Revenio Group Oyj

Interim / Quarterly Report • Oct 22, 2020

Interim Report

Interim Report January – September ²⁰²⁰

Revenio Group Corporation: Interim report January 1–September 30, 2020

Figures in brackets refer to the same period in the previous year, unless otherwise stated.

An excellent quarter driven by strong sales and exceptionally low expenditure

July–September 2020

• Net sales totaled EUR 15.8 (14.3) million, a growth of 10.5%
• The currency-adjusted growth of net sales in July–September was 17.0%, or 6.4% percentage points stronger than reported
• Operating profit was EUR 3.6 million (3.9), a decline of 7.5%
• Demand for iCare intraocular pressure measurement devices and probes remained strong, and sales of imaging devices picked up slightly from the beginning of the year. Sales success was affected also by some larger-than-usual orders in the United States
• An impairment of EUR 1.9 million was made on the product development costs of the skin cancer camera Cutica due to weakened outlook for future return expectations. Clinical studies and AI development are continued according to plan
• Operating profit for the reference period was weighed down both by non-recurring acquisition costs and the impact of the acquisition cost of CenterVue's inventories, amounting to EUR 0.7 million
• Adjusted for non-recurring acquisition costs and the impact of the acquisition cost of inventories, the operating profit for the reference period was EUR 4.6 million, while the operating profit for the review period, adjusted with the impairment of Cutica, amounted to EUR 5.6 million. In relation to the adjusted operating profit for the reference and reporting period, operating profit grew by 21.0% in the reporting period.
• Fixed costs during the review period have been over EUR 1 million lower than planned due to the constraints caused by the Covid-19 pandemic, in particular travel and trade fair expenses
• EBITDA was EUR 6.2 (4.6) million, an increase of 35.8%
• EBITDA for the reference period was weighed down both by non-recurring acquisition costs and the impact of the acquisition cost of CenterVue's inventories, amounting to EUR 0.7 million. EBITDA adjusted for non-recurring acquisition costs was EUR 5.3 million in the reference period. In relation to the adjusted EBITDA for the reference period, EBITDA grew by 18.3% in the reporting period
• Gross margin was EUR 11.4 (10.0) million
• Gross margin in the reference period was weighed down by the impact of the acquisition cost of Centervue's inventories. Adjusted gross margin in the reference period was EUR 10.4 million. In relation to the adjusted gross margin for the reference period, the gross margin for the reporting period increased by 9.6%
• Cash flow from operations totaled EUR 6.5 (2.0) million, an increase of 226.2%
• After the end of the review period, on October 12, 2020, the company announced its updated earnings guidance for the second half of 2020
• Undiluted earnings per share came to EUR 0.111 (0.117)

January–September 2020

• Net sales totaled EUR 41.4 (34.5) million, a reported growth of 19.8%
• The currency-adjusted growth of net sales in January–September was 22.1%, or 2.3 percentage points stronger than reported
• Operating profit was EUR 9.5 million (7.4)
• Demand for iCare intraocular pressure measurement devices and probes has been strong in the United States throughout the whole review period
• Operating profit for the reference period was weighed down by non-recurring acquisition costs amounting to EUR 2.8 million and the impact of the acquisition cost of CenterVue's inventories.
• Adjusted for non-recurring acquisition costs, the operating profit for the reference period was EUR 10.1 million, while the operating profit for the reporting period, adjusted with the impairment of Cutica, amounted to EUR 11.4 million. In relation to the adjusted operating profit for the reference and reporting period, operating profit grew by 12.8% in the reporting period
• EBITDA was EUR 13.4 (8.8) million
• EBITDA for the reference period was weighed down by non-recurring acquisition costs amounting to EUR 2.8 million and the impact of the acquisition cost of CenterVue's inventories. EBITDA adjusted for non-recurring acquisition costs was EUR 11.6 million in the reference period. In relation to the adjusted EBITDA for the reference period, EBITDA grew by 15.4% in the reporting period
• Gross margin was EUR 29.7 (23.9) million
• Gross margin in the reference period was weighed down by the impact of the acquisition cost of Centervue's inventories. Adjusted sales margin in the reference period was EUR 25.1 million. In relation to the adjusted gross margin for the reference period, the gross margin for the reporting period increased by 18.3%
• The Annual General Meeting confirmed a dividend of EUR 0.30 (0.28)
• Undiluted earnings per share came to EUR 0.283 (0.222)

