Continued focus on bigger ventures
FRISQ develops globally scalable digital tools for interactive communication between different players within the healthcare chain. Our products facilitate and streamline the work of healthcare professionals and give patients new opportunities to get involved in their own care.
Financial developments during the third quarter of 2019
- Total revenue for the quarter amounted to SEK 0.8 million (1.7) of which SEK 0.7 million (1.5) comprised net revenue.
- Earnings per share amounted to SEK -0.8 (-0.5)
- Cash flow amounted to SEK -17.6 million (-14.1)
- Cash and cash equivalents as of 30 September amounted to SEK 47.9 million (52.5)
Financial developments January – September 2019
- Total revenue for the period amounted to SEK 2.4 million (3.4) of which net revenue amounted to SEK 1.9 million (2.7)
- Earnings per share amounted to SEK -2.3 (-1.6)
- Cash flow amounted to SEK 6.0 million (10.0)
Significant events during the period
- Apoteksgruppen and FRISQ carried out a feasibility study into how pharmacies can provide support and follow up on the medication usage of COPD patients. This lead to the launch of a pilot project.
- Annika Muskantor was appointed CFO on 9 September
- During the year, the opportunities that have arisen through collaboration with some of the largest players in the Health Care sector, have required a temporary reallocation of resources and priorities. As a consequence, FRISQ has decided to defer the projected date for Swedish Operations to achieve break-even. The company remains committed to its long-term target of net revenue of SEK 225 million in the Nordic Region by 2022, but at present has chosen, for commercial reasons, not to announce a specified time for reaching break-even
Comments from the CEO
The first quarter of the year was one of our most productive and successful so far. Our external communications have been somewhat less intense over the course of the year – a natural consequence of high levels of internal activity in the form of ongoing implementations, key collaborations, a huge focus on sales and development of our software.
Over the course of the year, FRISQ has also had the opportunity to undertake its first measurable analyses of the effectiveness of FRISQ Care in actual operation, with early results indicating a high level of patient engagement. Together with the rest of the work we are pursuing, this has allowed FRISQ to further strengthen its position among Swedish healthcare providers, medical record systems and care information suppliers, which in turn has opened the door to interesting opportunities with other players at an earlier point than originally forecast.
In the USA, discussions with healthcare providers are continuing in accordance with our original plans. Finally, we are proud that we can now offer the healthcare sector a standardized and integrated product that both creates value and offers unique functionality.
Martin Irding, CEO FRISQ, Email: firstname.lastname@example.org
FRISQ Holding AB (publ)
Lästmakargatan 20, 111 44 Stockholm
Tel +46 (0)8 120 131 21