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Brighter

Brighter

Interim report April-June 2018.

13:00 / 24 August 2018 Brighter Press release

The full Interim report is available on Brighter's website www.brighter.se. The Interim report is also attached as a pdf file to this press release.

Second quarter, April-June 2018.
  • Capitalized expenditure for development work reached SEK 5,183 thousand (10,627)
  • Operating income amounted to SEK 5,416 thousand (10,944)
  • Operating profit amounted to SEK -13,111 thousand (-4,766)
  • Profit for the period amounted to SEK -15,496 thousand (-6,503).
  • Earnings per share, before dilution amounted to SEK -0.23 (-0.10).
  • Earnings per share after dilution SEK -0.23 (SEK -0.10).
Half year, January-June 2018.
  • Capitalized expenditure for development work reached SEK 11,542 thousand
  • (15,345)
  • Operating income amounted to SEK 12,125 thousand (16,506)
  • Operating profit amounted to SEK -23,596 thousand (-8,401)
  • Profit for the period amounted to SEK -26,963 thousand (-11,340).
  • Earnings per share, before dilution amounted to SEK -0.41 (-0.22).
  • Earnings per share after dilution SEK -0.41 (-0.22).

Financial overview

KSEK. Apr-Jun Apr-Jun Jan-Jun Jan-Jun Jan-Dec Jan-Dec
2018 2017 2018 2017 2017 2016
Operating profit -13,111 -4,766  -23,596 -8,401 -19,946 -18,501
Net financial items -1,218 -785 -1,219 -786 -2,897 -238
Profit before tax -15,496 6,503 -26,963 -11,340 -27,292 -14,683
Total assets 116,900 84,354 116,900 84,354 111,354 68,734
Equity per share (SEK) 1.16 1.02 1.16 1.02 1.35 1.01
Capital adequacy (%) 67% 79% 67% 79% 78% 76%

For definitions, see note 24 in Brighter's 2017 Annual Report.

Significant events during the period.
  • Brighter and FRISQ have initiated a strategic partnership to strengthen healthcare infrastructure.
  • Brighter notifies delays in CE marking as a result of the fine tuning of tools.
  • Brighter's solution Actiste® has been nominated for the Design-S Swedish Design Awards 2018, in the category Industrial and Product Design B2B.
  • Brighter's diabetes solution Actiste wins the Red Dot Award for good design and quality.
  • Brighter is nominated to "Rising Star" by Swecare.
  • At the Annual General Meeting Barbro Fridén, who also is on the boards for Vitrolife and Getinge, was elected as new Chairperson of Brighter' Board of Directors. Catarina Ihre, with extensive experience in Investor Relations from among others SSAB and Electrolux, was elected as new board member of Brighter's Board of Directors. Jan Stålemark, Sara Murby Forste, Afsahne Ghatan Bauer and Lars Flening were relelected as Board members.
  • Exercise period for warrants of series TO4s and TO3s strengthed finances with SEK 672 thousand, representing 111,770 new shares and SEK 884 thousand representing 221,111 shares.
  • Brighter draw down the sixth tranche under the financing agreement with L1 Capital and issued additional free warrants to its shareholders.
  • The number of shares in Brighter AB increased. The total number of shares and votes has increased from 65,826,337 till 67,653,161.
Significant events after the end of the period.
  • The European Patent Office intends to grant Brighter's patent for AI-powered monitoring of medical devices.
  • Brighter draws down the seventh tranche of SEK 5 million under the financing agreement with L1 Capital and issues additional free warrants to its shareholders.
  • Dr. Teddy Batanghari, Kairos Healthcare's Co-Founder and former CEO of SummitHealthcare, becomes Senior Advisor to Brighter.
  • Brighter and AFAQ initiate partnership to launch Actiste in the GCC.
  • Brighter's Board of Directors has decided to initiate the process to apply for listing its shares on a regulated market.
  • Brighter has been named one of the Nordic's most promising growth companies 2018 and as such participated in the Serendipidy Challenge 2018 in Sweden.
  • The number of shares in Brighter AB has increased. The total number of shares and votes has increased from 65,826,337 till 68,528,384

Promising partnership in UAE initiated.

