Broadpeak (ALBPK) Q3 2024 TU earnings summary

Executive summary

• Q3 2024 revenue reached €8.7m, a 10.0% increase compared to Q3 2023.

• Nine-month 2024 revenue totaled €25.8m, nearly flat year-over-year (-0.4%).

• Strong rebound in Q3 after a 5.0% decline in H1, aligning with prior guidance.

• Orders already confirmed provide good visibility for year-end.

Financial highlights

• EMEA revenue grew 9.2% to €12.1m over nine months; Q3 up 20.4%.

• Americas revenue declined 2.9% to €10.9m over nine months; Q3 down 30.6%.

• APAC revenue fell 21.6% to €2.9m over nine months, but Q3 surged 250.7%.

• Maintenance & SaaS revenue rose 22.2% to €11.3m over nine months; Q3 up 20.7%.

• Equipment sales dropped 45.8% over nine months; Q3 down 70.7%.

Outlook and guidance

• Annual targets and 2027 ambitions reaffirmed, including revenue over €50m and 50% recurring revenue by 2027.

• Positive free cash flow and revenue growth expected for FY 2024.

• Strong sales momentum for Dynamic Ad Insertion SaaS, recently adopted by a major US client.