Nexcom (NEXCOM) Q4 2024 earnings summary

Executive summary

• Expanded business through new customer signings and extended agreements, leveraging technology acquired in 2023 to enter scalable distribution networks and new markets.

• Entered a distribution agreement for the VIBE voice solution across Northern Europe and launched a new integrable AI assistant.

• Experienced a major project deployment delay in Q4, impacting 2024 revenue and resulting in missed guidance.

• CEO and CFO increased their shareholding; new chairman elected.

Financial highlights

• Revenue for 2024 was DKK 9.9 million, down from DKK 11.5 million in 2023, which included a DKK 3.6 million one-off license fee.

• EBITDA for 2024 was DKK -5.6 million, compared to DKK -3.9 million in 2023.

• Net loss for 2024 was DKK -16.6 million, compared to DKK -9.3 million in 2023.

• Loans of DKK 15.5 million were obtained to support operations, later converted to shares, increasing share count from 18.8 million to 22.6 million.

Outlook and guidance

• Revenue for 2025 is expected in the range of DKK 17–20 million, with EBITDA projected between DKK 1–4 million.

• Plans to further reduce debt through a capital raise in H2 2025 and target positive cash flow by year-end 2025.

• DKK 8.8 million of 2025 revenue already secured; recurring 3-year license streams expected to accelerate revenue and EBITDA.