Second quarter
- Net sales amounted to
SEK 4.4 (21.8*) million -
EBITDA amounted to
SEK -1.8 (-0.4) million -
EBIT amounted to
SEK -31.4 ** (-16.9) million -
EBT amounted to
SEK -32.2 (-20.0) million
SpectrumOne's subsidiary, Cemron OY, enters into partner agreement withIdeafix Group SpectrumOne launches PRISM Sales
*including revenues from the now divested companies
**including share of earnings from our associated company
CEO STATEMENT
Dear shareholders,
We have taken important steps this quarter on our journey to become a leading technology company, helping business accelerate growth through the provision of valuable insights.
We are continuing to strengthen our footprint in the Nordics building the foundation that will support us to expand further.
Our strategic direction continues to be proven correct and I am pleased to report that we do not, as many other businesses, suffer from lowered demand. In fact it is on the contrary as we are experiencing an increased demand for our solutions, mainly driven by the growing demand for insights and digitalization. I can also confirm that we have not witnessed cost cautions effects on our pricing. However, we do observe extended buying processes resulting in longer time to revenue.
Executing on our strategy in these turbulent times, we are of course inclined to balance between speed and caution. This does influence our progress, extending our planned execution but does not affect our tempo, our efforts and our strong focus towards achieving our strategic goals. That's why I am happy to see how we as an organization have been successful to realize important strategic wins.
Profitable growth
We continue prioritizing profitable growth, meaning profits before growth. For the subsequent three quarters we have been carefully reviewing and consolidating our business, resulting in key activities such as the divestment of Ampilio, in order to focus on our core business. This naturally has had an immediate negative effect on our revenue, and in the second quarter, we have witnessed the full effect. However this was a key and critical action from which we are now much better enabled to only grow our revenue streams.
Having consolidated our business, all operating companies contributes positively to our mission. Further, and more important we are closer to overall profitability than ever. The strategic milestone of reaching profitability in all operating companies this year still remains.
I am therefore thrilled to share that during the foregone quarter we have been successful to grow our sales pipeline both in number of opportunities and in monetary value. Further that the majority of our opportunities are related to our SaaS portfolio of services.
Moving forward we continue to strengthen our marketing and communication activities, attracting and increasing customer leads, further strengthening our brand in order to secure a rapid growth in our SaaS revenues.
PRISM as core
Our decision to base our value proposition around our Prism Cloud platform continues to prove positive. With this platform with its key elements and features, we are enabling business clients to explore their commercial potential and act on it in ways previously unavailable to them.
I am excited to share that the number of customers on Prism analytics is growing, and so are the SaaS revenue from this service. We have gained new customers last quarter on Prism analytics both via our partner network and via direct sales.
Our activities to pilot a version 1, ChatGPT/AI as an integrated component withing the PRISM platform have produced stunning results. This new LLM (Large Language Model) feature connected to our partners high quality data has been demonstrated to our partners with great success. We have already received requests for immediate access as soon as we launch this feature. Hence going forward, we plan to leverage the technology even further and make it an integrated part of the Prism platform and Cloud.
In addition I am happy to be able to report that before summer we launched our first version of Prism sales. The initial response has been very positive, and I am simply thrilled to announce that we already now have several paying customers on this service, the two largest being Österbergs
I am also able to announce that during the end of September we will be launching Prism growth, a survey-based tool linking insights about customer and employee engagement to commercial performance. The tool will be targeted at larger commercial mature organizations, consultancy companies and investors wanting to learn more about a company's ability to deliver on is growth strategy. We have already successfully tested the service with one comapny, and plan for yeat a test with another. Like for our other Prism products the business model of Prism growth is SaaS based.
All of our Prism solutions can be delivered as a stand-alone service, however combining those we have a really powerful value proposition, helping businesses to accelerate growth.
Going forward we are truly committed to continue to develop our services and tune our value propositions.
Nordics as our home market
To strengthen our Nordic position, we have made Prism analytics now available in all our operating countries.
Prism sales has so far been launched only in
The launch of Prism Growth later this year is initially planned for
Partnerships
Partnerships are and continue to be a key and fundamental part of our Go To Market model both in order to secure a solid distribution along with rapid access to both new and existing clients, and complementing and increasing our value propositions. In the foregone quarter we have strengthened and expanded our existing partnerships with
We are now in the final steps to add yet another partnerships. In the summer greetings I referenced this great distribution and partnership opportunity which we expect to fully conclude now in the beginning of September.
As agreements and compliance processes involved with these activities conclude I really look forward to announcing detailed information to the market. I understand that everyone is very excited to hear more. I look forward to providing you all with further information in the coming weeks.
Our ownership in
I am confident that we are on the right track, pursing our mission of becoming a global technology company, helping businesses to accelerate growth through valuable insight.
I look forward to soon share more strategic wins.
Best regards
Kenneth
For further information contact:
Kenneth Dalquist Valböll CEO
+47 99283 500,
kenneth@spectrumone.com
Certified Adviser:
Box 7415 103 91 Stockholm
Telefon: +46 8 506 517 03
ca@aktieinvest.se
www.aktieinvest.se
This report is to be found on our webpage (https://spectrumone.com/investor/reports-and-presentations/)
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