Greater Than (GREAT) Q4 2023 earnings summary

Executive summary

• Ninth consecutive quarter of growth; Q4 net sales rose 112% YoY, users increased 102%, and gross margin reached 82%.

• Growth reflected expanding customer deployments and ESG demand, while strategic cost reductions narrowed operating losses.

Financial highlights

• Q4 2023 net sales were KSEK 9,590 vs KSEK 4,534 YoY; total revenue was KSEK 11,095 vs KSEK 5,412.

• Q4 operating loss improved to KSEK 4,169 from KSEK 15,606; loss before tax was KSEK 5,624 vs KSEK 14,990, and EPS was SEK -0.34 vs SEK -1.22.

• FY 2023 net sales were KSEK 28,270 vs KSEK 13,260; total revenue was KSEK 33,309 vs KSEK 23,661.

• FY operating loss narrowed to KSEK 31,471 from KSEK 57,706; loss before tax was KSEK 32,224 vs KSEK 55,942, and EPS was SEK -2.50 vs SEK -4.56.

• Q4 revenue included KSEK 2,100 of additional customer service fees; Q4 operating result improved ~KSEK 11,000 YoY and ~KSEK 500 QoQ.

Outlook and guidance

• Cash runway outlook remained at least through end-2024; the board reviews forecast cash flows and considers additional financing if needed.

• 2024 priorities include supporting global customers as they adopt AI for efficiency, ESG management and reporting, customer experience, and real-time analytics.