Intellego Technologies (INT) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue reached SEK 74.4 million, up 71% year-over-year; EBIT at SEK 21.6 million, impacted by higher external costs and a SEK 2.2 million Nasdaq fine.

• Cash flow from operations was negative in Q3 due to late customer payments, but liquidity improved post-quarter to SEK 50 million.

• Major projects launched in Q3 are expected to drive significant revenue growth in 2025 and beyond.

• Updated long-term targets: SEK 2 billion revenue and SEK 600 million EBIT within 3–5 years.

Financial highlights

• Net sales for Q3 2024: SEK 74.4 million (Q3 2023: SEK 43.4 million); nine months YTD: SEK 206.9 million (2023: SEK 131.1 million).

• EBIT for Q3 2024: SEK 21.6 million (Q3 2023: SEK 15.6 million); YTD: SEK 84.6 million (2023: SEK 54.4 million).

• Profit after tax for Q3 2024: SEK 12.3 million; YTD: SEK 61.2 million.

• Cash and cash equivalents at Q3-end: SEK 4.7 million, but post-period liquidity reached SEK 50 million.

• Equity ratio improved to 66% (Q3 2023: 56%).

Outlook and guidance

• On track to achieve 2024 targets: over SEK 300 million in revenue and over SEK 110 million EBIT.

• Several large-scale projects and collaborations expected to boost revenue from 2025, including expanded partnerships in Asia and the US.

• Gross margin and EBIT expected to improve as dosimeter sales follow equipment sales.

• Long-term financial goals raised to SEK 2 billion revenue and SEK 600 million EBIT in 3–5 years.