Modelon AB Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 10, 2023 at 07:00 am
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Modelon AB (publ) reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was SEK 19.1 million compared to SEK 16.1 million a year ago. Revenue was SEK 19.2 million compared to SEK 16.4 million a year ago. Net loss was SEK 11.6 million compared to SEK 15.9 million a year ago. Basic loss per share from continuing operations was SEK 1.05 compared to SEK 1.45 a year ago.
For the nine months, sales was SEK 58.3 million compared to SEK 49 million a year ago. Revenue was SEK 58.9 million compared to SEK 49.9 million a year ago. Net loss was SEK 42.2 million compared to SEK 46.2 million a year ago. Basic loss per share from continuing operations was SEK 3.83 compared to SEK 4.19 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.