Miris (MIR) Q4 2024 earnings summary

Executive summary

• Achieved 20% year-over-year revenue growth in Q4 2024, with full-year revenue up 14% to 17.6 MSEK.

• Net loss after tax improved by 54% for the year, totaling -6.3 MSEK compared to -13.7 MSEK in 2023.

• December saw a positive monthly result of nearly 0.9 MSEK, with two months of positive cash flow in the last four months.

• Company is progressing toward its profitability target for 2026.

Financial highlights

• Q4 2024 net sales: 5.0 MSEK (up from 4.2 MSEK in Q4 2023); full-year net sales: 17.6 MSEK (up from 15.5 MSEK in 2023).

• Q4 2024 net loss after tax: -0.48 MSEK (improved from -2.96 MSEK in Q4 2023); full-year net loss after tax: -6.3 MSEK (improved from -13.7 MSEK in 2023).

• Q4 2024 EPS: -0.003 SEK (vs. -0.155 SEK); full-year EPS: -0.066 SEK (vs. -0.719 SEK).

• Cash at year-end: 0.12 MSEK; net debt/equity ratio: 4.32%.

• Gross margin and operating margin improved, with Q4 operating margin at -5%, the best to date.

Outlook and guidance

• Profitability target for 2026 remains; 2024 order inquiries and sales trends support this ambition.

• Estimated 2025 sales based on order pipeline: 23–30 MSEK.

• Short-term liquidity needs to be stabilized; capital injection required to support growth until forecasted sales materialize.

• Ongoing discussions for financial solutions; TO3 warrants in September 2025 could add up to 9.5 MSEK.