Cell Impact (CI) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 were SEK 5.6 million, a 40% decrease year-over-year and lower than the previous quarter.

• Operating loss (EBIT) improved to SEK -17.7 million from SEK -23.7 million year-over-year, reflecting cost-saving measures.

• Cash flows from operating activities turned positive at SEK 0.8 million, compared to SEK -26.3 million in Q3 2023.

• Financing is considered sufficient for 2025 following a successful rights issue and warrant exercise, raising approximately SEK 18 million after the period.

• Production capacity and automation advanced, including a new collaboration for galvo welding technology.

Financial highlights

• Net sales: SEK 5.6 million (Q3 2023: SEK 9.3 million); Jan–Sep 2024: SEK 35.1 million (Jan–Sep 2023: SEK 46.4 million).

• Operating loss (EBIT): SEK -17.7 million (Q3 2023: SEK -23.7 million); Jan–Sep 2024: SEK -59.4 million (Jan–Sep 2023: SEK -80.7 million).

• Loss after tax: SEK -17.9 million (Q3 2023: SEK -24.9 million); Jan–Sep 2024: SEK -62.2 million (Jan–Sep 2023: SEK -83.9 million).

• Cash and cash equivalents at period end: SEK 18.2 million (Q3 2023: SEK 35.1 million); SEK 30.9 million as of November 5, 2024.

• Debt/equity ratio: 84% (Q3 2023: 75%).

Outlook and guidance

• Cost-saving programs have stabilized cash outflows, and current financing is deemed sufficient for 2025.

• Focus remains on scaling production, automation, and expanding partnerships to support large-scale flow plate manufacturing.