Nanologica (NICA) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 increased to SEK 611 thousand from SEK 342 thousand year-over-year; nine-month sales rose to SEK 7,822 thousand from SEK 1,368 thousand.

• Operating loss widened to SEK -22,203 thousand in Q3 (from SEK -10,292 thousand) and SEK -47,365 thousand for the nine months (from SEK -34,324 thousand).

• Received a SEK 3.7 million order for NLAB SagaⓇ from a recurring Chinese customer, with a supplementary SEK 1.9 million order in October.

• Completed a fully underwritten rights issue, raising SEK 76.5 million in cash after costs and loan set-offs, and repaid a SEK 15 million bridge loan.

• Focus remains on commercializing NLAB SagaⓇ, expanding product portfolio, and achieving positive operating cash flow and profitability.

Financial highlights

• Net sales for Q3 2024: SEK 611 thousand (Q3 2023: SEK 342 thousand); nine months: SEK 7,822 thousand (2023: SEK 1,368 thousand).

• Operating loss for Q3: SEK -22,203 thousand (Q3 2023: SEK -10,292 thousand); nine months: SEK -47,365 thousand (2023: SEK -34,324 thousand).

• Loss before tax for Q3: SEK -23,701 thousand (Q3 2023: SEK -11,554 thousand); nine months: SEK -51,561 thousand (2023: SEK -38,318 thousand).

• Earnings per share (basic/diluted) for Q3: SEK -0.54 (Q3 2023: SEK -0.32); nine months: SEK -1.31 (2023: SEK -1.06).

• Cash and cash equivalents at September 30, 2024: SEK 4,087 thousand (2023: SEK 22,585 thousand).

Outlook and guidance

• Large-scale silica production has enabled inventory build-up and faster deliveries, supporting commercialization of NLAB SagaⓇ.

• Management expects continued sales growth and improved cash flow in coming years, with a focus on achieving profitability.

• Rights issue strengthens financial position and working capital for production and sales expansion.