CM.com (CMCOM) Q3 2024 TU earnings summary

Executive summary

• Achieved record gross profit for the second consecutive quarter, with improved EBITDA outlook for FY 2024.

• Operational momentum supported by new product launches, contract wins, and international expansion.

• Continued investment in AI, with the launch of the AI Playground tool and integration of generative AI across platforms.

Financial highlights

• Revenue grew 3% year-over-year to €65.4 million in Q3 2024.

• Gross profit increased 6% year-over-year to €21.1 million, with gross margin rising to 32.2%.

• EBITDA improved to €4.7 million from €-0.8 million in Q3 2023; normalized OPEX decreased 19% to €16.4 million.

• Annual Recurring Revenue up 7% year-over-year to €33.6 million.

• Number of FTEs reduced by 14% year-over-year to 676, reflecting efficiency gains.

Outlook and guidance

• EBITDA guidance for FY 2024 raised to €16-18 million from €14-18 million.

• Normalized OPEX expected to decrease at least 15% year-over-year in FY 2024.

• Free Cash Flow expected to turn positive in H2 2024.