CM.com (CMCOM) Q4 2024 earnings summary

Executive summary

• Announced a comprehensive refinancing package, including early repayment of a €100M convertible bond and a €20M equity raise, strengthening the balance sheet and enabling focus on growth and innovation.

• Achieved record Normalized EBITDA of €18.1 million for FY 2024, up from -€0.9 million in 2023, and positive free cash flow of €3.4 million, marking a key milestone.

• Revenue grew 3% year-over-year to €274.2 million, with Q4 showing the strongest acceleration at 13% YoY, driven by Engage and Connect.

• Launched new AI-driven products, including the agentic AI platform Halo, positioning the company as an AI-first organization.

• Strategic focus on value over volume, cost discipline, and operational efficiency led to improved profitability and a leaner organization.

Financial highlights

• Gross profit grew 6% year-over-year to €83.1M, with gross margins improving to 30.3%.

• Q4 2024 revenue up 13% YoY to €74.5M; gross profit up 6% YoY to €21.8M; gross margin at 29.2%.

• Normalized OPEX declined 18% YoY to €65.0M, exceeding the target of at least 15% reduction; OPEX/Revenue ratio fell to 24.3%.

• Free cash flow positive at €3.4M for FY 2024; unrestricted cash at year-end just over €18M.

• CAPEX for FY 2024 at €17M, down 12% YoY; CAPEX/Revenue ratio improved to 6.2%.

Outlook and guidance

• EBITDA for 2025 is expected in the range of €22M–€27M, with gross profit projected to grow and OPEX to remain stable.

• Gross profit momentum anticipated to continue into 2025, with further growth targeted.

• Focus on partnerships, platform integration, and expanding AI capabilities to accelerate growth.