Oneflow (ONEF) Q4 2024 earnings summary

Executive summary

• ARR reached SEK 166.8 million (MSEK 167), up 29% year-over-year, with 4,100 paying customers, a 21% increase, across 42 countries.

• Net sales for 2024 were SEK 136 million (MSEK 135.7), up 36% year-over-year; Q4 net sales reached SEK 37 million, up 29%.

• Net new ARR for 2024 was SEK 37.4 million, a 3% decline year-over-year, with Q4 net new ARR down 16% due to higher churn and slower expansion.

• Gross margin remained high at 92–93% in Q4, with 98% of revenue recurring.

• Losses narrowed as EBIT improved to SEK -83 million (MSEK -82.6), EBITDA to SEK -61 million (MSEK -45.5), and net loss to SEK -82.0 million, reflecting a stabilized cost base.

Financial highlights

• ARR per full-time employee rose 33% to SEK 882,000 (TSEK 882) in Q4 2024.

• EBIT and EBITDA margins improved significantly, with EBIT margin at -61% for 2024 and EBITDA margin at -34%.

• Basic and diluted EPS improved to SEK -3.09 from -3.80.

• Cash flow from operations improved to SEK -26.6 million, with Q4 operating cash flow positive at SEK 0.9 million.

• Cash and cash equivalents at year-end were SEK 105.3 million, supported by a SEK 90 million share issue.

Outlook and guidance

• Management targets annual ARR growth above 30% and aims for profitability with current funding.

• No significant headcount increases or list price changes planned for 2025; focus on cost control, renegotiating contracts, and add-on sales.

• Expects gross margin to remain around 92–93% in the coming year.

• Focus remains on operational efficiency, product innovation, and international expansion.