STOCKHOLM, Aug. 14, 2019 /PRNewswire/ --
April to June 2019
- Order Intake increased to 22.8 MSEK (7.6) and Order Backlog to
50.7 MSEK (28.4)
- Net Sales totalling 12.6 MSEK (11.4)
- Gross Margin up to 60% (46%)
- Adjusted EBITDA -27.7 MSEK (-23.5)
- Non-recurring expenses of -2.3 MSEK, related to the reverse
takeover in February
- Earnings per share -2.0 SEK
January to June 2019
- Order Intake increased to 39.6 MSEK (27.8) and Order Backlog to
50.7 MSEK (28.4)
- Net Sales for the half 25.3 MSEK (23.8)
- Gross Margin up to 55% (51%)
- Adjusted EBITDA -55.3 MSEK (-44.4)
- Non-recurring expenses in connection with the reverse takeover
in February totalling -28.5 MSEK
- Earnings per share -4.7 SEK
Events
- Signed several new customers in a number of verticals including
Telecommunications, Automotive, Finance & Banking, United
States Government, Retail and Information Technology
- Increased and extended contractual relationships with several
long-standing accounts
- Swisscom signed as new Partner to address the Swiss market
- Positive initial response in market following launch of Teneo
Fusion and Teneo Developers in previous quarter as
it facilitates business scalability
- A directed share issue raised 65.7 MSEK which was closed in the
quarter and registered in July
2019
Key figures
CEO STATEMENT
I am pleased to report that one of our most important
key indicators to show our progress, Order Intake, has
shown strong growth this quarter. The total committed value
of contracts signed in the quarter grew by 200% compared to
the same quarter last year. This means that Order Intake for
the year to date already is 72% of the full year 2018, and we
still have 6 months to go. Order Backlog, the value of
customers contractual commitments yet to be taken to revenue,
grew by 79%, compared to same quarter 2018. These
increases are encouraging for the future, and I believe they
reflect the growing confidence in the Teneo platform. There is
a higher concentration of longer term agreements than
seen previously, and these focus on our more profitable
License and Usage Revenue streams.
I am also pleased to note the continuation of some
other trends in our business; the increasing value and
percentage of Usage Revenues, more than doubling to 3.1 MSEK
in the quarter and growing by 55% to 4.5 MSEK in the first
half of the year. The increasing percentage of revenues
delivered through our Partners, 34% compared to 25% in the
quarter last year is also in line with our strategy.
As we transform the mix of revenue elements towards
the more profitable license and usage, the overall Gross
Margin continues to increase from 51% to 55% in this half of
the year with the quarter performance itself of 60%.
Positive progress with customers and partners
During the quarter we have continued to sign
new-name accounts both directly and with our Partners. Further
we have new agreements with a number of new Partners and I
was particularly pleased to be able to announce a new
Partnership with Switzerland's leading telecoms company,
Swisscom, who plan to create advanced Conversational AI
solutions for its employees, customers and enterprise
clients. Once again, these new customers represent a
crosssection of industries, ranging from a North European
Motor manufacturer to a major US Government agency and
global software and services vendor. Many of these new
customers have established centres of excellence and will
perform much of the implementation themselves. These centres
have a broad remit with specific market expertise who are
looking to source and build solutions to roll out across the
group themselves. I am happy about this transition as it
underpins our overall strategy of being able to deliver
projects via third parties whilst we can focus more upon the
more profitable License and Usage revenues.
Successful launch of Teneo Fusion
Last Quarter I reported upon the release of Teneo
Fusion and I am delighted to report that this new release has
been extremely well received by our customers and prospects,
our partners and in the extended community of developers
and Systems Integrators who build out conversational
solutions. I have seen direct evidence that the easy access to
the power of the Teneo platform is shortening sales cycles. We
have continued to enhance Teneo Fusion, adding a number of
new languages and building out functionality and will continue
to do so.
New funding secured
A directed share issue raising a total of 65.7 MSEK
before transaction costs was carried out in the quarter. We
will use the funds raised to cover operating deficit and
provide funding for future growth of Artificial
Solutions. I would like to take this opportunity to thank both
new and older shareholders for your continued support and I
look forward to sharing our progress with you.
This information is such that Artificial Solutions
International 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 person set out
below, at 07.30 CET on August 14,
2019.
Artificial Solutions International is listed on Nasdaq First
North in Stockholm with short name
ASAI. Erik Penser Bank is the Company's Certified Adviser
(www.penser.se, tfn 08-463 83 00,
e-post certifiedadviser@penser.se).
For more information:
Lawrence Flynn,
CEO,
Artificial Solutions
Tel: +44 (0)1635-523267
Email: lawrence.flynn@artificial-solutions.com
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Earnings release Q2 -
Artificial Solutions
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https://news.cision.com/artificial-solutions-international-ab/i/key-figures-q2,c2665087
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Key figures
Q2
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SOURCE Artificial Solutions International AB