PixelFox (PIXEL) Q3 2024 earnings summary

Executive summary

• Q3 2024 net sales reached 8.7 MSEK, down from 11.3 MSEK in Q3 2023, reflecting a focus on profitability and international expansion, especially in the U.S. market.

• EBITDA improved to 0.3 MSEK from -0.2 MSEK year-over-year, indicating operational progress and cost control.

• Strategic initiatives included establishing a U.S. subsidiary and pursuing acquisitions to strengthen the ecom-tech position.

• Continued development of proprietary SaaS solutions and partnerships to drive innovation and long-term value.

Financial highlights

• Group Q3 2024 net sales: 8.7 MSEK (Q3 2023: 11.3 MSEK); Q1–Q3 2024: 34.7 MSEK (Q1–Q3 2023: 37.2 MSEK).

• Q3 2024 EBITDA: 0.3 MSEK (Q3 2023: -0.2 MSEK); Q1–Q3 2024 EBITDA: 2.2 MSEK (Q1–Q3 2023: -1.4 MSEK).

• Profit after financial items for Q3 2024: -0.3 MSEK (Q3 2023: -6.5 MSEK); Q1–Q3 2024: 0.3 MSEK (Q1–Q3 2023: -10.4 MSEK).

• Earnings per share Q3 2024: -0.01 SEK (Q3 2023: -0.20 SEK); Q1–Q3 2024: 0.01 SEK (Q1–Q3 2023: -0.32 SEK).

• Cash and cash equivalents at period end: 345,507 SEK (Q3 2023: 1,360,272 SEK).

Outlook and guidance

• Management remains committed to international growth, especially in the U.S., and expects to leverage acquisitions and organic initiatives for future expansion.

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