Key consolidated figures, EUR million

	7-9/2020	7-9/2019	Change-%	1-9/2020	1-9/2019	Change-%
Net sales	15.8	14.3	10.5	41.4	34.5	19.8
Gross margin	11.4	10.0	13.8	29.7	23.9	24.0
Gross margin - %	72.2	70.2	2.1	71.8	69.3	2.4
EBITDA	6.2	4.6	35.8	13.4	8.8	51.5
EBITDA-%	39.4	32.1	7.3	32.4	25.6	6.8
Operating profit, EBIT	3.6	3.9	-7.5	9.5	7.4	28.8
Operating profit-%, EBIT	23.0	27.4	-4.5	22.9	21.3	1.6
Return on investment-%, ROI	3.9	7.4	-3.5	10.2	13.8	-3.6
Return on equity-%, ROE	4.6	7.8	-3.2	11.7	14.6	-2.9

Undiluted earnings per share	0.111	0.117	0.283	0.222
		30/9/2020	30/9/ 2019	Change, %- point
Equity ratio-%		59.5	56.0	3.5
Gearing-%		6.7	14.1	-7.4

Financial guidance for the second half of 2020

Financial guidance issued by the company after the end of the review period on October 12, 2020: Revenio expects its business and operating environment to develop in the second half of 2020 as follows:

• The Covid-19 pandemic continues to cause general uncertainty on the market and weakens visibility for the remainder of the year 2020. Under these circumstances Revenio Group Corporation estimates that the company's currency-adjusted net sales for July-December of the present year will grow strongly from the previous year and the profitability excluding non-recurring costs will be on a strong level.

Revenio withdrew its earlier earnings guidance for 2020 on April 2, 2020 due to the uncertainty caused by the coronavirus outbreak. Due to the uncertainty and general downward economic trend caused by the Covid-19 pandemic, market conditions have become very exceptional, resulting in a significant decline in the predictability of financial development. As it is not yet possible to assess the full impact of the situation towards the end of the year, Revenio Group Corporation will revoke its financial guidance for 2020, given on February 20, 2020.

The company's original earnings guidance of February 20, 2020 for the year 2020 was as follows: Revenio Group's reported net sales are estimated to grow very strongly from the previous year and profitability is to remain at a good level without non-recurring items.

President & CEO Jouni Toijala comments on the third quarter of 2020:

"I would like to extend my warmest thanks to all the Revenio Group employees around the world for the excellent work you have done in the exceptional circumstances caused by the Covid-19 pandemic. Together, we again achieved excellent performance, especially in the continued strong demand for intraocular pressure measurement devices and their probes during the review period. In addition to customer deliveries, our entire organization was kept busy in the third quarter by the global launch of the iCare brand as well as the Group's strategy work.

Thanks to the dismantling of restriction measures the gradual recovering of the marketsstarted in May and continuing in July–September. Fixed costs have remained exceptionally low throughout 2020 due to travel restrictions and the cancellation of sales events and fairs because of the Covid-19 pandemic. Opportunities for physical customer meetings have been extremely limited, and important industry conferences were transferred online or cancelled altogether. When assessing the reference figures, it should also be noted that the CenterVue figures were not consolidated until May 1, 2019.

All of Revenio Group's ophthalmic products have now been combined under the unified iCare brand. With the unified iCare brand, we can offer our customers the full range of ophthalmic products and services even more efficiently and comprehensively: retinal imaging devices, perimeters for visual field tests, and devices for measuring intraocular pressure. We believe that eye care should be easy, accurate, and reliable. Our innovative, high-quality solutions aim to help eye care professionals perform their work faster, more easily and with greater accuracy.

Demand for iCare intraocular pressure measurement devices, in particular, continued to be strong in the third quarter. Our sales success was also influenced by some unusually large orders in the United States. We also responded to the continued strong demand for probes by opening a new probe production line at the end of the review period.

Sales of iCare retinal imaging devices picked up slightly during the review period. Demand for the DRSplus retinal imaging device has been particularly brisk. The Covid-19 restrictions continued to affect sales of imaging devices, however, as they are capital goods and require in-person meetings for both sales and installation. In many countries, clinics and hospitals continue to restrict visits, which makes product presentations and installations difficult. Clinics' patient flows also remain well below the pre-Covid-19 pandemic level. We expect the situation to continue along the same lines in the near future. In our view, we are well positioned with our iCare retinal imaging devices vis-à-vis our competitors when the restrictions caused by the pandemic are eased.

