Revised financial objectives to be announced by Sleep Cycle
Fresh Take:
Sleep Cycle, the beloved sleep tracking app, gears up to announce updated financial goals at an upcoming investors' gathering. Sleep Cycle's top brass, including the CEO, will discuss the revised financial projections and share insights on the company's innovative new business strategy.
Here's a sneak peek at the updates:
- Sleep Cycle aims to more than double its earnings in the midterm (previously targeted 30% annual growth).
- The target annual EBIT margin has been raised to approximately 25% (previously set at 20%).
The dividend policy, amounting to 40-60% of annual net profit, remains unaltered.
"Sleep Cycle has been steadily climbing the success ladder, but we're convinced that a goldmine of untapped potential lies ahead. It's time to kick things into high gear, and we've devised an exhilarating new business plan tailored for turbocharged growth. A thorough examination has unveiled several opportunity zones that set us apart. We're optimistic that these will propel us onto a skyrocketing growth curve. Our new financial targets are indeed daunting, but we've a robust product lineup and a top-tier talent pool,” said Erik Jivmark, Sleep Cycle's CEO.
Join Sleep Cycle for their capital markets event today at 10:00 CET. Follow the link below to register:
Registration for Capital Markets Event
This data is being disclosed in accordance with the EU Market Abuse Regulation. The information was released, through the agency of the contact person mentioned below, at 8:30 CET on 20 March 2024.
Key Contacts:
Erik JivmarkCEO [email protected]
Per AnderssonCFO [email protected]
Jonna GrenfeldtPR and Communication [email protected] +46 70 735 7539
On Sleep Cycle:With millions of daily users and over 2 billion nights analyzed across more than 150 countries, Sleep Cycle is the globe's most popular sleep tracking app, dedicated to enhancing sleep health. Sleep Cycle's mission is to revolutionize health worldwide by helping individuals sleep better. Ever since its debut in 2009, Sleep Cycle has assisted millions in understanding their sleep habits and improving their rest. The mobile app facilitates easier sleep onset, tracks sleep throughout the night, wakes users during light sleep phases, and offers insight into sleep habits improvement. Sleep Cycle is one of the world's primary sources for sleep statistics and contributes to research and reporting on sleep internationally. Sleep Cycle is traded on the Nasdaq Stockholm under the symbol SLEEP. The headquarters are situated in Gothenburg, Sweden.
Enrichment Scoop:Sleep Cycle's new business blueprint prioritizes expansion through strategic partnerships and the introduction of groundbreaking health features. The app has teamed up with renowned brands like HelloFresh, Factor, and YouFoodz for an in-app promotion platform, enabling external partners to engage with Sleep Cycle's vigilant user base through tailored wellness offers. This strategy aims to align daily wellness routines, such as nutritious eating and better sleep, in an effort to boost user value and strengthen the partnership ecosystem[1][4].
In addition, Sleep Cycle is taking a major stride by breaking into the AI-driven medical diagnostics sector, specifically homing in on obstructive sleep apnea (OSA), which affects 950 million adults globally, with a significant portion remaining undiagnosed. Sleep Cycle is embarking on a clinical study to validate a smartphone-based sleep apnea diagnosis feature that doesn't require extra hardware or wearables. This innovation has a promising outlook on tapping into the projected home testing market for sleep apnea, expected to surge from USD 712 million in 2025 to USD 966 million by 2035[2][3].
For further information, please contact:
Erik JivmarkCEO [email protected]
Per AnderssonCFO [email protected]
Jonna GrenfeldtPR and Communication [email protected] +46 70 735 7539
Investing in Sleep Cycle, the preferred sleep tracking app, could yield significant returns due to their bold new business strategy focused on expansion through strategic partnerships and introducing revolutionary health features. In line with this, Sleep Cycle is aiming to more than double its earnings in the midterm and has raised its target annual EBIT margin to approximately 25%. These ambitious financial targets are reflective of Sleep Cycle's strong product lineup and talented workforce.
