Briox (BRIX) Q3 2024 earnings summary

Executive summary

• Q3 2024 net sales increased 6% year-over-year to 3,200 tkr, with ARR up 23% to 21.1 Mkr and customer base growing 35% to 8,209.

• EBITDA improved to -3,013 tkr from -3,921 tkr year-over-year; operating loss narrowed to -5,987 tkr from -6,402 tkr.

• CEO transition completed with Mikael Lindblom taking over; new app for micro-entrepreneurs launched and entry into the Swedish market announced.

Financial highlights

• Q3 2024 net sales: 3,200 tkr (up from 3,020 tkr); nine-month net sales: 9,458 tkr (up from 8,693 tkr).

• Q3 EBITDA: -3,013 tkr (improved from -3,921 tkr); nine-month EBITDA: -10,494 tkr (vs. -10,562 tkr).

• Q3 operating result: -5,987 tkr (vs. -6,402 tkr); nine-month operating result: -19,269 tkr (vs. -17,856 tkr).

• Q3 net result: -5,896 tkr (vs. -6,337 tkr); EPS: -0.09 kr (vs. -0.11 kr).

• Cash flow from operations Q3: -4,567 tkr (vs. 1,554 tkr); cash position at period end: 21,711 tkr.

Outlook and guidance

• Focus remains on achieving positive cash flow and scaling through partner strategy.

• Entry into the Swedish market expected to provide significant growth opportunities.