Brief: Airthings Q4 Gross Profit At USD 5.6 Mln

Airthings ASA

10/02/2023 07:54

Feb 10 (Reuters) - Airthings ASA  AIRX.OL :
    * SALES REVENUE CAME IN AT USD 9.5 MILLION IN 4Q22 AND USD
35.5
MILLION FOR FULL YEAR 2022, UP 5% FROM 2021
    * Q4 GROSS PROFIT AMOUNTED TO USD 5.6 MILLION
    * ADAPTS TO SLOWDOWN IN REVENUE GROWTH, MARKET UNCERTAINTIES
BY
INTENSIFYING FOCUS ON OPTIMIZING BIZ OPERATIONS, REDUCING
INVENTORIES, IMPROVING CASH POSITION
    * FOR Q1 2023 COMPANY EXPECTED REVENUE TO FALL WITHIN A WIDE
REVENUE RANGE OF USD 8.5 - 11.5 MILLION
    * ARR OF USD 3.7- 4.0 MILLION EXPECTED AT END OF 1Q23
    * BOD RESOLVED TO PROPOSE PRIVATE PLACEMENT OF NEW SHARES TO
RAISE
NOK 75 MILLION IN GROSS PROCEEDS
    * PRIVATE PLACEMENT TO BE CONDUCTED AFTER CLOSE OF TRADING
ON OSLO
STOCK EXCHANGE ON 13 FEBRUARY 2023
    * FIRDA AS TOGETHER WITH A MANAGEMENT AS HAS COMMITTED TO
SUBSCRIBE FOR AND BE ALLOCATED NOK 50 MILLION IN SUCH PRIVATE
PLACEMENT
    * FIRDA AS TOGETHER WITH A MANAGEMENT AGREED TO GUARANTEE
FULL
SUBSCRIPTION OF REMAINING NOK 25 MILLION AT A SUBSCRIPTION PRICE
OF NOK 3.20

Source text for Eikon:  ID:nObiP1hPga 
Further company coverage:  AIRX.OL 
 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))