Twiik is doing its best fourth quarter so far. The development follows the company's plan of continued growth compared to the same period last year. Net turnover increased by 30% compared to the same quarter last year, which contributes to full-year turnover increasing by 105% compared to the previous year. During the period, the technical platform has seen continued development, and several strategic projects were implemented during the period.
Fourth quarter in figures
- Net turnover: 1,982 (1,530) KSEK
- Operating profit: –3,458 (-5,281) KSEK
- Profit after tax: -2,794 (-4,515) KSEK
- Earnings per share before dilution: -0.42 (-5.64) SEK
- Earnings per share after dilution: -0.32 (-2.38) SEK
The year in numbers
- Net turnover: 8,856 (4,314) KSEK
- Operating profit: -11,058 (-11,134) KSEK
- Profit after tax: -9,007 (-6,426) KSEK
- Earnings per share before dilution: -1.67 (-8.03) SEK
- Earnings per share after dilution: -1.25 (-5.98) SEK
Significant events during the fourth quarter
- Twiik’s Enterprise Platform 2.0 is released. This provides new opportunities for gyms to integrate with business systems and create a better membership experience.
- 16 Weeks of Hell deepens the collaboration and starts selling its popular Stay-fit program via Twiik's marketplace.
Significant events after the end of the period
- The enterprise solution for Friskis & Svettis Riks, Friskis Go, goes live. A strategically important project. The launch means that the monthly license for Friskis Go starts, which thus means a large increase in the company's recurring license revenues.
- Cooperation agreements are signed with Edenred, one of the world's largest corporate wellness benefit portals.The agreement refers to the Swedish market.
- In March, the company raised loans totaling SEK 4.5 million from members of the board.
- The current conflict in Ukraine does not currently affect Twiik's business relations directly or indirectly.
Comment from CEO Anders Gran
During the fourth quarter, we took several steps towards our goal of giving the training creators the best tools to give the masses access to great digital fitness.
Our sales continue to increase, we more than doubled our turnover for the full year and more coaches and gyms are finding their way to digital success through Twiik.
At the same time, we are constantly learning about the market and the consumer. We are slowly getting back to normal society after a pandemic that has turned most things upside down. Still, Twiik's user base and activity on the platform continue to increase – during Q4, over 1 Million training sessions were registered on Twiik. This is proof that there is no contradiction between working out online and working out at a gym. Today, consumers choose their own path to a healthier lifestyle – regardless of channel.
Twiik continues to evolve in close collaboration with customers and end consumers – both in terms of capability and features and user-friendliness. During the autumn, we developed an enterprise update that leads the way for the digital gym experience of the future. This was initially launched for ACTIC in November.
Just after the end of the quarter, in February 2022, Friskis Go, Friskis & Svettis’ nationwide online training service was launched. Something that increases our recurring income significantly starting in Q1 -22.
Our position in the enterprise segment continues to grow stronger. The projects with ACTIC and Friskis & Svettis Riks are two projects that are important on our journey to combine a SaaS platform, offering recurring license revenues, with a network-based marketplace where coaches and gyms reach more people with their digital services.
At the same time, we have many strong names outside the gym sector, such as the training concept 16 Weeks of Hell, Peppkampen and influencers like Pischa Strindstedt and corporate wellness like Twitch. Together they help thousands of people to a healthier life.
When we close the fourth quarter, we have a lot to be proud of. The company turnover has doubled for the full year 2021 and during the quarter we laid a good foundation for continued growth in both sales via the marketplace and an even stronger licensing business. A work that we will see the first results of during the first quarter of 2022.
Last but not least, we have taken an important step towards getting more people moving.
Anders Gran, VD