Vaxxa reports strong revenue growth for the first quarter. Net sales amounted to SEK 17.9 million (12.2), corresponding to an increase of about 47 percent. Operating profit deteriorated to SEK -1.7 million (-0.7), while EBITDA amounted to SEK -1.1 million (-0.1). Profit before tax amounted to SEK -1.7 million (-0.7). According to CEO Karl Frindberg, growth was driven by increased inflow of cases and marketing efforts, which contributed to a larger customer base. At the same time, the company has continued to restructure operations with a higher share of in-house staff, which has increased personnel costs.The company says that a new pricing system had an impact toward the end of the quarter and contributed to higher revenue levels. The CEO also emphasizes that the company reported positive cash flow during the quarter."At this stage, the company continues to prioritize growth in revenue, customer base and market share. Agrowing customer volume creates significant economies of scale because a large part of the cost base is fixed. As the number of customers and completed transactions increases, margins therefore improve gradually while the market position is strengthened. The larger customer base also creates increased recurring revenue and provides good conditions for gradually higher profitability as introductory prices and promotional levels return to a more normal level", Frindberg writes in the report. Key figures, SEK millionActual outcome current periodComparison periodChange versus previous year (%)Revenue17.912.246.5%EBITDA-1.1-0.1—Profit before tax-1.7-0.7—Earnings per share, SEK-0.04-0.02—