We are currently updating our strategy, with a large number of employees representing various operations in the Group actively involved. We will publish our strategy priorities and future steps after the turn of the year.

Development of the Ventica® and Cutica® systems is progressing according to plan. Our current view is that Cutica's go-to-market will take longer than we originally estimated. The delay in Cutica's schedule has been caused in particular by research work on the use of artificial intelligence in the automatic processing of image material. This is why we have recorded a partial write-down, which, however, does not have an impact on the short-term plans with the project. The project was not fully written down, and development work and product validation will continue. The impairment was based on the weakened outlook for future return expectations and project-related uncertainties.

The Covid-19 pandemic is unfortunately still going strong, and visibility into the future is hazy. We work every day to ensure that, even in these exceptional circumstances, we can deliver the world's leading ophthalmic products to our customers, bring new innovations to market, and ensure our future growth path. In addition to our employees, thanks are due to our customers, distributors, and all our partners who believe in us and make us feel that we are doing valuable work every day."

Effects of the Covid-19 pandemic and actions taken

The risks and uncertainties related to the global Covid-19 pandemic grew significantly during the first quarter of 2020. During the second quarter of 2020, a gradual market reopening could already be observed around the world. In the third quarter, the uncertainty caused by the Covid-19 pandemic increased again.

In the early stages of the pandemic, the entire Revenio Group transitioned widely to remote working at all its locations, and customer meetings were conducted mainly via remote tools. We have continued the remote working recommendation until further notice, taking official local guidelines into consideration. The sales and marketing organization has arranged several product webinars for customers and distributors which have received positive feedback. Despite the Covid-19 pandemic, Revenio has continued its R&D projects without interruption.

The pandemic has not had a significant impact on the supply chain. Sales of probes have been brisk due to the hygienic solution in the Covid-19 environment. Imaging devices, on the other hand, are capital goods, and their market is expected to recover more slowly, as they require both face-to-face presentations and physical installation and deployment.

Revenio's balance sheet and cash flow have remained strong throughout the period. The Covid-19 pandemic has not had a significant impact on Revenio's financial position, except to the extent that the company agreed on a six-month grace period for its loan arrangement. No material changes have been observed in customers' liquidity.

FINANCIAL REVIEW

INTERIM REPORT JANUARY 1–SEPTEMBER 30,2020, TABLE SECTION

Statement of accounting policies for the Interim Report

This is not an Interim Report as specified in the IAS 34 standard. The company complies with half-yearly reporting according to the Finnish Securities Markets Act and discloses financial reviews for the first threeand nine-month periods of the year, presenting key information regarding the company's financial development. The financial information in the interim report is unaudited. The financial statement bulletin and interim report H1/2020 are prepared in compliance with IAS 34 Interim Financial Reporting. The report has been prepared on the same principles as the 2019 financial statements, with the exception of the following amendments to existing Standards, which the Group has applied as of January 1, 2020:

-IAS 1 and IAS 8; amendments to definition of materiality -IFRS 3; amendments to definition of a business

-IFRS 9, IAS 39 and IFRS 7; interest rate benchmark reform

According to the management's assessment, the adoption of the standards listed above has no impact on the Group's financial statements.

Consolidated comprehensive income statement (EUR million)

					1-
	7-9/2020	7-9/2019	1-9/2020	1-9/2019	12/2019
NET SALES	15.8	14.3	41.4	34.5	49.5
Other operating income	0.0	0.0	0.1	0.1	1.3
Material and services	-4.4	-4.3	-11.7	-10.6	-14.9
Employee benefits	-3.1	-2.9	-9.1	-6.8	-9.8
Depreciation, amortization and impairment	-2.6	-0.7	-3.9	-1.5	-2.0
Other operating expenses	-2.1	-2.6	-7.3	-8.4	-11.5
NET PROFIT/LOSS	3.6	3.9	9.5	7.4	12.6
Financial income and expenses (net)	0.0	0.0	-0.2	-0.2	-0.3
PROFIT BEFORE TAXES	3.6	3.9	9.3	7.2	12.3
Income taxes	-0.7	-0.9	-1.8	-1.6	-2.9
NET PROFIT	2.9	3.0	7.5	5.6	9.3
Other comprehensive income items	-0.2	0.0	-0.2	0.1	0.0
TOTAL COMPREHENSIVE INCOME FOR PERIOD	2.7	3.0	7.3	5.7	9.4
Earnings per share, undiluted, EUR	0.111	0.117	0.283	0.222	0.365
Earnings per share, diluted, EUR	0.111	0.117	0.283	0.221	0.364

