Interim Report January - March 2021
January 1 - March 31 2021
· Net Sales SEK 0
· Operation profit SEK -2 212 647
· Profit after financial items SEK -2 212 647
· Earnings per share SEK -0,10
· Numbers of shares 21 907 369
Significant events during the report period (2021-01-01 - 2021-03-31)
· Raytelligence is listed on the Stuttgart Stock Exchange, Germany
· Becomes partner in the PICTA project Autumn Leaves for improved case detection in close care
Significant events after the report period
· New release of EaZense
· Raytelligence signs agreements with resellers Milcross MedTech AB and NorthMerge AB
· Raytelligence recieves an initial order från Careteq, Australia who are active in-home health care
and the intention is to integrate EaZense into their offering
Comments from CEO
The beginning of 2021 has really been marked by feverish activity on Raytelligence.
Great focus is on sales and we have ongoing discussions with several of the most forward-leaning municipalities within digital health Sweden. Our sales pipeline has grown 10 times as large during the quarter and we have a much better presenceon the market now. Both customers, partners and competitors are now very aware of our progress.We had already expected a number of orders from the municipalities, but unfortunately the process is more time consuming, so we also have added sales resources in real estate and industry where we received several inquiries. An agreement with Careteq (www.caretech.com), Australia has been signed to integrate EaZense into their offering to their customers, EaZense is part of a larger procurement in Australia. Careteq has the exclusive right to sell EaZense for 36 months in Australia and New Zealand. In addition, the right to market / sell the system also in the USA. We expect revenue with this agreement in the end of this year.
On the development side, we have released a new interface with lots of updates in the cloud service, new services have also implemented in EaZense.Among other things, we have added functions such as being able to detect up to five people in a room and that case detection has been further developed.Work has also begun with an offline solution for the prison service and other activities where you do not want an Internet connection system, this feature will be completed during the summer.
We are now developing a function in Eazense that makes the sensor uniquely sensitive. This will lead to us being alone market with features such as heart rate measurement and measurement of very small movements. As we are now in full swing to develop vital parameter detection in our system, we have decided to add that functionality directly in the next generation EaZense, there are several good reasons for this.
The main reason is that we have developed EaZense in a direction that will allow it to be much more sensitive.This means that we have a new specification of hardware and software. When we have completed this, the sensor will be ready for implementation of several new important functions, including vital parameter detection.As this will be a new product, it will also be the one that will be certified as a medical technology product class 2 for use in clinical settings, eg hospitals The existing EaZense will continue to be a medical technology product class 1 but will be updated from MDD to the new requirement MDR. I look forward to a continued exciting 2021 together with our customers, partners and investors. Klas Arvidson
Questions are referred to:
Klas Arvidson, CEO Raytelligence
+46 70 416 98 00
Raytelligence AB (publ)
302 42 Halmstad
This information is disclosed by Raytelligence AB under the EU Market Abuse Regulation. The information was provided by the above contact person for publication on May 27, 2021 at 08:00 CET.
About Raytelligence AB (publ)
Raytelligence is a Swedish innovation company, based in Halmstad that offers products for monitoring vital parameters, ie breathing, heart rate and movement patterns, based on the company's own 60 GHz radar technology.