Carbiotix (CRBX) Q3 2024 earnings summary

Executive summary

• Strategic shift from LinkGut to NutraCycle led to lower revenue but is aimed at long-term growth and sustainability.

• Thirteen new NutraCycle feasibility projects initiated in Q3, expanding the customer pipeline to 16 projects.

• Focus remains on commercializing NutraCycle and expanding international presence in the food industry.

Financial highlights

• Q3 2024 net sales: 90,503 SEK (vs. 757,552 SEK Q3 2023); nine-month net sales: 868,020 SEK (vs. 1,167,130 SEK 2023).

• Q3 result after financial items: -4,058,093 SEK (vs. -2,402,344 SEK); nine-month result: -12,552,099 SEK (vs. -9,219,628 SEK).

• Q3 EPS: -1.08 SEK (vs. -0.12 SEK); nine-month EPS: -3.34 SEK (vs. -0.44 SEK).

• Cash and cash equivalents at period end: 5,044,379 SEK (vs. 3,281,726 SEK 2023).

• Solid equity ratio of 94% (vs. 92% 2023).

Outlook and guidance

• Optimism for Q4 2024 with continued focus on NutraCycle commercialization and international expansion.

• Ongoing investments in research and innovation to maintain leadership in onsite upcycling.