We kicked off Q2 on a strong note with Actiste winning the prestigious Red Dot Award for good design and quality. This is a fantastic independent confirmation of Actiste's stylish and user-friendly design, and it's very encouraging for our internal development team and our design and innovation partner Veryday. A big thank you to everyone involved!

There were two changes made to Brighter's Board of Directors at the annual general shareholders meeting during Q2. Barbro, one of Sweden's leading voices in healthcare, became the company's new chairperson. Barbro is a firm advocate for finding ways to encourage patient autonomy and serve people better with available healthcare resources, and her guidance will be very valuable as we continue to develop our business. Catarina Ihre also joined Brighter's board, bringing deep experience in investor relations from both the corporate and investor sides.

In April, Brighter was nominated as a "Rising Star" by trade association Swecare, which works to help Swedish healthcare companies expand internationally. As with the Red Dot Award, the Swecare nomination is further confirmation that Brighter is on the right track with our product and market vision.

In June, we made several announcements about the work we're doing to establish Brighter in Southeast Asia. We're now negotiating with pharmaceutical manufacturers in the region.

We're also negotiating with several parties in Thailand around the right to resell Actiste, so that we can broaden our reach in the region. We're in active discussions with additional sales partners in Indonesia too.

During the year discussions have been on going in several interesting markets. The partnership between Brighter and AFAQ Group L.L.C. is certainly one of Brighters more promising market breakthroughs lately. In July Brighter entered into a partnership to establish a company based in the United Arab Emirates and introduce Actiste® Diabetes Management as a Service into the Gulf Co-operation Council (G.C.C.) region. AFAQ Group is committed to the success of Brighter in the Arab region and we look forward to working with them and contributing to the improvement of the regions vast diabetes problem.

Finally towards the end of the quarter, Brighter was selected as one of the finalists in the Serendipity Challenge 2018 - a competition for the most promising startups and growth companies in the Nordics. The competition aims to recognize entrepreneurial companies with unique innovation or business concepts that have the potential to be commercialized on the global market. It was a great honor for Brighter to be selected and yet another sign of external recognition for our vision.

Best wishes,
Truls Sjöstedt, Founder and CEO of Brighter AB

Financial calendar.

Interim report Jul-Sept 2018: 11/15/2018
Interim report Oct-Dec 2018: 27/2/2019
Annual Report 2018: 27/3/2019
Annual General Meeting: 9/5/2019

For further questions. Please contact:

Truls Sjöstedt, CEO
Phone: +46 709 73 46 00
E-mail: truls.sjostedt@brighter.se

Ann Zetterberg, CFO
Phone: +46 708 37 21 23
E-mail: ann.zetterberg@brighter.se

About Brighter
Brighter is a Swedish-based company that, from a unique IP portfolio, creates smart solutions for one of healthcare's biggest challenges: changing patient behavior. Chronic diseases such as diabetes are rapidly increasing, and account for an increasing share of healthcare costs globally. Brighter's Business Model and Multi-Sided Market Platform - The Benefit Loop®- is based on the fact that many special interests create value for each other. By increasing access to valid health data, Brighter creates value for all stakeholders in the care chain: patients and their close associates, healthcare providers, research institutes, the pharmaceutical industry, and society as a whole. www.brighter.se

The Company's shares are listed on NASDAQOMX First North/BRIG (http://www.nasdaqomxnordic.com/shares/microsite?Instrument=SSE86375). Brighter's Certified Adviser on Nasdaq OMX First North is Eminova Fondkommission AB, +46 (0)8 - 684 211 00, info@eminova.se, www.eminova.se.

This information is such information, as Brighter AB is required to disclose under the EU Market Abuse Regulation and the Securities Market Act. The information was provided by the above contact persons for publication on August 24, 2018 at. 13:00 CET.

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