Aike Media (AIKE) Q3 2024 earnings summary

Executive summary

• Syncro Group completed a major restructuring, divesting Gigger AB for SEK 32.5m to focus on scalable influencer marketing and reduce costs by SEK 2m per quarter from 2025.

• Strategic partnerships and a unified brand strategy are driving growth, with ambitions to become a leading European player and prepare for a potential Nasdaq First North listing in 2025.

Financial highlights

• Q3 2024 net sales were SEK 37.5m, compared to SEK 48.7m in Q3 2023; adjusted for Gigger, sales were flat year-over-year.

• Q3 2024 EBITDA was SEK 22.5m, up from SEK -5.5m in Q3 2023, reflecting restructuring gains.

• Net income for Q3 2024 was SEK 17.3m, compared to SEK -42.9m in Q3 2023, aided by the Gigger divestment.

• Cash flow for Q3 2024 was SEK -2.2m, down from SEK 0.6m in Q3 2023.

• For the first nine months, net sales were SEK 126.4m (SEK 139.9m in 2023); adjusted for Gigger, SEK 126.4m vs SEK 128.6m.

Outlook and guidance

• Cost base reductions and focus on core influencer marketing are expected to support sustainable, scalable growth.

• Targeting positive EBITDA by Q2 2025 and preparing for a potential Nasdaq First North listing in 2025.