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% of total revenues versus 45% a year ago, validating the strategic focus.

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

Financial highlights

• Revenues from sales and services reached €3.13 million, up 6% year-over-year, with other revenues and income totaling €1.12 million.

• EBITDA increased 6% year-over-year to €0.50 million, benefiting from a €0.47 million tax credit related to the IPO.

• EBIT was €0.17 million, down from €0.32 million in the prior year, with a margin of approximately 5% on revenues.

• 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.

• Cash flow from operating activities was €0.69 million for the first half of 2024.

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.