Freemelt (FREEM) Q4 2024 earnings summary

Executive summary

• Achieved strategic advances in defense, energy, and medtech, with 28 paid development projects initiated in 2024, up from three in 2023.

• Secured key orders from global OEMs for orthopedic implants, UKAEA for fusion energy, and Saab Dynamics for defense applications.

• Strengthened financial position with two rights issues totaling SEK 156 million before costs, supporting commercialization and growth.

• Emphasized unique electron beam powder bed fusion technology and modular printers for productivity and cost efficiency.

• Order book at year-end reached SEK 12.4 million, a large increase year-over-year.

Financial highlights

• Q4 2024 net sales were SEK 8.2 million, with 66% from machine sales and growing project revenue.

• Full year net sales were SEK 20.0 million, down from SEK 22.3 million in 2023.

• Operating result for Q4 2024 was -SEK 22.6 million; full year operating result was -SEK 90.9 million.

• Cash flow for Q4 2024 was -SEK 9.3 million; cash at year-end was SEK 16.6 million.

• Equity ratio at year-end was 90%.

Outlook and guidance

• 2025 priorities include expanding the project portfolio, deepening customer collaborations, and advancing projects to proof-of-concept for large-scale production.

• Focus on scaling up for growth with a clear path toward profitability and improved cash flow.

• Rights issues and potential warrant exercises provide a strong financial foundation for accelerated commercialization.

• Anticipates continued strong demand in defense, energy, and medtech, driven by structural long-term trends.