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    CFISH   SE0009190192

CRUNCHFISH AB (PUBL)

(CFISH)
Delayed Nasdaq Stockholm  -  11:29:51 2023-02-07 am EST
30.66 SEK   -6.12%
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Crunchfish signs agreement with Ximmerse for XR Skeleton Stereo

08/17/2022 | 02:31am EST

Crunchfish Gesture Interaction AB ("Crunchfish") signs a commercial license agreement with Guangdong Virtual Reality Technology CO LTD ("Ximmerse"), to provide Ximmerse's next generation AR-glasses with Crunchfish's latest hand tracking technologies - XR Skeleton and XR Skeleton Stereo. Ximmerse will integrate Crunchfish's software in all new models of AR-glasses to enable touchless interaction. It is a 3-years agreement, with a business model that includes an initial fee of $25,000US as well as a running royalty per produced unit that includes Crunchfish's software.

The agreement gives Ximmerse the right to use Crunchfish's technologies - XR Skeleton and XR Skeleton Stereo - in AR-glasses and other mixed reality products worldwide. Crunchfish XR Skeleton Stereo is the company's latest and most advanced software to date and provides support for two-hand interaction and the use of two camera sensors simultaneously.

Next generation of Ximmerse's AR-glasses target high production volumes and has a powerful hardware with two camera sensors (stereo) that enables high precision hand tracking. With Crunchfish's skeleton hand tracking technology, dual-hand interaction is made possible with high precision and accuracy.

Ximmerse was founded in 2014 and is a trusted provider of mixed reality products since many years. The company's product - RhinoX - has been a great success and next generation models with even more advanced functionality and features are under development and will create opportunities for customers around the world.

"Ximmerse has long been recognized for enabling massively popular AR experiences. To enable even more compelling use cases with our next generation augmented reality products, intuitive hand gesture interaction will be crucial for us to create extraordinary experiences. We are delighted to embrace Crunchfish's XR Skeleton technology and look forward to a fruitful collaboration", says Mike Bailey, Co-Founder of Ximmerse.

"XR Skeleton Stereo is our latest and most advanced technology, and we are very proud to get the opportunity to integrate it in the state-of-the-art AR products from Ximmerse. To be able to interact in augmented reality in an intuitive way is crucial for the success of a product and we are very excited to contribute to a great user experience for Ximmerse's customers", says Joakim Nydemark, CEO at Crunchfish Gesture Interaction.

For more information, please contact:
Joakim Nydemark, CEO of Crunchfish Gesture Interaction AB
+46 706 35 16 09
Joakim.nydemark@crunchfish.com

This information is information that Crunchfish AB is obliged to publish in accordance to the EU Market Abuse Regulation. The information was provided by the contact person above for publication on August 17, 2022 at 08:30CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish - crunchfish.com/Gestures
Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

https://news.cision.com/crunchfish/r/crunchfish-signs-agreement-with-ximmerse-for-xr-skeleton-stereo,c3614880

https://mb.cision.com/Main/14959/3614880/1615521.pdf

(c) 2022 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 18,3 M 1,72 M 1,72 M
Net income 2021 -38,5 M -3,62 M -3,62 M
Net cash 2021 32,2 M 3,03 M 3,03 M
P/E ratio 2021 -18,6x
Yield 2021 -
Capitalization 1 017 M 95,7 M 95,7 M
EV / Sales 2020 21,1x
EV / Sales 2021 40,3x
Nbr of Employees 21
Free-Float 42,5%
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Managers and Directors
Joachim Samuelsson Chief Executive Officer & Director
Johan Kling Chief Financial Officer
G÷ran Harald Linder Independent Chairman
Paul Cronholm Chief Technology Officer
Joakim Nydemark Chief Operating Officer
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