The ongoing bike boom helped Mips to raise its total sales by 48 percent to 83 million Swedish kronor (€8.17m-$9.90m) in the first quarter of 2021. The growth was driven by a 55 percent increase to SEK 78 million (€7.71m-$9.31m) in its dominant Sport segment, where the number of clients for its technology went up to 109 from 98 a year earlier. The ingredient brand said that the demand for all kinds of sports helmets increased during the period, especially in the area of bike helmets, causing challenges for the factories that produce them and leading the company to predict that inventory levels will not normalize until the next season. Because of a soft ski season, sell-out rates were low in South and Central Europe, Mips said. They were better than expected in North America and the Nordics. The company’s net income rose by 166.7 percent to SEK 32 million (€3.16m-$3.82m). The gross margin improved by 1.7 percentage points to 72.5 percent, and the operating margin (Ebit) jumped by 18.3 percentage points to 47.4 percent.