PatientSky is revising it's 2021 revenue guidance down to NOK 205-210m from
previously guidance of >NOK 240m. The decline from previous revenue guidance
comes 2/3 from delayed PaaS revenues and 1/3 from lower SaaS revenues. The
EBITDA-margin guidance is subsequently revised down to >20% from previous
guidance of >25%.
The Paas revenue revision of NOK 20m represents a 14% group revenue downgrade
and is due to a delay in product development. We plan to onboard several of the
+30 partners already in the pipeline with a fully scalable and commercial ready
platform in 2022.
The SaaS revenue revision of NOK 10-15m represents a 7-10% group revenue
downgrade and stems from factors including commercial execution, PMI headwinds
and churn. Particularly upselling of video and VOIP has proved more difficult as
patients have been returning to physical visits as COVID restrictions and
worries have eased.
Despite the negative update, we remain positive for the ongoing transition to a
more focused platform company. Recent important initiatives include organizing
into business units, promoting a talented CCO PaaS and continuing to pursue our
mission to deliver revolutionary and innovative eHealth solutions.
We have identified and begun to address the key issues that need to be resolved
and foresee an improved commercial situation heading into 2022 and beyond.
For further information, please contact:
CEO: Johan Zetterström
CFO: Stian Husvæg
PatientSky, founded in 2014 to innovate e-health, is a cloud-based SaaS
(Software as a Service), PaaS (Platform as a Service) and IaaS(Infrastructure as
a Service) company delivering solutions to the health care industry (both
practitioners and patients). The Group is a leading e-health provider in the
Nordics and its main products are the PatientSky 360 Platform and EHR systems,
including other similar administration services. At the core of the Group's
business is the PatientSky 360 Platform, which is a platform that provides all
the necessary building blocks for rapid development of highly scalable
healthcare software. PatientSky has an open platform and EHR system, enabling an
ecosystem in which healthcare providers can communicate with each other using
one system, and in which data can be aggregated and consumed on a higher level.