Consolidated balance sheet (MEUR)

	30/9/2020	30/9/ 2019	31/12 2019
ASSETS
NON-CURRENT ASSETS
Tangible assets	1.8	1.5	1.8
Goodwill	50.4	50.4	50.4
Intangible assets	17.1	19.5	19.4
Right-of-use assets	1.1	0.8	0.8
Other receivables	0.1	0.1	0.1
Deferred tax assets	0.0	0.4	0.0
TOTAL NON-CURRENT ASSETS	70.4	72.8	72.5
CURRENT ASSETS
Inventories	4.9	3.1	3.5
Trade and other receivables	6.2	8.4	6.4
Deferred tax assets	1.1	0.1	0.8
Cash and cash equivalents	24.2	20.9	26.7
TOTAL CURRENT ASSETS	36.3	32.4	37.3

TOTAL ASSETS	106.7	105.2	109.8
SHAREHOLDERS' EQUITY AND LIABILITIES
SHAREHOLDERS' EQUITY
Share capital	5.3	5.3	5.3
Fair value reserve	0.3	0.3	0.3
Reserve for invested unrestricted capital	52.1	49.6	51.2
Other reserves	0.3	0.3	0.3
Retained earnings/loss	7.9	4.1	8.0
Translation difference	-0.1	0.2	0.1
Own shares held by the company	-2.3	-0.7	-0.7
TOTAL SHAREHOLDERS' EQUITY	63.5	58.9	64.4
LIABILITIES
NON-CURRENT LIABILITIES
Deferred tax liabilities	4.1	3.9	4.1
Financial liabilities	25.2	27.4	25.4
Lease liabilities	0.5	0.4	0.4
TOTAL LONG-TERM LIABILITIES	29.8	31.7	29.9
CURRENT LIABILITIES
Trade and other payables	8.9	10.8	10.5
Provisions	0.4	0.6	0.4
Financial liabilities	3.6	2.7	4.3
Lease liabilities	0.6	0.5	0.4
TOTAL CURRENT LIABILITIES	13.4	14.6	15.5
TOTAL LIABILITIES	43.2	46.3	45.4
TOTAL SHAREHOLDERS' EQUITY
AND TOTAL LIABILITIES	106.7	105.2	109.8

Consolidated statement of changes in equity (MEUR)

		Reserve for
		invested
	Share	unrestricted	Other	Retained	Translation	Own	Total
	capital	equity	Reserves	Earnings	difference	shares	Equity
Balance 1 Jan 2020	5.3	51.2	0.6	8.0	0.1	-0.7	64.4
Dividend distribution	0.0	0.0	0.0	-7.9	0.0	0.0	-7.9
Disposal and purchase of own shares	0.0	0.0	0.0	0.0	0.0	-1.6	-1.5
Other direct entries to retained
earnings	0.0	0.0	0.0	0.3	0.0	0.0	0.3
Used option rights	0.0	0.9	0.0	0.0	0.0	0.0	0.9
Total comprehensive income	0.0	0.0	0.0	7.5	-0.2	0.0	7.3
Balance 30 Sept 2020	5.3	52.1	0.6	7.9	-0.1	-2.3	63.5
		Reserve for invested
	Share	unrestricted	Other	Retained	Translation	Own	Total

	capital	equity	Reserves	Earnings	difference	shares	Equity
Balance 1 Jan 2019	5.3	7.8	0.6	5.1	0.0	-0.8	18.1
Dividend distribution	0.0	0.0	0.0	-6.7	0.0	0.0	-6.7
Disposal and purchase of own shares	0.0	0.0	0.0	0.0	0.0	0.0	0.1
Other direct entries to retained
earnings	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Used option rights	0.0	0.5	0.0	0.0	0.0	0.0	0.5
Share issue	0.0	42.3	0.0	0.0	0.0	0.0	42.3
Share issue costs	0.0	-1.1	0.0	0.0	0.0	0.0	-1.1
Total comprehensive income	0.0	0.0	0.0	5.7	0.1	0.0	5.8
Balance 30 Sept 2019	5.3	49.6	0.6	4.1	0.2	-0.7	58.9

