In February and in the Q3 Shareholder Update, we informed you of our decision to split AV1 and Komp into separate business units under the No Isolation umbrella. The primary benefits of this have been an increased productivity in product development, lower cost base and stability in sales with a clearer way to reach profitability for Komp. For the AV1 business unit sales have improved significantly (40% YoY) at a healthier cost base, and we are moving ahead with product improvements to further enable upselling to existing customers.
To continue profiting from the split, we are taking it one step further, setting up Komp as its own legal entity, Kompany AS.
The structural change has two primary goals:
- To further enhance the positive benefits internally for both products; increased focus and flexibility through having a separate company
- To allow us to seek potential investors, partners or buyers for Komp
We are currently working with a financial advisory company to help structure the change and look for potential partners or investors for Kompany AS. If any of you want to follow the process more closely, and perhaps contribute with network or advice, please let us know.
We wish to increase our focus on AV1 and be able to keep investing in the years to come, and we are currently finalising our plan and budget for 2024. A more detailed update on numbers, the structural process and our future plans for AV1 will be presented in the next Shareholder Update.
CEO & co-founder