Irisity

CORRECTION: Q2 increase of 110% year over year in customer invoicing

The CEO comments on Q2 2024:

In Q2 and with the investments made in previous quarters into our sales and marketing organization we are seeing very strong YoY increase in invoicing with existing customer support contract renewals and large project sales

With the closing of the Ultinous Zrt acquisition, we leap forward in our plans to grow our software sales thru enabling Irisity’s AI solutions, products and services with generative AI capabilities. Additional quarterly highlights included:

• Irisity AB (publ) Awarded USA Airport Project Expansion. This initial award is valued at approximately 6 Million SEK over a five-year period starting Q2 of 2024.
• Ultinous makes positive Q2 sales impact and signs second OEM agreement
• Irisity prepared for Q3 generative AI software launch
• We expect to continue making progress in streamlining group operations and expect to lower personnel and operating cost over the coming quarters as previous stated by 5-10%.

CORRECTION: The result after tax has been corrected and is -40.7 for Q2 instead of -43.7. Additionally, minor differences were identified between the English and Swedish report versions and have now been corrected. The revised versions have been published on the website.

Key figures Q2 2024:

• Invoicing amounted to 39.3 MSEK (18.7).
• Net sales MSEK 25.8 (30.2).
• Gross margin 75.2%, (83.9%).
• EBITDA MSEK -11.4 (0.3)
• CORRECTION Result after tax MSEK -40.7 (-28.6)
• Cash and cash equivalents at the end of the period MSEK 26.5 (10.9)
• MRR at the end of the quarter amounted to MSEK 4.3 (4.5) Q/Q

The 2024 Q2 report is available at www.irisity.com
 

  
For further information:

Keven Marier, Irisity CEO                                    Anna Forsberg, Irisity interim CFO

Phone: +46 771 41 11 00                                    Phone: +46 709 10 81 08

E-mail: keven.marier@irisity.com   E-mail: anna.forsberg@irisity.com

The information was submitted for publication, through the above contact persons, at 16:35 CET on 16 August 2024.

About Irisity AB (publ):

Irisity's AI Open Platform enhances any camera and video management system by integrating advanced AI and video metadata management. Trusted in over 3,000 locations globally, Irisity's platform augments human decisions to improve safety, operational efficiency and organizational intelligence.

The Irisity AB (publ) share is listed on Nasdaq First North Growth Market, with the ticker IRIS, the Company’s Certified Adviser is Carnegie Investment Bank AB (publ)

Sweden | USA | Israel | Singapore | UAE | Colombia | Brazil | Argentina | Australia | United Kingdom | Mexico | Hungary