Acuvi (ACUVI) Q4 2024 earnings summary

Executive summary

• Net sales for Q4 2024 were 43 MSEK, down 20% year-over-year, but EBIT margin improved to 14% from 2%.

• Full-year 2024 net sales reached 178 MSEK, a 7% decrease from 2023, with EBIT up to 25 MSEK (14% margin).

• EBITDA for 2024 was 37 MSEK, adjusted for a one-time royalty in 2023, representing a 20% underlying improvement.

• Order book for early 2025 is strong, with significant orders from Intuitive Surgical expected to drive record Q1 revenues.

Financial highlights

• Q4 gross margin rose to 66% (51% in Q4 2023), aided by inventory revaluations; adjusted gross margin was 61%.

• Q4 EBITDA was 9.1 MSEK (21% margin), EBIT 5.9 MSEK (14% margin).

• Full-year EPS was 1.20 SEK, up from 0.25 SEK in 2023.

• Cash flow from operations for 2024 was 26.2 MSEK; cash at year-end was 21.0 MSEK.

Outlook and guidance

• EBITDA guidance for 2025 is at least 50 MSEK, a 35% increase over 2024.

• Targets for 2026 and 2027 are EBITDA above 65 MSEK and 85 MSEK, respectively.

• Q1 2025 revenues expected to be among the highest in company history, driven by expanded US sales.