Greater Than (GREAT) Q1 2025 earnings summary

Executive summary

• Q1 2025 net sales dropped 88% year-over-year to SEK 1.3M, mainly due to a customer dispute and ongoing litigation, but management remains confident due to strong gross margins and growing demand for AI road safety solutions.

• Operating result was SEK -12.1M and EBIT SEK -16.1M, both significantly worse than Q1 2024, impacted by SEK 4.1M in litigation-related costs.

• The company is focused on replacing lost revenue through scaling with existing customers, new alliances, and licensing agreements.

Financial highlights

• Net sales: SEK 1,274K (Q1 2024: SEK 10,918K), total revenue SEK 3,501K (Q1 2024: SEK 12,723K).

• EBIT: SEK -16,140K (Q1 2024: SEK -757K), including SEK 4,100K in non-operational legal costs.

• Earnings per share: SEK -0.99 (Q1 2024: SEK -0.16), average shares 13,674,171.

• Cash and bank balances at period end: SEK 21,251K (Q1 2024: SEK 16,463K).

• Operating cash flow: SEK -13,923K (Q1 2024: SEK 248K).

Outlook and guidance

• 2025 outlook remains uncertain due to global economic turbulence and unresolved customer dispute, but management highlights strong gross margins (~90%), cost control, and positive momentum with new and existing customers.

• Growing demand for AI-driven road safety and sustainability solutions is expected to drive future growth.