Amido (AMIDO) Q4 2024 earnings summary

Executive summary

• Achieved 25% year-over-year net sales growth to 35.1 MSEK and improved EBITDA to 5.8 MSEK from -4.5 MSEK.

• Q4 net sales rose 32% to 10.0 MSEK, with EBITDA at 1.9 MSEK versus -1.4 MSEK in Q4 2023.

• Recurring revenues (ARR) increased to 26.0 MSEK, now 71% of total net sales.

• Churn remained low at 1.2% for the year, reflecting strong customer retention.

• Strategic partnerships and largest deal to date (GotlandsHem, 8.8 MSEK) contributed to growth.

Financial highlights

• Full-year revenues: 45.7 MSEK (up from 40.2 MSEK); Q4 revenues: 12.5 MSEK (up from 10.4 MSEK).

• Full-year EBITDA: 5.8 MSEK (vs. -4.5 MSEK); Q4 EBITDA: 1.9 MSEK (vs. -1.4 MSEK).

• Result before tax: -7.5 MSEK (improved from -15.4 MSEK); Q4 result before tax: -4.6 MSEK (unchanged year-over-year).

• EPS: -0.28 SEK (vs. -0.57 SEK); Q4 EPS: -0.17 SEK (unchanged year-over-year).

• Adjusted result before tax (excluding write-downs and value changes): -2.8 MSEK (vs. -11.0 MSEK including restructuring costs).

Outlook and guidance

• Management sees a recovering market in real estate and construction, with pent-up demand for digitalization and access solutions.

• Early product lifecycle for Opna and Smart Passage indicates continued growth potential.

• Available liquidity and earnings capacity expected to secure operations for the next 12 months.