Monsenso (MONSO) H2 2024 earnings summary

Executive summary

• Achieved DKK 11.2m in revenue for 2024, a 16% increase year-over-year, driven by strong subscription growth and commercial project execution.

• Advanced three major innovation projects: PhaseV (decentralized trials), PERSONAE (AI-powered depression care), and MentBest (personalized self-help for mental health).

• Expanded recurring revenue streams, notably through a long-term agreement with a major European capital's youth psychiatry and addiction services.

• Enhanced digital health platform with new features, integrations, and user engagement tools, supporting scalability and customer retention.

• Positioned for continued growth in digital health, targeting both public and private sectors across Europe, especially Denmark and the UK.

Financial highlights

• Revenue rose to DKK 11.2m in 2024 from DKK 9.6m in 2023, mainly due to a 66% increase in subscription revenue.

• Gross margin declined to 45% from 47% year-over-year, reflecting higher project activity.

• Net loss widened to DKK (6.0m) from DKK (5.4m) in 2023; EBITDA was DKK (2.1m), within guidance.

• Operating expenses increased to DKK 13.4m, up from DKK 11.0m, primarily due to higher employee costs.

• Cash flow from operations was DKK (7.0m), down from DKK 2.6m, mainly due to lower prepayments.

Outlook and guidance

• 2025 revenue expected at DKK 12–13m, representing 8–16% growth; EBIT guidance is DKK (7m) to DKK (6m).

• Revenue outlook depends on successful progress with several large projects.