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Zwipe (ZWIPE) investor relations material

Zwipe has been delisted

Zwipe 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 summary7 Nov, 2024

Executive summary

  • Shifted focus from expanding partner network to targeting end user enterprises for PoCs, pilots, and orders of biometric access cards.

  • Multiple ongoing tests with major enterprises in various sectors, with daily use of biometric access cards.

  • Confident that current engagements will lead to commercial deployments soon.

Financial highlights

  • Q3 2024 revenue was 0.4 mNOK, primarily from access products and services, compared to 1.8 mNOK in Q3 2023 from payment products and services.

  • Cash flow from operations after working capital changes was -14.8 mNOK, an improvement from -27.2 mNOK in Q3 2023 due to lower operating expenses.

  • Cash and cash equivalents at quarter-end were 10.5 mNOK, down from 48.3 mNOK a year earlier and 42.2 mNOK at the end of 2023.

Outlook and guidance

  • Projected operating expenses to decrease to approximately 2.6 mNOK per month following further personnel cost reductions.

  • Board initiated a rights issue of NOK 40 million to extend financial runway.

What drives confidence in short-term deployments?
What is the projected cash runway post-rights issue?
Explain the path to increased revenue from access.
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