C100 (C100) Q4 2024 earnings summary

Executive summary

• Net sales for Q4 2024 reached 920 TSEK, up from 198 TSEK in Q4 2023; full-year sales were 1,768 TSEK, up from 805 TSEK year-over-year.

• Operating loss for Q4 improved to -224 TSEK from -1,702 TSEK; full-year operating loss was -4,559 TSEK, a significant improvement from -9,680 TSEK in 2023.

• New customer onboarding and increased usage of analysis services contributed to revenue growth.

• Integration with Agdir Drift AS led to new customer contracts and a shorter sales cycle.

Financial highlights

• Q4 net income was -258 TSEK, compared to -1,727 TSEK in Q4 2023; full-year net income was -4,652 TSEK, improved from -9,705 TSEK year-over-year.

• Earnings per share for Q4 were -0.0158 SEK (-0.1669); full-year EPS was -0.286 SEK (-0.9382) year-over-year.

• Equity ratio at year-end was 45%, down from 75% at the end of 2023.

• Cash and cash equivalents at year-end were 125 TSEK, down from 1,893 TSEK.

• No dividend proposed for 2024.

Outlook and guidance

• Ongoing discussions with potential customers ahead of the 2025 growing season, targeting advisors, food producers, cooperatives, and large agricultural companies.

• Increased interest in services in Northern Europe, with strong results from crop-specific analysis tests.

• Awaiting shareholder approval for the asset transfer and merger with Agdir Drift AS, with a meeting scheduled for March 2025.