Kontigo Care (KONT) Q4 2024 earnings summary

Executive summary

• Achieved highest annual revenue to date at 30.2 MSEK, up 4.5% year-over-year, despite challenging macroeconomic conditions and a conservative home market.

• Maintained market-leading position in Sweden, with contracts covering about 60% of municipalities and a slight increase in total licenses to 880.

• MDR and ISO 13485 certifications obtained for Previct® Alcohol, confirming compliance with the highest EU standards for medical devices.

• Initiated new partnerships, including a pilot with TBS Nederland and collaboration with IBK Storvreta, expanding into justice and sports segments.

• Strengthened cash position through two directed share issues totaling over 20 MSEK to support business development and market expansion.

Financial highlights

• Q4 net sales reached 7.6 MSEK, up 1.7% year-over-year; full-year net sales were 30.2 MSEK, up 4.5%.

• Q4 EBIT was -0.6 MSEK (margin -7.5%), compared to -0.3 MSEK last year; full-year EBIT was 0.9 MSEK (margin 2.9%), up from 0.5 MSEK.

• Q4 net income was -0.6 MSEK (-0.02 SEK/share); full-year net income was 0.8 MSEK (0.03 SEK/share).

• Q4 free cash flow was -1.1 MSEK; full-year free cash flow improved to -6.1 MSEK from -10.8 MSEK.

• Cash at year-end was 21.9 MSEK, with a negative net debt of -18.2 MSEK.

Outlook and guidance

• Focus on defending Swedish market share while accelerating expansion into new markets and segments.

• Proceeds from share issues to be used for product development and international business development.

• No formal financial forecasts provided.