Briox (BRIX) Q4 2024 earnings summary

Executive summary

• Achieved record customer growth, reaching 10,537 contracted customers at year-end, up 45% year-over-year and 28% sequentially from Q3-24.

• Annual Recurring Revenue (ARR) grew 28% to 24.0 MSEK at year-end.

• Net sales for Q4-24 increased 7% year-over-year to 3,479 tkr; full-year net sales rose to 12,936 tkr from 11,942 tkr.

• EBITDA for Q4-24 was -6,054 tkr (adjusted: -3,854 tkr); full-year EBITDA was -16,548 tkr (adjusted: -14,348 tkr).

• Entered Swedish market, signed first Swedish partnership, and expanded in Estonia.

Financial highlights

• Q4-24 net sales: 3,479 tkr (3,250 tkr Q4-23); full-year: 12,936 tkr (11,942 tkr FY23).

• Q4-24 EBITDA: -6,054 tkr (-3,938 tkr Q4-23); adjusted for restructuring: -3,854 tkr.

• Q4-24 pre-tax result: -8,982 tkr (-6,657 tkr Q4-23); full-year: -28,163 tkr (-24,552 tkr FY23).

• Q4-24 EPS: -0,13 kr (-0,12 kr Q4-23); full-year EPS: -0,44 kr (-0,43 kr FY23).

• Q4-24 operating cash flow: -3,633 tkr (-3,277 tkr Q4-23); full-year: -16,618 tkr (-7,550 tkr FY23).

Outlook and guidance

• Focus on accelerating revenue conversion from new contracts and achieving positive cash flow.

• First Swedish customers expected live on platform by summer 2025.

• Continued expansion in the Baltics and new partnerships in Sweden.