Modelon AB Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 11, 2022 at 07:00 am
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Modelon AB (publ) reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was SEK 16.1 million compared to SEK 14.1 million a year ago. Revenue was SEK 16.4 million compared to SEK 14.3 million a year ago. Net loss was SEK 15.9 million compared to SEK 10.9 million a year ago. Basic loss per share from continuing operations was SEK 1.45 compared to SEK 0.99 a year ago.
For the nine months, sales was SEK 49 million compared to SEK 53.1 million a year ago. Revenue was SEK 49.9 million compared to SEK 55.7 million a year ago. Net loss was SEK 46.2 million compared to SEK 27.3 million a year ago. Basic loss per share from continuing operations was SEK 4.19 compared to SEK 2.48 a year ago.
Modelon AB is a Sweden-based system software company that offers software and complementary products, as well as consulting services in industrial mathematical modelling, simulation and analysis of complex technical systems that enable companies to digitize, transform and improve their product development. The Company's offering includes system modeling and simulation software that accelerates product innovation, development and operation within a range of industries. Modelon's flagship product, Modelon Impact, is a cloud-based platform with a special Web interface and models and components spanning a wide range of applications. Modelon an industrial player in model-based system development with a focus on open standards.