Cyber_Folks (CBF) Q3 2024 earnings summary

Executive summary

• Achieved record consolidated net profit of over PLN 17 million (excluding one-offs), up 70% year-over-year, driven by organic growth and product innovation.

• Reported record quarterly revenue of PLN 185 million (+54% y/y) and adjusted EBITDA of PLN 46 million (+26% y/y).

• Over 365,000 clients globally, with strong growth in e-commerce solutions (_Stores, _Now, Sellintegro).

• Finalized sale of Profitroom shares, boosting reported net profit by PLN 47 million and reducing net debt.

• Distributed a record PLN 21.2 million dividend and executed a PLN 6.8 million share buyback.

Financial highlights

• Q3 2024 revenue: PLN 185.4 million (+54% y/y); adjusted EBITDA: PLN 45.7 million (+26% y/y).

• Normalized net profit attributable to parent: PLN 17.1 million (+70% y/y); reported net profit (with one-offs): PLN 62.3 million.

• Net cash from operations: PLN 48.5 million (+38% y/y); unlevered FCF: PLN 38.7 million (+36% y/y).

• Net debt/EBITDA reduced to 0.5x, with a target of near zero by year-end.

• LTM revenue: PLN 615 million; LTM net profit attributable to parent: PLN 74 million.

Outlook and guidance

• Focus on further ARPU growth, product portfolio expansion, and international commercialization, especially for _Now and _Stores.

• Continued investment in AI-driven and e-commerce solutions, with plans for global expansion, especially in the US.

• Intention to maintain dynamic dividend growth and pursue further M&A opportunities.