Alteco Medical (ALTE) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 were 695,389 SEK, down from 1,160,762 SEK year-over-year; nine-month sales totaled 2,041,169 SEK, a significant decrease from 5,164,585 SEK in the prior year.

• Net loss after financial items improved to -1,041,336 SEK in Q3 (from -1,673,417 SEK) and was -3,912,713 SEK for the nine months (vs. -3,562,715 SEK year-over-year).

• Cash flow from operating activities was -67,093 SEK in Q3 and -2,756,787 SEK for the nine months, reflecting ongoing negative cash generation.

Financial highlights

• Gross margin for the nine months was 45%, down from 65% last year, due to lower sales volume and sales in lower-margin markets.

• Sales expenses decreased to -1,595,939 SEK (from -2,778,300 SEK), admin expenses to -2,670,695 SEK (from -3,252,071 SEK), and R&D costs to -456,909 SEK (from -789,484 SEK) for the nine months.

• EPS for Q3 was -0.01 SEK (vs. -0.03 SEK), and for the nine months -0.03 SEK (vs. -0.06 SEK).

Outlook and guidance

• The company is considering a new share issue to strengthen its financial position.