Nexar Group (NXAR) Q3 2024 earnings summary

Executive summary

• Revenue for January–September 2024 was 124 KSEK, up from 103 KSEK year-over-year.

• Net result for the period was -2,379 KSEK, a deterioration of 629 KSEK compared to the same period in 2023.

• Negative result mainly due to absence of 2023's one-time income from reversal of previous provisions (365 KSEK).

• Equity per share decreased to -0.03 SEK from 0.09 SEK year-over-year.

Financial highlights

• Q3 2024 revenue was 51 KSEK (0 KSEK in Q3 2023); net result -776 KSEK (-716 KSEK in Q3 2023).

• Net result per share for January–September was -0.07 SEK (unchanged year-over-year).

• Group equity at September 30, 2024, was -1,020 KSEK; parent company equity was 6,821 KSEK.

• Cash flow from operations for January–September was -1,173 KSEK; cash at period end was 5 KSEK.

• Group solvency ratio at September 30, 2024, was -4% (9% in 2023).

Outlook and guidance

• Management sees significant revenue potential from the African Legends platform, with Nexar entitled to 25% of collectible card sales and other digital products.

• Expansion is supported by new financing and strategic partnerships in new markets.