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ZignSec (ZIGN) investor relations material

ZignSec Q3 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2024 earnings summary25 Nov, 2024

Executive summary

  • Net revenue for Q3 2024 was SEK 21.7 million, unchanged year-over-year, with EBITDA improving to SEK -1.0 million from SEK -5.4 million due to lower personnel and consulting costs.

  • G2 Acquisition Inc. made a public cash offer for all shares and warrants, later controlling over 94% of votes and capital, with plans to delist and acquire remaining shares.

  • Agreements signed with Vivino and Ninja Casino to provide KYC and customer verification services, expanding reach and validating product offerings.

  • Achieved a milestone of 400 monthly invoiced customers, the highest to date, despite challenges in the South American KYC segment.

Financial highlights

  • Net revenue for Q3 2024 was SEK 21.7 million, flat year-over-year; EBITDA improved to SEK -1.0 million from SEK -5.4 million.

  • Operating loss (EBIT) for Q3 was SEK -17.4 million, compared to SEK -24.8 million last year.

  • Cash and cash equivalents at quarter-end were SEK 20.6 million, up from SEK 9.4 million a year ago.

  • Operating cash flow for Q3 was SEK -1.5 million, an improvement from SEK -7.7 million in Q3 2023.

  • Earnings per share for Q3 was SEK -0.087, compared to SEK -0.370 in Q3 2023.

Outlook and guidance

  • Focus remains on growth and achieving positive operating cash flow, with continued investment in platform development and advanced features.

  • Strategic diversification across sectors and geographies is expected to support operational stability amid market fluctuations.

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Frequently asked questions

ZignSec AB operates a platform providing digital identity services for companies to identify their customers digitally in real-time. Its platform includes a range of digital verification methods, including electronic ID, online ID scanning, register checks, PEP and sanction checks, real-time payment and phone number validation, banking API and income analysis, and real-time AML check.

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