of Dosell in Norwegian municipalities. Through Randstad’s presence and expertise in staffing, sustainable implementation and improved medication management are ensured, potentially leading to cost savings in healthcare.
Significant events after the end of 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. This launch marks an important milestone and signifies that Dosell is now commercially available in Spain, with the first units to be in use shortly. The collaboration aims to improve medication management and adherence among patients.
Comments from CEO
It is with great pleasure that I can state that we are in a very exciting and expansive phase. Our growth journey has truly gained momentum, and we are seeing clear results from our efforts to revolutionize healthcare through innovation and digitalization. The number of active units has increased by 29% compared to the previous quarter, and we have now delivered approximately 2,000 Dosell units to our partners. Our mission to digitalize healthcare and ensure the right medicine at the right time is starting to take shape in earnest.
Spain – A New Market with Great Potential
Earlier this year, we received an order for 500 Dosell units from our partner Ti Medi, and I am proud to announce that Ti Medi has now launched our innovative solution in the Spanish market. Together with Ti Medi and their 1,400 pharmacies, we are offering a unique solution that combines their dose-packaging machines with our medication robot, Dosell. This is a groundbreaking offering that will change how pharmacists monitor patient medication adherence, leading to better healthcare. This launch is our first major venture outside Sweden targeting the consumer market, and next year, we look forward to extending this offering to the healthcare sector as well.
New Phase – Clearer Forecasts and Increased Insight into Growth Potential
We are now entering a new and very important phase for iZafe Group. For the first time, we can forecast our growth based on actual key metrics, showing how the number of active Dosell units increases each month. This means that, starting from the next quarterly report, we will be able to present clear and credible forecasts that give you, our existing shareholders, and potential new investors, an even better understanding of the company’s future potential. This is an important milestone for us and something that will further strengthen our position moving forward.
More Markets and Continued Growth
Our expansion is not limited to Spain. We have seen strong demand from both Swedish municipalities and our international markets. The Netherlands and Sweden have continued to deliver steady growth, and we expect Norway and Finland to follow suit during the final quarter. Our business model is based on active units with recurring revenue, and we are working diligently to ensure that we can meet increasing demand and create steady growth month by month.
At the same time, our total revenue has tripled compared to the first three quarters of last year, further confirming the positive development.
Strategic Partnerships and Innovation
We have also taken an important step forward with our strategic three-party collaboration with Zafe Care Systems and Sensorem. Together, we offer a holistic solution for increased independence and security in medical care. Through the integration of Sensorem’s safety alarms with Dosell, we can ensure that users are reminded to take their medicine even when they are far from home, creating a safer daily life for those who rely on continuous medication. This is a strong symbol of our vision to create solutions that not only streamline healthcare but also give users greater freedom and security in their everyday lives.
Opportunities for the Future
We now look forward to further strengthening our presence, with more Dosell units being implemented in municipalities and healthcare institutions across Europe. Particularly exciting is our expansion in Norway, where we have entered into a partnership with Randstad to ensure an efficient and successful implementation of our solutions. We are confident that this partnership will help us ensure high quality in the transformation process and that our solutions reach as many users as possible.
Thanks to increased sales, strong partnerships, and innovative solutions, we are now facing a bright future with continued growth and opportunities. I would like to extend my heartfelt thanks to all our employees, partners, and shareholders for your commitment and support – together, we are making a real difference.
Thank you for being part of our 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 2024-11-01 08:30 CET.
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Attachments
Interim Report Q3 2024
CEO-interview
SOURCE: iZafe Group
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