Q3 2020 MIPS AB Earnings Call Transcript
Ladies and gentlemen, welcome to the MIPS Q3 Report 2020. Today, I'm pleased to present to you CEO, Max Strandwitz. (Operator Instructions) Speaker, please begin.
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Yes. Good morning. My name is Max Strandwitz, and I am the CEO of MIPS. I will take you through the Q3 results.
And if we start with the key highlights, we did see strong performance in the quarter with 94% net sales growth. We did see an organic growth of 108%, and the increase in sales is mainly driven by sales to bike helmets, but you also need to remember that we had a soft comparator in prior year due to the implementation of tariffs.
We continue to see high customer interaction with a large amount of new projects in all the 3 categories we operate in. We did launch our first Team MIPS, and our first athlete out is the skier Henrik Harlaut.
We do see good consumer demand, mainly driven by sales to bike helmets, good growth anticipated also coming quarters and our long
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