Ortivus AB (publ) interim report for the period January – March 2024

Significant events for the period January - March 2024

• Ortivus signs a contract with Region Sörmland for the delivery of MobiMed Monitor for patient monitoring and MobiMed Life, external defibrillators, to all of the region’s ambulance vehicles. The value of the delivery is estimated to be 10.0 MSEK, and the contract duration is two years with the possibility of annual extension for an additional two years.
• The earlier credit line from the third quarter amounting to 8.0 MSEK has had its maturity date extended to 2025-01-31, following an agreement with the company’s main owner, Ponderus Invest.
• Ortivus is awarded a contract for the delivery of MobiMed ePR to Region Norrbotten. The contract duration is five years with the possibility of annual extension for an additional five years. The estimated order value is 6.0 MSEK for the initial period, with an additional 4.5 MSEK upon contract extension.
• Magnus Mårtensson resigns from his position as Ortivus Product Manager as well as from the management team.

Significant events after end of the period

• Jörgen Petersen resigns from his position as Ortivus Service and Support Manager as well as from the management team.
• Viveka Hiort af Ornäs resigns from her position as Ortivus Chief Financial Officer as well as from the management team.
• A contract is signed between Ortivus and the company’s main owner, Ponderus Invest, regarding a bridge loan of 5.0 MSEK. The background for the loan is to strengthen the company’s liquidity situation, which has been significantly impacted by a previous cyberattack.

January - March 2024

• Net sales amounted to 22.1 (28.0) MSEK.
• The gross margin amounted to 41% (48%).
• The net income after tax amounted to -2.2 (0.5) MSEK.
• Earnings after tax per share before and after dilution amounted to -0.05 (0.01) SEK.
• Operating cash flow before changes in working capital amounted to -0.6 (1.5) MSEK.