Anoto Q1 sales increase 6% as retail segment gains momentum
Investing.com — Digital pen maker Anoto on Friday reported net sales of SEK 6.9 million in the first quarter, marking a 6% increase from the same period last year.
The company’s retail segment drove growth with sales rising 17% to SEK 3.4 million compared to the prior year period. Gross margin expanded to 75% from 69% in the year-ago quarter.
Anoto reduced its cost base by cutting headcount from 44 to 31 full-time equivalent employees through the adoption of artificial intelligence tools and workflows. The operating loss narrowed to SEK 9 million in the quarter.
The company closed a new secured convertible loan during the period and appointed Jonathan Faiman as chief executive officer.
Anoto said it is focusing on execution, customer deployments, revenue generation and operating leverage going forward.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
