Anoto Group (ANOT) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 declined 37% year-over-year to 5 MSEK, with a gross margin of 52% compared to 67% last year.

• Operating loss for Q3 was -15 MSEK, compared to a profit of 128 MSEK in Q3 2023, which included a one-time gain from the deconsolidation of KAIT.

• Net loss for Q3 was -27 MSEK (-0.08 SEK per share), versus a profit of 122 MSEK (0.45 SEK per share) last year.

• For Jan–Sep 2024, net sales fell 21% to 24 MSEK, with a net loss of -46 MSEK.

• The company launched the new "LivePen" product and app in October, aiming to revitalize its retail offering.

Financial highlights

• Q3 net sales: 5 MSEK (8 MSEK Q3 2023), gross margin: 52% (67%).

• Q3 operating result: -15 MSEK (128 MSEK Q3 2023, including 137 MSEK one-time gain).

• Q3 net result: -27 MSEK (122 MSEK Q3 2023).

• Jan–Sep net sales: 24 MSEK (30 MSEK), gross margin: 57% (66%).

• Jan–Sep operating result: -45 MSEK (98 MSEK), net result: -46 MSEK (99 MSEK).

Outlook and guidance

• The "LivePen" launch is expected to benefit from holiday sales and is the first step in a new brand strategy.

• User feedback from LivePen will inform future product and software development.

• Recent capital increases secure funding for continued R&D, manufacturing, and sales capacity expansion.