LED iBond (LEDIBOND) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 increased to TDKK 1,626 from TDKK 353 in Q3 2023; nine-month revenue rose to TDKK 5,049 from TDKK 1,716 year-over-year.

• Net loss for Q3 2024 widened to TDKK -5,168 from TDKK -3,497 in Q3 2023; nine-month net loss was TDKK -12,366 versus TDKK -12,939 year-over-year.

• Gross profit turned negative at TDKK -84 in Q3 2024, down from TDKK 428 in Q3 2023; nine-month gross profit was TDKK -223 compared to TDKK 11 last year.

Financial highlights

• EBITDA for Q3 2024 was TDKK -3,675, down from TDKK -1,697 in Q3 2023; nine-month EBITDA was TDKK -8,556 versus TDKK -7,136 year-over-year.

• Earnings per share (EPS) for Q3 2024 was DKK -0.13, unchanged from Q3 2023; nine-month EPS improved to DKK -0.32 from DKK -0.50 year-over-year.

• Cash at period end was TDKK 543, down from TDKK 4,555 at 31 Dec 2023.

• Total assets decreased to TDKK 26,920 at 30 Sep 2024 from TDKK 33,945 at 31 Dec 2023.

• Equity fell to TDKK 987 at 30 Sep 2024 from TDKK 13,361 at 31 Dec 2023.

Capital allocation and financing

• Raised TDKK 2,900 in additional capital in Q3 2024 and TDKK 5,643 in the first nine months of 2024.

• Long-term payables increased to TDKK 14,170 at 30 Sep 2024 from TDKK 8,397 at 31 Dec 2023.

• Deferred income decreased to TDKK 8,184 from TDKK 9,629 at year-end.