Despite a challenging year and an uncertain environment,
The fourth quarter in summary (October-
- Net sales increased by 16.0% (15.0%) and totaled tSEK 55,703 (48,040). Currency-adjusted net sales growth totaled 6.7% (21.7%).
- Operating profit totaled tSEK 5,011 (8,030) and the operating margin was 9.0% (16.7%).
- Adjusted operating profit totaled tSEK 7,813 (8,030) and adjusted operating margin was 14.0% (16.7%). In the fourth quarter, costs of in total tSEK 2,802 related to the public cash offer from Velvet Cichlid affecting comparability have been expensed. No costs were adjusted for in 2021.
- The total number of paying subscribers at the end of the period was 904,000 (901,000), an increase of 0.3% compared with the previous year.
-
Average Revenue per User (ARPU) for the quarter totaled
SEK 244 (214), a growth of 14.2% (0.1%). -
Earnings per share before dilution for the quarter totaled
SEK 0.20 (0.33). Results per share after dilution totaledSEK 0.20 (0.32).
The full year in summary (January-
- Net sales increased by 16.6% (14.7%) and totaled tSEK 213,271 (182,937). Currency-adjusted net sales growth totaled 12.4% (21.6%).
- Operating profit totaled tSEK 44,110 (10,325) and the operating margin was 20.7% (5.6%).
- Adjusted operating profit totaled tSEK 46,912 (36,386) and adjusted operating margin was 22.0% (19.9%). In 2022, costs of in total tSEK 2,802 related to the public cash offer from Velvet Cichlid affecting comparability have been expensed. In 2021, costs of in total tSEK 26,061 was adjusted for related to IPO costs.
- The total number of paying subscribers at the end of the period was 904,000 (901,000), an increase of 0.3% compared with the previous year.
-
ARPU for the period amounted to
SEK 236 (212), a growth of 11.0% (0.0%). -
Earnings per share before dilution in the year totaled
SEK 1.77 (0.43). Earnings per share after dilution totaledSEK 1.74 (0.42). -
The Board of Directors proposes dividend of
SEK 7.00 per share, corresponding to mSEK 141.9 based on outstanding shares per10 February 2023 .SEK 1.00 per share as ordinary dividend for 2022 andSEK 6.00 per share as extra ordinary dividend.
Important events during the reporting period
- In mid-quarter the new feature "Who is snoring?" was launched, which can detect with improved accuracy who in a room is snoring. The feature was developed using so-called few-shot-learning.
-
During December Sleep Cycle was launched with Huawei in
China , thus substantially increasing the targetable market.Sleep Cycle was already available previously for Apple's users in the region and can now be found on two of the biggest platforms in this market. -
On
19 December 2022 ,Velvet Cichlid AB , a consortium controlled byGLA Invest SA ,MCGA AB , h265 AB andPetter Wallin that represented some 68% of the shares inSleep Cycle announced a cash takeover bid to the shareholders inSleep Cycle . In connection with the board inSleep Cycle assessing the offer and issuing recommendations to shareholders, exceptional costs of tSEK 2,802 weighed on the fourth quarter.
Important events after the period end
- In January, a reorganization was carried out with the aim of tying the commercial functions together more closely with development and product strategy.
-
On
2 February 2023 ,Velvet Cichlid AB announced they will not proceed with the cash takeover bid. -
The Board of Directors in
Sleep Cycle adopted a policy with the goal that dividend shall, over time, amount to between 40% and 60% of annual net profit after taxes.
Updated dividend policy
The Board of Directors in
Commenting on the quarter, CEO Carl Johan Hederoth says:
"During the year we have adjusted our prices and in the fourth quarter these were fully implemented on most major markets. As anticipated, the price adjustments have affected new user acquisition, but still, we managed to grow the number of subscribers with 0.3% to 904 000 by the end of the fourth quarter. The renewal rates continued to be stable and ARPU developed very good growing 13.7% in the fourth quarter."
"
This information offered is such that
The full interim report is available on https://investors.sleepcycle Carl Johan Hederoth and CFO Per Andersson will hold a presentation on Friday 28 October at 9:30 CEO. The presentation can be followed on https://financialhearings.com/event/44443
For more information please contact:
Carl Johan Hederoth
CEO
cj@sleepcycle.com
Per Andersson
CFO and Head of Investor Relations
per.andersson@sleepcycle.com
+46 70 939 5327
Head of PR
press@sleepcycle.com
+46 73 972 6424
About
With millions of daily active users and over two billion nights analyzed in more than 150 countries,
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