Amido (AMIDO) Q3 2024 earnings summary

Executive summary

• Achieved 12% year-over-year net sales growth in Q3 2024, reaching 7.6 MSEK, with positive EBITDA of 1.5 MSEK compared to -1.2 MSEK last year.

• Annual recurring revenue (ARR) increased 25% year-over-year to 25.6 MSEK, reflecting a successful shift to a scalable subscription model.

• Largest deal in company history signed with GotlandsHem, valued at 8.8 MSEK over four years, covering 4,500 residences.

• Strengthened partnership with Västra Götalandsregionen through a critical integration project.

• Ongoing focus on profitable growth, process optimization, and product development to meet market needs.

Financial highlights

• Q3 2024 net sales: 7.6 MSEK (up 12% year-over-year); total revenues: 10.3 MSEK.

• Q3 EBITDA: 1.5 MSEK (vs. -1.2 MSEK in Q3 2023); pre-tax result: -0.6 MSEK (vs. -2.9 MSEK); EPS: -0.02 SEK (vs. -0.11 SEK).

• Jan–Sep 2024 net sales: 25.1 MSEK (up 22% year-over-year); EBITDA: 3.9 MSEK (vs. -3.1 MSEK); pre-tax result: -3.0 MSEK (vs. -10.8 MSEK); EPS: -0.11 SEK (vs. -0.40 SEK).

• Cash and equivalents at period end: 7.4 MSEK; no credit facilities utilized.

• Solid equity ratio of 82.0% at period end.

Outlook and guidance

• Management expresses confidence in continued profitable growth, supported by improved market sentiment in the construction and real estate sectors.

• Focus remains on recurring revenue growth, process optimization, and expanding the product portfolio.