Grab2Go (GRB2G) H1 2024 earnings summary

Executive summary

• Grab2Go AS develops autonomous, unmanned, and robotic store technology for retailers, focusing on pharmacies, petrol stations, and convenience stores.

• Key activities in H1 2024 included expanding into the Canadian pharmacy market and launching a pilot convenience store with Selver in Ülemiste City.

• The company received a €10,000 grant and continued active sales efforts in all strategic sectors.

Financial highlights

• Revenue for H1 2024 was €1,162, up from €278 in H1 2023, mainly from device component sales.

• Net loss for H1 2024 was €97,561, a significant improvement from a €214,551 loss in H1 2023, due to lower operating and salary expenses.

• Cash flow for H1 2024 was -€76,331, compared to €107,370 in H1 2023; cash at period end was €12,888.

• Operating expenses and salary costs were significantly reduced, with no remuneration for board members in 2024.

• Balance sheet total as of 30.06.2024 was €752,311, with equity at €741,248 (98.5% of assets).

Outlook and guidance

• Plans for H2 2024 include further development of outdoor convenience store solutions, hardware improvements, and new features to enhance user experience and operational efficiency.

• Continued cooperation with state authorities and market participants in Estonia and abroad, especially in the pharmacy sector.