Coheris (COH) H2 2024 earnings summary

Executive summary

• Revenue reached €14.94M in 2024, up 2.2% year-over-year, driven by a 14.1% increase in subscription sales, now 51% of total revenue.

• Net income rose to €3.45M from €3.05M in 2023, reflecting improved cost control and business model transition.

• Cash position at year-end was €0.36M, with equity at €20.7M and net cash position of €8.96M.

• Dividend of €0.08 per share proposed, following a similar payout in 2023.

• No significant post-closing events or new litigation identified.

Financial highlights

• Operating income (IFRS) increased to €3.23M from €2.65M year-over-year.

• EBITDA not explicitly stated; operating margin improved due to lower external charges.

• Annual Recurring Revenue (ARR) rose 1.9% to €10.3M.

• Service revenue declined 7.8% to €3.8M, now 28.5% of total revenue.

• R&D tax credit of €638K recognized for innovation projects.

Outlook and guidance

• 2025 strategy focuses on accelerating the subscription model, targeting niche markets, and integrating AI technologies.

• Continued R&D investment planned, especially in CRM, BI, and AI modules.

• No material exposure to Russia/Ukraine conflict or related sanctions.