Greater Than (GREAT) Q4 2024 earnings summary

Executive summary

• Net sales for 2024 increased by 44% year-over-year to SEK 40.6M, with a 10% reduction in costs, despite a 15% drop in Q4 sales compared to Q4 2023.

• EBIT improved significantly to SEK -1.3M for 2024 from SEK -32.2M in 2023, aided by a one-off income of SEK 7M and litigation costs of SEK 4M.

• The company celebrated 20 years of its AI technology, with strong market momentum and new partnerships, notably with Waylens and Smart Eye.

• No dividend is proposed for 2024.

Financial highlights

• Q4 2024 net sales were SEK 8.2M, including a SEK 6.8M provision release; EBIT for Q4 was SEK -6.4M, impacted by SEK 2.2M in litigation costs.

• Full-year 2024 EBIT was SEK -1.3M, including SEK 4M litigation costs and SEK 7M one-off income; net sales would have been SEK 15M higher without the ABAX dispute.

• Earnings per share improved to SEK -0.23 for 2024 from SEK -2.50 in 2023.

• Total assets increased to SEK 93.8M at year-end 2024 from SEK 51.2M in 2023.

• Cash and bank balances rose to SEK 36.6M at year-end 2024 from SEK 18.2M in 2023.

Outlook and guidance

• Anticipates continued strong demand for AI-driven risk intelligence, especially as regulatory and ESG requirements increase.

• Strategic alliances are being evaluated to accelerate technology value and market reach.

• Ongoing legal proceedings with ABAX are expected to take time, but focus remains on growth with current and new customers.