Monsenso (MONSO) H1 2024 earnings summary

Executive summary

• Total revenue grew 25% year-over-year to DKK 5,527k in H1 2024, with subscription revenue up 33% and significant progress in innovation projects.

• Major commercial milestones include platform implementation in a European capital's youth psychiatry and a successful national headache project with a leading pharmaceutical.

• Cash position improved to DKK 5,971k at period end, supported by a DKK 9.3m capital raise.

Financial highlights

• EBITDA was DKK -1,270k, down from DKK -1,142k in H1 2023; operating profit (EBIT) was DKK -3,484k.

• Gross margin increased to 42% from 38% year-over-year.

• Net loss for the period was DKK -3,231k, an improvement from DKK -3,170k in H1 2023.

• Cash flow from operating activities was DKK -3,826k; net cash flow was DKK 4,159k due to capital raise.

• Equity rose to DKK 16,913k from DKK 10,873k at year-end 2023.

Outlook and guidance

• 2024 revenue expected at DKK 11-13m, up 15-35% year-over-year, with EBITDA guidance of DKK -3m to -1.5m.

• Management expects sufficient cash to support operations for the coming period.