Press release from Companies
Publicerat: 2022-11-17 13:45:54
Company announcement no. 27-2022 Today, Audientes A/S releases its financial results for Q3 2022. In its second quarter of sales, the company secured DKK 2.2 million in revenue from its business in India, surpassing a total of DKK 3.2 million in revenue during the first nine months of 2022.
November 17, 2022
In Q4 2022, Audientes has experienced a continued interest but on a lower level compared to earlier expectations. Ramp up of collaborations with a number of new partners has been postponed to Q1 2023 and that is also the case for Audientes new product, Companion by Audientes, which is now expected to be commercially available in Q1 2023. On November 14, 2022 we therefore announced revised financial guidance for the full-year of 2022 and we have implemented cost saving measures to improve profitability. Securing further growth capital remains a key priority for the company. Audientes announced on November 16, 2022 that it has secured a bridge loan of DKK 1.1 million prior to executing on an upcoming funding round before the close of 2022. Furthermore, a tax receivable of DKK 1.9 million will be received in November 2022. If the upcoming critical funding round should not be completed as expected, the present plans for the development of the company will be adjusted accordingly to its financial capabilities. Steen Thygesen, CEO Audientes A/S, comments: “In Q3 2022, we generated DKK 2.2 million in revenue in our Indian business across hearing health retail channels, and surpassed DKK 3.2 million in total for the first nine months of 2022. We are very focused on working with our numerous collaboration partners, helping them grow their sales to end-users through their hundreds of active retail outlets and we strongly believe that we have a fantastic product that can remedy the many millions with a hearing disability. In a complex and uncertain operating environment, we have, in Q4 2022, experienced some delays to the growth of our business. The timing of certain new customer engagements will first take effect from Q1 2023 and the commercial availability of Companion has moved to early 2023. We have therefore lowered our sales expectations for 2022 and implemented a range of cost-savings. We are aware of the importance of securing further funding to support our current business plans, which of course will be adjusted to the capital secured.” TDKK Q3 2022 Q3 2021 YTD 2022 YTD 2021 2021 Revenue 2,224 - 3,232 - - Other operating income 214 - 642 - 214 EBITDA -1,804 -3,177 -8,490 -8,828 -13,217 Profit/loss for the period -3,713 -2,933 -12,343 -8,441 -12,901 Cash and cash equivalents 114 17,219 114 17,219 10,554 Equity 13,141 29,931 13,141 29,931 25,484 Equity ratio (%) 46.6% 85.4% 46.6% 85.4% 81.0% Earnings per share (DKK) -0.40 -0.31 -1.32 -0.90 -1.38 No. of shares beginning of the period 9,349,010 9,349,010 9,349,010 9,349,010 9,349,010 No. of shares end of period 9,349,010 9,349,010 9,349,010 9,349,010 9,349,010 Average number of shares 9,349,010 9,349,010 9,349,010 9,349,010 9,349,010 Date Event November 17, 2022 Q3 2022 Financial Report February 28, 2023 Year-end Financial Report March 23, 2023 2022 Annual Report April 18, 2023 Annual General Meeting 2023 May 16, 2023 Q1 2023 Financial Report August 24, 2023 Q2 2023 Financial Report November 9, 2023 Q3 2023 Financial Report https://www.audientes.com/investor-relations/ Meet the Company presentation: November 18, 2022 at 12:15 (12:15 CET) Audientes CEO Steen Thygesen is live at DAF (Dansk Aktionærforening/The Danish Shareholder Association), presenting the company and the Q3 2022 financial results, latest news, followed by a Q&A session. Link to Dansk Aktionærforening (DAF) event. Financial report presentation: November 18, 2022 at 13:00 (1:00 pm - CET) Audientes CEO Steen Thygesen is live at HC Andersen Capital, presenting the Q3 2022 Financial Report and latest news followed by a Q&A session. Link to HC Andersen Capital event. Steen Thygesen, CEO, Audientes A/S Phone: +45 53 17 26 10 Email: st@audientes.com Troels Torp, CFO, Audientes A/S Phone: +45 40 52 18 80 Email: tto@audientes.com Audientes A/S is a Danish hearing health company specializing in smart, self-fitting and affordable hearing aids and advanced hearables. Audientes’ unique hearing aid solution, Ven™ by Audientes, is available for purchase in the Indian market, online and in retail, and will be introduced to the US over-the-counter market and other markets in the coming years. Companion by Audientes is an advanced hearable consumer electronic product that will be launched in Europe and USA in Q4 2022 with commercial availability in early 2023. Audientes’ mission is to help the approximately 500 million people globally suffering from disabling hearing loss who either cannot afford to buy one of the very expensive hearing aids on the market, or who do not currently have access to a solution to their hearing loss. Audientes is listed on Spotlight Stock Market Denmark (AUDNTS) and headquartered in Copenhagen, Denmark with a subsidiary in Hyderabad, India. For additional information please refer to the company’s website,https://audientes.com.Q3 2022 and YTD 2022 reporting performance highlights
Financial highlights
Highlights Q3 2022
Outlook for the remainder of 2022
Financial calendar
Link to Q3 2022 Financial Report (in English):
Presentations:
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About Audientes A/S