PixelFox AB (publ): Year-end Report 2023

ORIGINAL REPORT WAS PUBLISHED IN SWEDISH ON 2024-02-08
Financial Overview
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|Consolidated income statement             |Q4 2023|Q4 2022|2023 |2022 |
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|Net Sales (SEK million)                   |10,2   |7,5    |47,3 |18,6 |
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|EBITDA (SEK million)                      |−0,1   |−0,8   |−1,5 |−5,7 |
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|Profit After Financial Items (SEK million)|−0,7   |−11,7  |−11,1|−20,3|
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|Balance Sheet Total (SEK million)         |12,6   |15,5   |12,6 |15,5 |
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|Equity Ratio (%)                          |70,7%  |41,3%  |70,7%|41,3%|
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|Earnings Per Share (SEK)                  |−0,02  |−1,06  |−0,34|−1,82|
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|                                          |       |       |     |     |
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|Parent income statement                   |Q4 2023|Q4 2022|2023 |2022 |
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|Net Sales (SEK million)                   |0      |0,1    |0,6  |0,4  |
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|EBITDA (SEK million)                      |−0,4   |−0,3   |−1,1 |−1,9 |
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|Profit After Financial Items (SEK million)|−0,4   |−2,1   |−1,9 |−9,0 |
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|Balance Sheet Total (SEK million)         |35,5   |41,1   |34,5 |41,1 |
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|Equity Ratio (%)                          |76%    |97%    |76%  |97%  |
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|Earnings Per Share (SEK)                  |−0,01  |−0,44  |−0,24|−2,13|
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Key Events During the Period
PixelFox AB's wholly-owned subsidiary acquires the Shopify solution Island Upsell.
The parent company changes its name from Partytajm International AB to PixelFox AB.
Robin Bäcklund assumes the position as acting CEO and Group Chief Executive for PixelFox.
PixelFox enters into an exclusive LOI with an American SaaS developer for the acquisition of an e-commerce application.
Key Events After the Period
Termination of Mentorship with Partner Fondkommission
Chief Executive Officer's Statement
During the fourth quarter of 2023, the group has continued to strengthen its position in the market through increased growth and new initiatives. We are facing exciting opportunities to expand our business areas within ecom-tech, and the management is determined to drive PixelFox towards scalable growth.
The period since I took over as the new CEO has involved orientation and strategic planning of the group's various operations. I have been engaged in analyzing our current position and identifying pathways for growth and innovation, which lays a foundation for what lies ahead.
Financially
In the fourth quarter of 2023, PixelFox achieved net sales of 10.2 MSEK (7.5 MSEK), an increase of 35.8% that reflects our market position and continuous growth. The group's EBITDA amounted to approximately -66,000 SEK, compared with -0.8 MSEK the previous year, which corresponds to a significant improvement of about 91.95%.
On the operational front, our focus has been on improving and further developing our current products, while carefully evaluating potential new acquisitions through due diligence processes. We have entered into a letter of intent (LOI) with an American developer to acquire a Shopify service that optimizes the management of corporate web stores. This acquisition process is now nearing its final stage, and we are optimistic about being able to complete the deal shortly.
PixelFox stands at an exciting point in the company's development. Our business areas range from offering SaaS services for commercial projects to conducting our own commercial projects where we apply these services. This approach gives us an advantage in the market by not only being a service provider but also using our own technology to drive innovation and create new opportunities. Our ambition is to continue to develop these areas, expand our portfolio of products and services, and thereby strengthen our position as a leading player within ecom-tech.
In Conclusion
As the new CEO, my ambition is to lead PixelFox towards scalable growth. We will continue to keep a constant eye on the market to identify and integrate new exciting products and services that fit into our ecosystem. Our long-term vision is not only to grow and expand our offerings but also to be a leader in innovation and customer value.
For further information, please contact:
Robin Bäcklund
CEO
PixelFox AB (publ)
ir@wearepixelfox.com
PixelFox AB (publ)
The business idea of PixelFox AB (publ) is to operate, develop, and acquire services and companies within e-commerce, SaaS, retail, and industry, and the company's vision is to become a leading player in their respective niches.