Mentice publishes the company's interim report for the period January-March 2022

STOCKHOLM, April 27, 2022 /PRNewswire/ -- A strong start for the year with continued overall growth

• Our strong finish of 2021 is now followed by a first quarter of 2022 with considerable growth for both order intake and net sales. We increased the order book to 91.4 (72.9) MSEK compared to the end of 2021 (87.1) MSEK.
• The orderbook now consists of 72% Annual Recurring Revenue based components adding up to 66 MSEK out of the total of 91.4 MSEK.
• Net sales for the first quarter of 53.1 (32.3) MSEK, corresponding to an increase of 64.2% compared to the same period last year and the order intake was 54.4 (39.9) MSEK an increase of 36.3% compared to last year.
• A significant event in the quarter was the order received by Siemens Healthineers China relating to 10 systems for the Corindus roll-out of GRX robots in China. It should be noted that none of these systems was recognized as net sales for the quarter, but they are planned for the remainder of this year. The software for these systems is to be recognized over time as recurring revenue.
• The overall performance for the quarter is improved compared to last year, hence both the cash flow from operations as well as the quarter result are improved compared to last year and to what Mentice typically experiences in a first quarter.

First quarter (January-March 2022)

• Order intake amounted to 54.4 (39.9) MSEK.
• Order book by the end of the period was 91.4 (72.9) MSEK.
• Net sales amounted to 53.1 (32.3) MSEK for the first quarter.
• Earnings before depreciation and amortization (EBITDA) totalled -1.3 (-8.4) MSEK.
• Net income for the period amounted to -7.4 (-12.4) MSEK.
• Earnings per share (EPS) was -0.30 (-0.50) SEK.
• Cash flow from operating activities totalled 7.4 (-13.1) MSEK for the first quarter.

CEO Göran Malmberg comments:

" The order intake in the first quarter of 2022 has provided continued growth for Mentice, wherein we can appreciate a much improved generation of orders from the hospital and strategic alliances market, with levels comparable to the time before the pandemic. This is an encouraging change as our sales to hospitals has been heavily affected by Covid-19 during the last two years."

Webcast presentation of the interim report

Mentice (publ) interim report for January-March 2022 will be presented by CEO Göran Malmberg with the possibility to ask questions on April 27, 2022 at 10.00 CET. The presentation will be held via the web and in English.

To register for the presentation, please visit www.mentice.com/financial-reports-presentations.

Please make sure to register at least a few minutes in advance.

For more information, please contact:

Göran Malmberg, CEO, Mentice

E-post: [email protected]

US Mobile. +1 (312) 860 5610

Sweden Mobile +46 (0) 703 09 22 22

About Mentice

Mentice is the world leader in software and hardware simulation solutions for endovascular therapies. Our solutions help healthcare professionals acquire, retain, and enhance their procedural skills driving improved productivity and outcomes. Mentice solutions are scientifically validated and have been specifically developed for healthcare providers and the medical device industry. Neurovascular, cardiovascular and peripheral interventions are just some of the clinical areas covered by our solutions. More information on www.mentice.com

This information is information that Mentice AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person, at 08.30 CET on April 27, 2022.  

Marketplace| Nasdaq First North Growth Market, Stockholm | Ticker symbol MNTC

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