Consolidated cash flow statement (EUR million)

CASH FLOW FROM OPERATIONS	1-9/2020	1-9/2019	1-12/2019
Profit for the period	7.5	5.6	9.3
Adjustments:
Non-cash items	4.9	2.2	3.8
Interest and other financial expenses	0.2	0.2	0.4
Interest income and other financial income	0.0	-0.1	-0.1
Taxes	1.8	1.6	3.1
Change in working capital:
Changes in sales and other receivables	0.0	-2.1	-0.4
Changes in current assets	-1.5	0.7	-0.7
Changes in trade and other payables	-1.3	0.3	1.0
Change in working capital, total	-2.8	-1.1	-0.1
Interest paid	-0.2	-0.2	-0.3
Interest received	0.0	0.0	0.0
Taxes paid	-2.4	-2.5	-3.7
NET CASH FLOW FROM OPERATING ACTIVITIES	9.1	5.8	12.4
CASH FLOW FROM INVESTING ACTIVITIES
Acquisitions of subsidiaries less cash and cash equivalents at	0.0	-57.9	-58.2
acquisition time
Purchase of tangible assets	-0.4	-0.4	-0.8
Purchase of intangible assets	-0.6	-0.5	-0.7
Loans granted	-0.1	0.0	0.0
NET CASH FLOW FROM INVESTING ACTIVITIES	-1.1	-58.8	-59.7
CASH FLOW FROM FINANCING ACTIVITIES
Rights issue	0.0	42.3	42.3
Share issue-related transaction costs	0.0	-1.1	-1.1
Short-term loans drawn	0.0	4.2	4.2
Long-term loans drawn	0.0	25.8	25.8
Repayments of loans	-1.1	-1.2	-2.2
Dividends paid	-7.9	-6.7	-6.7
Share subscription through exercised options	0.9	0.5	1.9

Acquisition of own shares	-1.6	0.0	0.0
Payments of lease agreement liabilities	-0.5	-0.4	-0.6
NET CASH FLOW FROM FINANCING ACTIVITIES	-10.3	63.4	63.5
Net change in cash and credit accounts	-2.3	10.4	16.2
Cash and cash equivalents at beginning of period	26.7	10.4	10.4
Effect of exchange rates	-0.2	0.1	0.1
Cash and cash equivalents at end of period	24.2	20.9	26.7

Key consolidated figures, EUR million

	7-9/2020	7-9/2019	1-9/2020	1-9/2019	1-12/2019
Net sales	15.8	14.3	41.4	34.5	49.5
EBITDA	6.2	4.6	13.4	8.8	14.6
EBITDA-%	39.4	32.1	32.4	25.6	29.5
Operating profit	3.6	3.9	9.5	7.4	12.6
Operating profit-%	23.0	27.4	22.9	21.3	25.5
Profit before taxes	3.6	3.9	9.3	7.2	12.3
Profit before taxes, %	22.9	27.1	22.6	20.8	24.8
Net result for the period	2.9	3.0	7.5	5.6	9.3
Net result for the period, %	18.7	21.1	18.1	16.3	18.9
Gross capital expenditure	0.3	0.2	1.8	67.2	68.2
Gross capital expenditure-% from net sales	1.7	1.4	4.4	194.7	137.8
R&D costs	0.9	1.1	3.4	3.3	4.2
R&D costs-% from net sales	6.0	7.8	8.3	9.6	8.5
Net gearing-%	6.7	14.1	6.7	14.1	3.4
Equity ratio-%	59.5	56	59.5	56.0	58.6
Return on investment-% (ROI)	3.9	7.4	10.2	13.8	22.6
Return on equity-% (ROE)	4.6	7.8	11.7	14.6	22.7
Undiluted earnings per share, EUR	0.111	0.117	0.283	0.222	0.365
Diluted Earnings per share, EUR	0.111	0.117	0.283	0.221	0.364
Equity per share, EUR	2.38	2.23	2.38	2.23	2.42
Average no. of employees	133	120	129	90	88
Cash flow from operating activities	6.5	2.0	9.1	5.8	12.4
Cash flow from investing activities	-0.2	-0.2	-1.1	-58.8	-59.7
Net cash used in financing activities	-1.5	-1.2	-10.3	63.4	63.5
Total cash flow	4.7	0.6	-2.3	10.4	16.2

Alternative growth indicators used in financial reporting

Revenio has adopted the guidelines of the European Securities and Market Authority (ESMA) on Alternative Performance Measures. In addition to the IFRS-based key figures, the company will publish certain other generally used key figures that may, as a rule, be derived from the income statement and balance sheet. The calculation of these figures is presented below. According to the company's view, these key figures supplement the income statement and balance sheet, providing a better picture of the company's financial performance and position.

