REPORT JANUARY – DECEMBER 2018
- Net Sales in the period amounted to MSEK 116 (173) and Net Sales for the quarter were MSEK 27 (26).
- Operating loss in the period was MSEK 130 (37) and Operating loss for the quarter was MSEK 120 (16)
- In Q4, we wrote off one-time non-recurring costs by MSEK 107 to clean up our balance sheet. This includes a write-down of inventory (MSEK 23), capitalized expenses (MSEK 53), goodwill (MSEK 19), and the other intangible amortization (MSEK 9).
- The decline in Net Sales is primarily attributable to Forms customers timing their pen orders to coincide with the availability of enterprise quantities of the new Anoto pen (AP-701). In addition, Anoto’s pricing policy change in the Forms business has also contributed to this deferral of revenue. The new model lowers upfront hardware costs and establishes recurring revenue streams associated with hardware, software, and Anoto’s proprietary microdot pattern.
- This pricing model transition required us to turn down numerous renewal requests based on the old pricing scheme with an unavoidable impact on revenue but the Group expects a substantial increase in revenue in coming quarters with lift provided by rapid adoption of the new pen and broad acceptance of the strategically sound new pricing policy.
- Gross margin in the period, when excluding the inventory write-down (MSEK 23), increased to 52% (41%) as a result of better margins in the Notetaking business and licensing revenue growing to 19% (14%) of the overall mix.
- Overhead costs in the period were MSEK 85, when excluding the other one-time write-offs (MSEK 84), down from the prior year (MSEK 108), due to the restructuring and cost-reduction efforts across all operations.
For further information, please contact:
Joonhee Won, CEO
Annual Report – 31 March, 2019
Annual General Meeting – 15 May, 2019
Please visit www.anoto.com/investors for the latest investor calendar information.
This interim report has not been subject to a review by the company’s auditors.
For more information
Joonhee Won, CEO
Anoto Group AB (publ.), Corp. Id. No. 556532-3929
116 74 Stockholm, Sweden
This information is information that Anoto Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:45 CET on 28 February 2019.