Greater Than (GREAT) Q4 2021 earnings summary

Executive summary

• 2021 revenue increased to SEK 16.7m from SEK 11.6m, while the operating loss widened to SEK 29.0m as the organization scaled for commercial expansion.

• Strategic focus shifted toward faster commercial rollout, broader international sales and recurring revenue growth through deeper penetration of existing customers.

Financial highlights

• Revenue was SEK 16.698m vs SEK 11.615m in 2020; growth was primarily driven by other development revenue, including Enerfy Global.

• Operating loss was SEK 28.973m vs SEK 23.772m; net loss was SEK 29.660m vs SEK 24.465m.

• Cash and cash equivalents reached SEK 114.7m at year-end vs SEK 17.6m, following a SEK 136m directed share issue.

Outlook and guidance

• Management targeted global organic expansion, accelerated revenue generation and more recurring revenue, especially through increased penetration of existing customers.

• Funding for at least the next 12 months was assessed as secured based on cash, the business plan and the projected development plan.

• Post-year-end, ABAX partnership plans to connect 200,000 vehicles to Enerfy; the partnership was expected to affect revenue during 2022.