IRRAS Management

Management criteria checks 2/4

IRRAS' CEO is Will Martin, appointed in Jan 2018, has a tenure of 5.83 years. total yearly compensation is SEK6.68M, comprised of 61.2% salary and 38.8% bonuses, including company stock and options. directly owns 0.018% of the company’s shares, worth SEK32.08K. The average tenure of the management team and the board of directors is 3.4 years and 6.8 years respectively.

Key information

Will Martin

Chief executive officer

SEK 6.7m

Total compensation

CEO salary percentage	61.2%
CEO tenure	5.8yrs
CEO ownership	0.02%
Management average tenure	3.4yrs
Board average tenure	6.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Will Martin's remuneration changed compared to IRRAS's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2023	n/a	n/a	-SEK 196m
Mar 31 2023	n/a	n/a	-SEK 193m
Dec 31 2022	SEK 7m	SEK 4m	-SEK 167m
Sep 30 2022	n/a	n/a	-SEK 164m
Jun 30 2022	n/a	n/a	-SEK 141m
Mar 31 2022	n/a	n/a	-SEK 131m
Dec 31 2021	SEK 3m	SEK 2m	-SEK 136m

Compensation vs Market: Will's total compensation ($USD612.97K) is above average for companies of similar size in the Swedish market ($USD229.15K).

Compensation vs Earnings: Will's compensation has increased whilst the company is unprofitable.

CEO

Will Martin (48 yo)

5.8yrs

Tenure

SEK 6,679,000

Compensation

Mr. Will Martin has been the Chief Executive Officer at IRRAS AB (publ) since July 01, 2021. He had been the Chief Commercial Officer and a member of the executive management team of IRRAS AB (publ) (IRRAS...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Will Martin	President & CEO	5.8yrs	SEK 6.68m	0.018% SEK 32.1k
Kleanthis Xanthopoulos	Executive Director	2.3yrs	SEK 530.00k	1.15% SEK 2.1m
Griffen Stapp	Interim Chief Financial Officer	2.3yrs	no data	0.0022% SEK 4.0k
Sten Gustafsson	Director of Investor Relations	2.7yrs	no data	no data
Kellie Fontes	Vice President of Human Capital	5.8yrs	no data	0.083% SEK 151.0k
Niloufa Insanally	Head of Regulatory Affairs	4.2yrs	no data	no data

3.4yrs

Average Tenure

55yo

Average Age

Experienced Management: IRRAS's management team is considered experienced (3.4 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Kleanthis Xanthopoulos	Executive Director	8.8yrs	SEK 530.00k	1.15% SEK 2.1m
Marios Fotiadis	Chairman of the Board	11.8yrs	SEK 540.00k	20.2% SEK 36.7m
Anita Tollstadius	Independent Director	6.8yrs	SEK 380.00k	0.010% SEK 18.4k
Christos Panotopoulos	Special Advisor & Member of Clinical Advisory Board	5.4yrs	no data	no data
Catherine Gilmore-Lawless	Independent Director	4.5yrs	SEK 471.00k	no data

6.8yrs

Average Tenure

64yo

Average Age

Experienced Board: IRRAS's board of directors are considered experienced (6.8 years average tenure).

IRRAS Management

Management criteria checks 2/4

Key information

Recent management updates

Insufficient new directors

IRRAS AB (Publ) Announces Resignation of Eva Nilsagård as a Board Member

Insufficient new directors

Insufficient new directors

Irras Announces the Recruitment of Sten Gustafsson as Director of Investor Relations

Recent updates

IRRAS AB (publ) Applies for Its Shares to Be Delisted from Nasdaq Stockholm

IR Holding Bidco Inc. Requests Compulsory Buy-Out and IRRAS Applies for Delisting

Insufficient new directors

Legacy Capital Partners S.C.A. I, Spetses Investments Ltd, Bacara Holdings Limited, Lexington Holding Assets Ltd and Panormos Holding Limited completed the acquisition of a 26.6% stake in IRRAS AB (publ) (OM : IRRAS).

