Attana (ATANA) Q3 2024 earnings summary

Executive summary

• Q3 revenue was significantly below expectations, with net sales of 0.14 MSEK compared to 1.5 MSEK year-over-year.

• One-time costs of 1.5 MSEK related to downsizing and relocation impacted results.

• A rights issue of 25.8 MSEK was proposed to strengthen the balance sheet and reduce interest burden.

• Positive scientific publications by a key customer highlight the value of Attana's technology.

• October invoicing exceeded monthly operating costs, indicating a positive trend for Q4.

Financial highlights

• Net sales for Q3: 0.14 MSEK (1.5 MSEK same quarter last year).

• Operating result: -3.5 MSEK (-2.1 MSEK year-over-year).

• Result after financial items: -4.2 MSEK (-2.6 MSEK year-over-year).

• Result per share: -0.0097 SEK (-0.0096 SEK year-over-year).

• October invoicing: 1.1 MSEK, above monthly operating costs of 0.7 MSEK.

Outlook and guidance

• Q4 pipeline is promising, with expectations of improved sales despite slow procurement processes.

• Management expects cost base to now match anticipated sales after recent adjustments.

• Rights issue, with commitments and guarantees, is expected to secure financial stability.