LED iBond (LEDIBOND) Q2 2024 earnings summary

Executive summary

• Revenue increased to TDKK 1,963 in Q2 2024 from TDKK 488 in Q2 2023, and to TDKK 3,423 in H1 2024 from TDKK 1,363 in H1 2023, reflecting strong year-over-year growth.

• Net loss narrowed to TDKK -3,267 in Q2 2024 from TDKK -4,988 in Q2 2023, and to TDKK -7,199 in H1 2024 from TDKK -9,441 in H1 2023.

• EBITDA improved to TDKK -2,420 in Q2 2024 from TDKK -2,952 in Q2 2023, and to TDKK -4,880 in H1 2024 from TDKK -5,440 in H1 2023.

Financial highlights

• Gross profit turned positive in Q2 2024 at TDKK 60, compared to a loss of TDKK -367 in Q2 2023.

• Earnings per share (EPS) improved to -0.08 in Q2 2024 from -0.19 in Q2 2023; H1 EPS at -0.19 versus -0.37 year-over-year.

• Cash at period end was TDKK 583, down from TDKK 4,555 at the start of H1 2024.

• Total assets decreased to TDKK 27,884 at 30 June 2024 from TDKK 33,945 at 31 Dec 2023.

• Equity declined to TDKK 6,155 at 30 June 2024 from TDKK 13,361 at 31 Dec 2023.

Capital allocation and financing

• Raised TDKK 2,742 in additional capital during H1 2024.

• Convertible loan increased to TDKK 2,750 at 30 June 2024 from zero at year-end 2023.

• No capital increase in H1 2024; last capital increase was in 2023.