Sleep Cycle AB (publ) (”Sleep Cycle” or the ”Company”), a market leading sleep tracking application with a mission to empower people to sleep better to improve global health, today announces the outcome of the initial public offering of Sleep Cycle’s shares and the listing on Nasdaq Stockholm (the “Offering”). The Offering attracted strong interest from Swedish and international institutional investors and the general public in Sweden. Trading in the Sleep Cycle share on Nasdaq Stockholm commences today, 8 June 2021, under the trading symbol “SLEEP”. Settlement is expected to take place on 10 June 2021.
About Sleep Cycle
Sleep Cycle is a market leading sleep tracking application with a mission to empower people to sleep better to improve global health. Sleep Cycle uses a patented AI-based audio technology to measure users’ sleep and provide personalized insights based on the Company’s sleep database. Sleep Cycle was founded in 2009 and is headquartered in Gothenburg, Sweden
Sleep Cycle offers a digital subscription service that gives users access to its sleep tracking application and can be accessed on both smartphones and smartwatches. The subscriptions to the application are sold through Apple App Store, Google Play Store, Huawei App Gallery and the Company’s website. Sleep Cycle offers both a freemium and premium version of the application. The premium version is accessed through a 12-month subscription and includes broader functionality compared to the freemium version such as expanded sleep tracking and insights features
As of 31 March 2021, Sleep Cycle had 2.1 million monthly active users and 820 thousand subscribers, with the application available in 13 different languages to users across more than 150 countries. The Company had as of 31 March 2021 28 employees and recorded a net revenue of SEK 163 million during the twelve-month period ended 31 March 2021. Net revenue growth amounted to 24% for the twelve-month period ended 31 March 2021. Adjusted operating profit amounted to SEK 57 million for the same period, corresponding to an adjusted operating profit margin of 35 percent.