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ARTIFICIAL SOLUTIONS QUARTERLY REPORT JULY TO SEPTEMBER 2021 SAAS BUSINESS GROWING AND FINANCING SECURED JULY TO SEPTEMBER 2021 Net sales amounted to 11.0 MSEK ( 13.3 ) Net sales adjusted * 1 amounted to 11.9 MSEK ( 11.5 ) Recurring revenues adjusted * amounted to 9.5 MSEK ( 9.0 ) Rolling 12 months recurring revenues adjusted * amounted to 35.3 MSEK ( 32.7 ) Usage revenues adjusted * amounted to 4.2 MSEK ( 2.5 ) Gross margin decreased to 69 % ( 71 ) EBITDA adjusted amounted to -13.9 MSEK ( -17.9 ) Earnings per share amounted to -0.4 SEK ( -0.7 ) JANUARY TO SEPTEMBER 2021 Net sales amounted to 29.1 MSEK ( 44.1 ) Net sales adjusted * 1 amounted to 34.9 MSEK ( 37.0 ) Recurring revenues adjusted * amounted to 27.2 MSEK ( 25.8 ) Usage revenues adjusted * amounted to 12.2 MSEK ( 6.9 ) Gross margin increased to 69 % ( 67 ) EBITDA adjusted amounted to -45.6 MSEK ( -62.8 ) Earnings per share amounted to -0.8 SEK ( -2.2 ) EVENTS DURING THE QUARTER ARTIFICIAL SOLUTIONS | QUARTERLY REPORT JULY TO SEPTEMBER 2021 Joined the Azure IP Co - Sell , incentivized partnership with Microsoft Signed a LUIS ^ Teneo SaaS deal together with our partner Microsoft with telecom operator A1 Bulgaria A large system integrator and partner signed up for and deploys LUIS ^ Teneo for its business Large Multinational US Tech company ordered continued expansion in US and Japan from our partner Signed renewal agreement with a US Government and Circle K Appointment of Nicolas Köllerstedt as Chief Revenue Officer Appointment of Gavriella Schuster , former Corporate Vice President , Microsoft , One Commercial Partner , as Advisory Board Chair EVENTS AFTER THE QUARTER Successfully secured 250 MSEK in new 5 - year credit facility to refinance existing debt and support continued growth Signed renewal agreement with Scania , a world - leading provider of transport solutions Repayment of 52 MSEK bond KEY FIGURES ( FOR DEFINITIONS PLEASE SEE PAGE 18 * FOR ADJUSTED REVENUES CLARIFICATION ON PAGES 4-5 ) JUL - SEP JUL - SEP JAN - SEP JAN - SEP 2021 2021 2020 2020 11.9 11.5 34.9 37.0 9.5 9.0 27.2 25.8 35.3 32.7 35.3 32.7 4.2 2.5 12.2 6.9 11.0 13.3 29.1 44.1 69 % 71 % 69 % 67 % -13.9 -17.9 -45.6 -62.8 -0.4 -0.7 -0.8 -2.2 -16.8 6.3 -47.1 -57.5 MSEK Net sales adjusted * Recurring revenues adjusted * Rolling 12 months recurring revenues adjusted * Usage revenues adjusted * Net sales reported Gross margin % Adjusted EBITDA Earnings per share , SEK Cash flow from Operations JAN - DEC 2020 47.3 33.9 33.9 10.4 53.8 66 % -78.3 -3.2 -75.9 1 The company has recalculated its Usage revenues to be aligned with the new SaaS model's " pay as you consume " principles . Please see pages 4-5 for adjusted revenues clarification .