Revenio Group (REG1V) Q3 2024 earnings summary

Executive summary

• Net sales reached EUR 23.9 million in Q3 2024, up 8.9% year-over-year, with currency-adjusted growth at 15.1%.

• Operating profit declined 8.5% to EUR 5.5 million, mainly due to FX headwinds and increased marketing spend for new product launches.

• Year-to-date (Jan–Sep) net sales rose 8.2% to EUR 73.0 million, while operating profit fell 5.6% to EUR 15.9 million.

• Strong product launches included the ST500 and TONOVET Pro tonometers, and regulatory approvals in China for EIDON and IC200 Quick Measure.

• Acquisition of Thirona Retina B.V. strengthens AI-based eye diagnostics capabilities and supports future device development.

Financial highlights

• Q3 EBITDA was EUR 6.7 million (27.9% of net sales), down 5.4% year-over-year; EPS was EUR 0.157.

• Gross margin for Q3 was 69.1%, down from 70.8% a year ago.

• Net cash flow from operations in Q3 was EUR 2.9 million, down from EUR 5.6 million, but nine-month cash flow reached EUR 14.1 million, up from EUR 5.6 million.

• Equity ratio improved to 76.3% and net gearing was 0.6% at quarter-end.

• Dividend of EUR 0.38 per share was distributed in April 2024.

Outlook and guidance

• Exchange rate-adjusted net sales for 2024 are expected to grow 5–10% from the previous year.

• Profitability, excluding non-recurring items, is expected to remain at a good level.

• Q4 is anticipated to be more challenging, with most annual growth coming from Q2 and Q3.

• First EUR 100 million sales year expected to be achieved in Q4.

• Geopolitical risks and the US election create uncertainty; market visibility remains limited.