Revenio Group's net sales are strongly affected by fluctuations in the exchange rate between the euro and the U.S. dollar. As an alternative growth indicator, we also present our net sales with the exchange rate effect eliminated.

Alternative growth indicator (EUR thousand)	1–9/2020	1–9/2019
Reported net sales	41,372	34,525
Effect of exchange rates on net sales	623	-143
Net sales adjusted with the effect of exchange rates	41,995	34,382
Growth in net sales, adjusted with the effect of exchange rates	22.1%
Reported net sales growth	19.8%
Difference, % points	2.3%

Alternative profitability indicator EBITDA (EUR thousand)

EBITDA = Operating profit + depreciation + impairment

As an alternative growth indicator, the company will also present profitability as an operating margin (EBITDA) key figure.

Alternative profitability indicator EBITDA (EUR thousand)	1–9/2020	1–9/2019
Operating profit, EBIT	9,494	7,369
Depreciation, amortization, and impairment	3,908	1,477
EBITDA	13,402	8,846
Operating profit adjusted by non-recurring costs	1-9/2020	1-9/2019
(EUR thousand)
Operating profit, EBIT	9,494	7,369
Impairment related to Cutica	1,937	0
Non-recurring costs of the acquisition	0	2,764
Adjusted operating profit, EBIT	11,431	10,133

EBITDA adjusted by non-recurring acquisition costs 1-9/ 2020
(EUR thousand)
EBITDA	13,402	8,846
Non-recurring costs of the acquisition	0	2,764
Adjusted EBITDA	13,402	11,610

Formulas

EBITDA	=		Operating profit + amortization + impairments
Gross margin	=		Sales revenue – variable costs
Earnings per share	=		Net profit for the period (share calculated for the parent company's shareholders) Average number of shares during the period – own shares purchased
Profit before taxes	=		Operating profit + financial income – financial expenses
Equity ratio, %	=	100 x	Shareholders' equity on balance sheet + Non-controlling interest Balance sheet total – Advance payments received
Net gearing, %	=	100 x	Interest-bearing debt – cash & equivalents Total equity
Return on equity (ROE), %	=	100 x	Profit for the period Shareholders' equity + non-controlling interest
Return on investment (ROI), %	=	100 x	Profit before taxes + interest and other financial expenses Balance sheet total – non-interest-bearing debt
Equity per share	=		Equity attributable to shareholders Number of shares at end of period

General statement

This report contains certain statements that are estimates based on the management's best knowledge at the time they were made. For this reason, they involve a certain amount of inherent risk and uncertainty. The estimates may change in the event of significant changes in general economic conditions.

Revenio Group Corporation Board of Directors

For further information, please contact: President & CEO Jouni Toijala, tel. +358 50 484 0085 jouni.toijala@revenio.fi

Robin Pulkkinen, CFO, tel. +358 50 505 9932 robin.pulkkinen@revenio.fi www.revenio.fi

DISTRIBUTION:

Nasdaq Helsinki Oy

Financial Supervisory Authority (FIN-FSA) Principal media www.revenio.fi

The Revenio Group in brief

Revenio is a health tech group operating on the international market and a global leader in ophthalmological devices. Revenio Group's ophthalmic diagnostic solutions include intraocular pressure measurement devices under the iCare brand, retinal imaging devices and perimeters. The main tools for the detection and diagnosis of glaucoma and its monitoring during treatment are intraocular pressure measurement (tonometry), retinal imaging, and visual field tests (perimetry).

The Revenio Group comprises Revenio Group Oyj, Icare Finland Oy, Icare USA Inc., Revenio Italy S. R. L, CenterVue SpA, Revenio Research Oy, Done Medical Oy and Oscare Medical Oy.

In 2019, the Group's net sales totalled EUR 49.5 million, with its operating profit standing at 25.5%. Revenio Group Corporation is listed on Nasdaq Helsinki with the trading code REG1V.