OurLiving (OURLIV) Q2 2024 earnings summary

Executive summary

• Q2 2024 marked by Solarfuture's bankruptcy, parent company reconstruction, and cost-saving measures.

• Boappa's transformation to a premium SaaS product drove a significant increase in revenue.

• Focus shifted to core SaaS business, aiming for profitability and positive cash flow by Q4 2024.

• New CEO Stina Åkesson appointed in May 2024.

Financial highlights

• Net sales for Q2 2024 were 1,817 TSEK, down from 7,023 TSEK in Q2 2023, mainly due to Solarfuture's exit.

• EBITDA for Q2 2024 was -2,430 TSEK, similar to -2,216 TSEK in Q2 2023.

• Net result per share before dilution was -0.171 SEK (Q2 2023: -0.074 SEK).

• Cash flow for Q2 2024 improved to 2,862 TSEK from -1,517 TSEK in Q2 2023, driven by Boappa's growth.

• Cash position at period end was 2,959 TSEK (Q2 2023: 134 TSEK).

Outlook and guidance

• Targeting positive cash flow and profitability in Q4 2024.

• Continued focus on SaaS and digital platforms for housing associations.

• Bostadsutvecklarsegmentet expected to ramp up in 2025.