q beyond (QBY) Q2 2024 earnings summary

Executive summary

• EBITDA more than doubled year-over-year in Q2 2024, reaching €2.2 million, driven by efficiency gains and Strategy 2025 initiatives focused on profitability over growth.

• Revenue increased to €47.3 million in Q2 2024 from €46.4 million in Q2 2023, with free cash flow improving by €1.9 million to €0.8 million.

• Net result approached break-even, with a Q2 2024 loss of €0.8 million, a significant improvement from the prior year.

• 75% of Q2 revenue was recurring, and 72% came from focus sectors.

• Order intake in Q2 2024 was €54.2 million, significantly above the prior year's €39.8 million.

Financial highlights

• EBITDA margin rose to 5% in Q2 2024, up from 2% in Q2 2023.

• Free cash flow turned positive at €0.8 million in Q2 2024, compared to -€1.1 million in Q2 2023.

• Net liquidity increased to €39.0 million as of June 30, 2024, up from €37.6 million at year-end 2023; no bank debt.

• Equity ratio rose to 66% as of June 30, 2024.

• Q2 2024 EPS: -€0.01 (Q2 2023: -€0.03); market capitalization at June 30, 2024: €100.9 million.

Outlook and guidance

• 2024 EBITDA forecast confirmed at €8–10 million, with revenue guidance of €192–198 million and at least 40% EBITDA growth.

• Management anticipates sustainably positive free cash flow and further margin improvement in 2025.

• Additional €4 million cash inflow expected in H2 2024 from tax treatment of the 2019 Plusnet sale.