GomSpace Group (GOMX) Q3 2024 TU earnings summary

Communication and reporting approach

• Quarterly reports are issued, with Q1 and Q3 as trading statements for faster updates and order backlog disclosure for transparency.

• Immediate press releases are issued for major changes impacting share price, with other updates shared for general investor interest.

• Social media channels are used for additional updates on products, events, and partnerships.

Business strategy and operational focus

• Clear separation of product, program, and North America business units, each with tailored strategies and focus on profitability.

• Transitioned from uncertainty in 2023 to clarity and stability in 2024, emphasizing patience, targeted sales, and structured resource allocation.

• Organic growth in North America, with expansion focused on market presence and partnerships.

• Recruitment is aligned with current demand, not speculative future growth.

Financial performance and guidance

• Achieved positive free cash flow of 12 MSEK in Q3 2024, improving cash position to 62 MSEK.

• EBIT improved year-on-year, with YTD EBIT at -44 MSEK, a 23 MSEK improvement over the previous year.

• Order backlog increased to 310 MSEK, with Q3 order intake at 68.7 MSEK and revenue at 57.7 MSEK.

• Guidance maintained for positive free cash flow in H2 and full year, with revenue and EBIT expected to surpass 2023.