According to the recently submitted annual report, net sales amounted to 27.5 million Swedish krona. This represents an increase from the previous year's figure of 18 million Swedish krona. While sales have increased, the company has also maintained its profitability. Operating profit totaled almost 2 million Swedish krona, compared to 1.1 million Swedish krona during the previous twelve-month period. Profit after financial items stood at just over 1.5 million Swedish krona.
In the annual report, management comments on the development. The company states that net sales increased by approximately 50 percent compared to the previous year, and that growth was primarily driven by increased demand for the skincare range and new product launches.
Physical expansion and investments
Common Clouds has previously expanded its distribution from its own e-commerce platform to also include physical stores at chains such as H&M and Kronans Apotek. This strategy continued during the past year. The report shows that the company has strengthened its market presence and physical distribution during the year. This has been achieved through expanded collaborations with established players such as H&M and Kronans Apotek, as well as through expansion into the Danish market via Matas, but also through continued growth in its own e-commerce platform, the company states in the report.
The increased business volume has also been noticed internally. During the year, the average number of employees grew from three to four. The company explains in the annual report that the organization has been strengthened with key expertise in customer experience and reseller relations to support the company's continued growth. These recruitments are part of a broader development phase for the business.
The company summarizes the year by stating that the company showed continued good profitability, despite increased investments in marketing, product development, clinical trials and a new web platform.