Bittium (BITTI) Q3 2024 earnings summary

Executive summary

• Net sales for January–September 2024 increased by 4.9% year-over-year to €52.0 million, with operating result improving to €2.6 million from a loss of €5.3 million.

• Order backlog grew significantly to €39.4 million, and cash flow from operating activities rose to €10.8 million.

• Strategic focus on profitable growth, with efficiency and profitability measures yielding results.

Financial highlights

• Q3 2024 net sales were €14.0 million, up 0.8% year-over-year; operating result improved to €-0.3 million from €-2.1 million.

• January–September 2024 net sales reached €52.0 million (+4.9% y/y); operating result €2.6 million (5.1% margin).

• Earnings per share for the period were €0.048, up from €-0.168 year-over-year.

• Cash and liquid assets at period end were €11.4 million; net cash flow improved to €3.0 million from €-9.4 million.

• R&D expenses decreased to €10.6 million (20.4% of net sales) from €15.1 million (30.4%).

Outlook and guidance

• 2024 net sales expected at €85–95 million (2023: €75.2 million); operating result forecasted at €7.0–9.5 million (2023: €-4.3 million).