Financial summary fourth quarter 2019
- Reported net revenue was 0.03 MSEK (2.6)
- Net revenue for the quarter was 0.53 MSEK
- Reclassification of EU financed commercially based
projects to Other Income was 0.5 MSEK.
- Other revenue amounted to 0.6 MSEK (0.4)
- Earnings per share amounted to -0.9 SEK (-0.7)
- Cash-flow amounted to -21.0 MSEK (-10.6)
- Cash and cash equivalent on December 31, was 26.7 MSEK (41.7)
Financial summary full year 2019
- Reported net revenue was 1.9 MSEK (5.2)
- Other revenue amounted to 1.2 MSEK (1.1)
- Commercially based EU-financed projects were 1.1 MSEK (1.1)
- Earnings per share amounted to -3.2 SEK (-2.2)
- Cash-flow amounted to -15 MSEK (-0.6)
CEO Martin Irding comments the year and the fourth quarter
2019 has been the year when FRISQ transformed from a development company, with one-off revenues based on proofof-concept, to a commercial company with recurring licensebased revenues. All the while FRISQ has also participated in time consuming tender negotiations with large future revenue potentials.
A new sale organization was put in place during the second half of the year, and several new license-based agreements were signed during the fall. Throughout the year, the use of FRISQ Care has delivered very high patient engagement metrics and efficiency gains for healthcare professionals.
Several important contracts, with long term potential, were signed during the last quarter including e.g., Capio’s “Elderly and Mobile Care” division and Cereb. Capio is one of Europe’s leading healthcare companies, and the largest private caregiver in Sweden. Cereb is a rapidly expanding psychiatric caregiver with operations across Sweden.
We have, in other words, worked har during the year and laid the foundation that will begin to bear fruit in 2020. We now look forward to increasing sales, at the same time as we scale up our effort with improving efficiency and quality of care through increased patient engagement, simplified administration and increased connectivity of primary and in hospital care. A much needed transformation that is sought after in Sweden as well as internationally. Martin Irding, VD FRISQ
Important events during the fourth quarter
- Agreement signed with:
- Capio – Elderly and Mobile Care Division; Sale of standard product
- Cereb; Sale of standard product
- KI – Study for colorectal cancer rehabilitation
- Johan Zetterström, with a background as e.g., Head of Nordic operations at Salesforce recruited as Head of Sales
Important events after the reporting period
- FRISQ announces the intent to conduct a fully guaranteed rights issue of approximately 64.6 MSEK
- Extra General Meeting to be held on January 30, 2020
- Letter of Intent to enter into a standard licensing agreement signed with Dartmouth-Hitchcock Medical Center
Important events during precious quarters
- Agreement signed with:
- Ryggkirurgiskt Centrum; sale of standard product
- KI; support in clinical prostate study
- Apoteksgruppen; pilot
- The National Board of Health and Welfare highlighted FRISQ as a project to learn from
- The Alliance for Innovative Care was established
- Direct share issue of 67 MSEK was conducted in March
- US operations initiated
- Collaborative opportunities with potential for large future profits were prioritized leading FRISQ to postpone break-even
Upcoming financial reports
Publication dates for interim and full year reports for 2020:
First quarter report to be published on Maj 7, 2020
Second quarter report to be published on August 27, 2020
Third quarter report to be published on November 12, 2020
Full year report to be published on February 25, 2021
Extraordinary General Meeting: January 30, 2020 in Stockholm
Annual General Meeting: March 26, 2020 in Stockholm.
No dividend to shareholders is proposed. A proposal for dividends will not be presented until the company delivers sustainable profit.
This information is such that FRISQ Holding AB (publ) is obligated to disclose pursuant to the EU Market Abuse Regulation. The information was published, through the agency of the contact persons mentioned below, on 27 January 2020, at 08:00 a.m.
Lästmakargatan 20, 111 44 Stockholm
Tel +46 (0)8 120 131 21
FNCA Sweden AB is FRISQ:s Certified Adviser
Tel +46 (0)8 528 00 399