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Sleep Cycle year-end report 2023: Continued subscription growth sums up a strong full year
February 8, 2024, 08:30
Regulatory information
Gothenburg, Sweden — 8 February, 2024

The fourth quarter in summary (October-December 2023)

  • Net sales totaled tSEK 61,254 (55,405) and increased by 10.6% (16.1%). Currency-adjusted net sales growth amounted to 5.7% (8.6%).
  • Operating profit amounted to tSEK 12,689 (4,549), with an operating margin of 20.7% (8.2%). Operating profit was affected by a non-cash impairment loss of tSEK 6,341. Excluding impairment, the margin was 31.1%.
  • Adjusted operating profit totaled tSEK 12,689 (7,351) and adjusted operating margin was 20.7% (13.3%).
  • The total number of paying subscribers at end of period was 893k (904k).
  • ARPU in the quarter totaled SEK 272 (243). Currency-adjusted ARPU totaled SEK 260.
  • Earnings per share before and after dilution for the quarter amounted to SEK 0.52 (0.18).

Full year in summary (January-December 2023)

  • Net sales totaled tSEK 236,146 (212,034) and increased by 11.4% (16.8%). Currency-adjusted net sales growth amounted to 3.1% (12.3%).
  • Operating profit amounted to tSEK 56,606 (42,807), with an operating margin of 24.0% (20.2%).
  • Adjusted operating profit totaled tSEK 61,437 (45,609) and adjusted operating margin was 26.0% (21.5%). In 2023 adjustments were made for costs related to the efficiency program.
  • ARPU for the period totaled SEK 262 (234). Currency-adjusted ARPU totaled SEK 242.
  • Earnings per share before dilution totaled SEK 2.28 (1.72) for the period. Earnings per share after dilution totaled SEK 2.28 (1.69).

Important events during the reporting period

  • On 1 November, Erik Jivmark took over as the new CEO. Erik's most recent position was at Volvo Car Mobility.
  • In November, the new Cough Radar feature was launched. Based on Sleep Cycle's data, the feature shows how coughs and colds develop in real time.
  • At an Extraordinary General Meeting on 23 November, it was resolved to implement an incentive program for the company's CEO.
  • After a strategic review, the decision was made to discontinue Sleep Cycle Kids. As a result of the discontinuation, earnings will reflect an impairment loss of SEK 6.3 million with no impact on future sales.

Important events after the period end

  • On January 23, it was announced that Sleep Cycle is reorganizing and consolidating its operations to the head office in Gothenburg.
  • The Board of Directors proposes a dividend of SEK 2.30 per share, corresponding to SEK 46.6 million, based on the number of outstanding shares as of February 7, 2024. SEK 1.30 per share constitutes an ordinary dividend and SEK 1.00 per share constitutes an extraordinary dividend for 2023.

Commenting on the quarter, CEO Erik Jivmark says:

“When summing up 2023, we can conclude that the positive trend from the third quarter continued. The number of subscribers continued to increase in the fourth quarter combined with a 72.6 % EBIT growth compared to last year. The focus on product development and conversion, combined with cost-effective user acquisition, has not only enabled us to turn around growth in the number of subscribers during the year, but has also provided an improved user experience”.

“After my first few months as CEO of Sleep Cycle, I can confirm that the company has a strong market position, a highly appreciated offering, and a competent and innovative team. During the spring, we will present an updated strategy with a focus on increased growth. Over the coming year we will endeavor to further strengthen our market position by increasing productivity in the company, capitalizing more on our data, and increasing our ability to deliver high-quality sleep analysis to our users worldwide.”.

This information offered is such that Sleep Cycle AB is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the care of the below contact person, for publication on 8 February 2024 at 8:30 CET.

The full interim report is available on  

Sleep Cycles CEO Erik Jivmark and CFO Per Andersson will give a presentation on Thursday 8 February at 9:30 CET. The presentation can be followed on

For more information please contact:

Erik Jivmark

[email protected]


Per Andersson

[email protected]
+46 70 939 5327

About Sleep Cycle

With millions of daily active users and over two billion nights analyzed in more than 150 countries, Sleep Cycle is the leading sleep tracking application and one of the most widely used solutions worldwide to improve sleep health. Sleep Cycle’s mission is to improve global health by empowering people to sleep better. Since its launch in 2009, Sleep Cycle has helped millions of people understand their sleep habits and improve their sleep.  The mobile application helps users fall asleep more easily, tracks and analyses sleep during the night, wakes the user in a light sleep phase and provides insight into how sleep quality is best improved. Sleep Cycle is one of the world’s most comprehensive sources for statistics on sleep and contributes to research and reporting on sleep worldwide. Sleep Cycle is listed on Nasdaq Stockholm under the ticker SLEEP. The head office is located in Gothenburg, Sweden.