PixelFox (PIXEL) Q2 2024 earnings summary

Executive summary

• Q2 2024 net sales reached 10.7 MSEK, up 11.5% year-over-year, reflecting stable growth and alignment with strategic goals.

• EBITDA for Q2 was 0.6 MSEK, a turnaround from -0.6 MSEK in Q2 2023, indicating improved profitability.

• Strategic focus on developing proprietary SaaS services and exploring acquisitions to drive future expansion.

• Initiated establishment of a strategic subsidiary in the USA post-period, supporting international growth ambitions.

Financial highlights

• Net sales for H1 2024 totaled 26.1 MSEK, slightly above H1 2023 (25.9 MSEK).

• H1 2024 EBITDA was 1.8 MSEK, up from -1.2 MSEK in H1 2023.

• Result after financial items for Q2 2024 was -0.1 MSEK, a significant improvement from -1.9 MSEK in Q2 2023.

• Earnings per share for Q2 2024 was 0.00 SEK, compared to -0.17 SEK in Q2 2023.

• Cash and cash equivalents at period end were 582 KSEK, down from 853 KSEK at the start of the period.

Outlook and guidance

• Focus remains on strengthening the product portfolio and preparing for future growth, especially through SaaS initiatives.

• Ongoing market search for new platforms and services to complement and expand the current offering.

• Financial targets for 2024: revenue of 39 MSEK and EBITDA of 3–5 MSEK.