IRRAS AB (publ) to Report Q2, 2023 Results on Aug 04, 2023

IRRAS AB (publ) Provides Sales Guidance for the Second Quarter of 2024

IRRAS AB (Publ) Announces Resignation of Eva Nilsagård as a Board Member

Price target increased by 69% to kr5.00

First quarter 2023 earnings released: kr0.07 loss per share (vs kr0.42 loss in 1Q 2022)

Consensus revenue estimates decrease by 25%

Full year 2022 earnings released: kr0.52 loss per share (vs kr1.89 loss in FY 2021)

IRRAS AB (publ) Announces That the Publication of the First Comparative Study

IRRAS AB (publ) to Report Q4, 2023 Results on Feb 21, 2024

IRRAS Receives US FDA 510(K) Clearance for Its Next Generation IRRAflow Control Unit

Is IRRAS (STO:IRRAS) In A Good Position To Deliver On Growth Plans?

IRRAS AB (publ) SHARE AK to Be Deleted from OTC Equity

Price target increased to kr5.00

Insufficient new directors

IRRAS AB (publ) to Report Q4, 2022 Results on Feb 22, 2023

IRRAS AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 214.599618 million.

Irras Announces First Patient Treatments At Mount Sinai Health System in New York as Part of the Dive Study

Second quarter 2022 earnings released: kr0.46 loss per share (vs kr0.40 loss in 2Q 2021)

IRRAS AB Provides Revenue Guidance for the Year 2022

Insufficient new directors

Price target decreased to kr7.00

IRRAS AB (publ) Announces First Global Patient Treatment with Next-Generation IRRAflow® System

IRRAS AB (publ) Launches Next-Generation of the IRRAflow System in the United States

Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind

IRRAS AB (publ) to Report Q2, 2022 Results on Jul 22, 2022

Consensus revenue estimates fall by 32%

IRRAS Announces Presentation of the Dataset to Date to Document Clinical Outcomes Using Its IRRAflow system

IRRAS Announces First Patients Enrolled in ACTIVE Study, a Comparative Clinical Trial Designed to Confirm IRRAflow's Efficacy to Traditional Passive Drainage

Here's Why We're A Bit Worried About IRRAS' (STO:IRRAS) Cash Burn Situation

Third quarter 2021 earnings released: kr0.34 loss per share (vs kr0.47 loss in 3Q 2020)

IRRAS AB (publ) Demonstrates Ability to Treat Pyogenic Ventriculitis Through Targeted Delivery of Antibiotics in Case Series Published in Neurosurgery Open

We Think IRRAS (STO:IRRAS) Needs To Drive Business Growth Carefully

Second quarter 2021 earnings released: kr0.40 loss per share (vs kr0.55 loss in 2Q 2020)

IRRAS AB Receives Extension of Its MDSAP Certification and Scope Expansion of MDSAP & ISO 13485:2016 Certifications

IRRAS AB Announces Publication of A Case Report from Buffalo General Medical Center, Highlights Clinical Superiority of IRRAflow Treatment Versus Traditional Drainage

Price target decreased to kr8.70

First quarter 2021 earnings released: kr0.58 loss per share (vs kr1.19 loss in 1Q 2020)

We Think IRRAS (STO:IRRAS) Needs To Drive Business Growth Carefully

Irras Announces the Recruitment of Sten Gustafsson as Director of Investor Relations

Analysts update estimates

Full year 2020 earnings released: kr24.64 loss per share (vs kr5.61 loss in FY 2019)

Price target lowered to kr10.25

Earnings beat expectations, revenue disappoints

New 90-day low: kr6.11

Price target lowered to kr11.00

Analysts update estimates

Irras AB Announces an Exclusive Distribution Agreement with Medical Innovation Solutions

IRRAS AB Announces Exclusive Distribution Agreement with Anade SA

New 90-day high: kr9.00

IRRAS AB Announces an Exclusive Distribution Agreement with KM Innovations BV

IRRAS AB Announces Breakthrough Technology Purchasing Agreement with Premier for Hummingbird ICP Monitoring Products

Third quarter 2020 earnings released: kr0.47 loss per share

Revenue and earnings miss expectations

Analysts lower revenue estimates to kr10.7m

Price target lowered to kr12.00

New 90-day high: kr6.98

Analysts increase revenue estimates to kr27.5m

First half earnings released

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members