Exalt (EXALT) Q3 2024 earnings summary

Executive summary

• Revenue grew 2.5% in Q3 2024 compared to Q3 2023, driven by a new business strategy and increased order intake.

• First customer in the healthcare sector secured; breakthrough deal with Karolinska University Hospital.

• Shift from unprofitable consulting to project, service, and product sales aimed at improved profitability.

• High project utilization and continued 5G rollout contributed to revenue growth.

Financial highlights

• Q3 2024 net sales: SEK 9.4m (Q3 2023: SEK 9.2m); nine months: SEK 34.5m (2023: SEK 35.2m).

• Q3 2024 EBITDA: SEK -1.2m (Q3 2023: SEK -0.3m); EBIT: SEK -1.2m (Q3 2023: SEK -0.3m).

• Net result Q3 2024: SEK -1.3m (Q3 2023: SEK -0.3m); EPS Q3 2024: SEK -0.02 (Q3 2023: SEK -0.01).

• Cash and cash equivalents at September 30: SEK 2.4m (2023: SEK 3.0m).

• Soliditet improved to 16.6% (Q3 2023: 11.7%).

Outlook and guidance

• Increased order intake and new customers in new industries expected to drive growth into 2024 and 2025.

• Focus remains on expanding sales, geographic reach, and product/service offerings for long-term national coverage.