Heeros
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Heeros (HEEROS) investor relations material

Heeros has been delisted

Heeros Q4 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2024 earnings summary4 Feb, 2025

Executive summary

  • Achieved strong Q4 performance, exceeding full-year targets in new sales and profitability despite a decline in transaction volumes impacting revenue growth.

  • Revenue grew 1% year-over-year to €11.4 million, with improved profitability, cash flow, and new sales compared to 2023.

  • Adjusted EBITDA increased 10% to €2.9 million, representing 26% of revenue.

  • Net income rose to €619 thousand from €177 thousand, and operating cash flow surged 86% to €3.8 million.

  • Accountor Finago Oy made a recommended public cash tender offer for all shares and options in November 2024.

Financial highlights

  • Q4 revenue rose 3% year-over-year to €2.9M; full-year revenue up 1% to €11.4M.

  • Q4 EBITDA dropped 80% to €0.2M due to one-off restructuring and tender offer costs; adjusted EBITDA for Q4 down 27% to €0.6M.

  • Full-year adjusted EBITDA increased 10% to €2.9M; EBITDA-Cash up 39% to €1.75M.

  • Operating profit (EBIT) up 156% to €749 thousand; adjusted EBIT up 117% to €1.0 million.

  • Earnings per share (EPS) at €0.12 (diluted €0.11); equity ratio 70%, ROE 8%.

Outlook and guidance

  • No financial guidance for 2025 due to the pending Accountor Finago Oy tender offer.

  • Management highlights improved sales execution and expects continued focus on EBITDA-Cash improvement.

  • Management sees strong positioning for 2025, with readiness to pursue growth and profitability opportunities.

  • Order intake for ARR in Q4 was €199K, up 77% quarter-on-quarter and 28% year-over-year, indicating positive momentum for future growth.

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Frequently asked questions

Heeros Oyj is a technology company that specializes in providing cloud-based financial management solutions. The company's product portfolio includes tools for handling purchase and sales invoices, electronic archiving, and a mobile app for financial administration tasks, among others. They also offer software tailored for both sole proprietors and small businesses, facilitating processes like invoicing, quoting, and billing. In addition to software products, Heeros Oyj delivers services such as software implementation, training, and support, catering to businesses and accounting firms. Founded in 2000, the company is headquartered in Helsinki, Finland, and its shares are listed on the Helsinki Stock Exchange.