Captii (AWV) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue rose 39.6% YoY to S$4.839m, while 9M revenue fell 16.6% to S$11.383m; net losses widened in both periods.

• Higher gross margins partly offset revenue pressure, but fair value losses on venture investments and foreign exchange losses weighed heavily on results.

Financial highlights

• Q3 revenue was S$4.839m vs S$3.465m YoY; gross profit was S$2.879m vs S$1.627m.

• Q3 net loss was S$4.351m vs S$0.390m; 9M net loss was S$7.215m vs S$0.091m.

• 9M revenue was S$11.383m vs S$13.653m; gross profit edged up to S$6.114m from S$6.046m.

• Q3 fair value loss on unquoted investments was S$4.465m; the 9M loss was S$6.388m, compared with a S$0.016m loss in 9M 2023.

• Basic and diluted EPS were losses of 8.64 cents in Q3 and 16.41 cents in 9M, vs losses of 0.71 cents and 0.13 cents, respectively.

Outlook and guidance

• Management expects customers to continue pursuing projects and initiatives, while contract-in-hand work progresses; larger system sales and uncommitted managed-service contracts may be deferred or abandoned.

• No profit forecast had been issued for the period under review.