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Sleep Cycle
Earnings Release • Mar 20, 2024
3201_iss_2024-03-20_6f6cde45-1db2-42cb-af1c-0dc4f9b5cc0b.pdf
Earnings Release
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Sleep Cycle to present revised financial targets
Göteborg 20 March 2024 - Sleep Cycle today will present revised financial targets at a capital markets event. Sleep Cycle's CEO and senior members of the management team will comment on the revised financial targets and provide insights into the company's new business strategy.
Sleep Cycle's revised financial targets:
- Doubling earnings in the medium term (the previous target was 30 percent growth year over year).
- Annual EBIT margin of around 25 percent (the previous target was 20 percent).
The dividend policy of 40–60 percent of annual net profit remains unchanged.
"Sleep Cycle has seen consistent growth over the years, but we're confident that greater growth potential exists. It's time to shift into a higher gear, and we've developed a brand-new business strategy with a singular focus: increased profitable growth. A comprehensive analysis has revealed several opportunity areas that will set us apart. We're confident that these will put us on a solid growth trajectory going forward. Our new financial targets are ambitious, to be sure, but we've a got a solid core product and a deep bench of talent," said Erik Jivmark, CEO Sleep Cycle.
Sleep Cycle will provide comment on the new business strategy and revised financial targets during a capital markets presentation today at 10:00 CET. Click on the link below to register:
Invitation to capital markets presentation
This information offered is such that Sleep Cycle AB is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the care of the contact person above, for publication on 20 March 2024 at 8:30 CET.
For further information, please contact:
Erik Jivmark CEO [email protected]
Per Andersson CFO [email protected]
Jonna Grenfeldt
PR and Communication [email protected] +46 70 735 7539
About Sleep Cycle
With millions of daily active users and over two billion nights analyzed in more than 150 countries, Sleep Cycle is the leading sleep tracking application and one of the most widely used solutions worldwide to improve sleep health. Sleep Cycle's mission is to improve global health by empowering people to sleep better. Since its launch in 2009, Sleep Cycle has helped millions of people understand their sleep habits and improve their sleep. The mobile application helps users fall asleep more easily, tracks and analyses sleep during the night, wakes the user in a light sleep phase and provides insight into how sleep quality is best improved. Sleep Cycle is one of the world's most comprehensive sources for statistics on sleep and contributes to research and reporting on sleep worldwide. Sleep Cycle is listed on Nasdaq Stockholm under the ticker SLEEP. The head office is located in Gothenburg, Sweden.