Cloudia Research (AGAIN) H1 2024 earnings summary

Executive summary

• Value of production rose 24% year-over-year to €4.25 million as of June 30, 2024, reflecting strong business growth.

• Net profit increased 45% year-over-year to €0.33 million, driven by higher revenues and operational efficiency.

• Direct customer revenues grew significantly, now representing 72.5% of total revenues versus 44.9% a year ago, validating the strategic focus.

• Workforce expanded from 72 to 91 employees, mainly in technical roles to support service growth.

• International expansion advanced with the opening of a subsidiary in Valencia, Spain, and the launch of the first Academy abroad.

Financial highlights

• Net revenue: €4.2 million (vs. €3.4 million in H1 2023).

• EBITDA: €498 thousand (vs. €470 thousand), margin at 12%.

• EBIT: €168 thousand (vs. €323 thousand), margin at 5%.

• Net profit: €332 thousand (vs. €230 thousand), margin at 8%.

• Net financial position improved to net cash of €1.46 million as of June 30, 2024, from net debt of €0.72 million at year-end 2023.

Outlook and guidance

• Growth prospects remain strong, with continued expansion in cloud-based digitization, ERP, and AI services despite macroeconomic uncertainties.

• Strategic priorities include expanding the service portfolio, investing in staff training, and accelerating internationalization.

• No direct exposure to Russia/Ukraine or Israel/Palestine conflicts; indirect impact limited to higher service costs, which are passed on to clients.