Blick Global Group (BLICK) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 was 3,748 KSEK, with EBITDA at -424 KSEK and an EBITDA margin of -100% compared to -20% in Q3 2023.

• For the nine months ended September 2024, revenue was 224 KSEK, down sharply from 13,188 KSEK year-over-year.

• Strategic shift initiated with investments in CoreWeave and Klarna, marking a transformation into a focused investment company.

• A rights issue of 4 million shares at 0.56 SEK per share is planned to strengthen the financial base.

Financial highlights

• Q3 2024 EBITDA was -424 KSEK, improved from -664 KSEK in Q3 2023; EBIT was -424 KSEK versus -1,569 KSEK.

• EPS for Q3 2024 was -0.04 SEK, compared to -6.72 SEK in Q3 2023.

• For Jan–Sep 2024, EBITDA was -1,132 KSEK (vs. -2,251 KSEK), EBIT -1,132 KSEK (vs. -4,544 KSEK), and EPS -0.13 SEK (vs. -7.25 SEK).

• Cash and cash equivalents at period end were 5,563 KSEK, up from 3,056 KSEK a year earlier.

Outlook and guidance

• The company expects the transformation into an investment company to drive long-term value and is actively seeking new business opportunities.

• The rights issue is expected to raise approximately 2.2 million SEK before costs, supporting future investments.