Revenio Group (REG1V) Q4 2024 earnings summary

Executive summary

• Net sales for 2024 reached EUR 103.5 million, up 7.2% year-over-year, with Q4 sales at a record EUR 30.5 million, up 4.8% from Q4 2023.

• Operating profit margin for Q4 was 29.9%, with full-year EBIT at EUR 25.0 million (24.2% margin), and adjusted EBIT margin just over 25%.

• Recurring revenue from probes, software licenses, and service contracts accounted for nearly one-third of total net sales.

• Strong operating cash flow for 2024 at EUR 23.9 million, up 120% year-over-year, supported by efficient working capital management.

• Several new product launches in 2024, including iCare ST500, TonoVet Pro, TonoVet Pet, and iCare MAIA, and the acquisition of Thirona Retina to strengthen AI capabilities.

Financial highlights

• Q4 net sales: EUR 30.5 million (+4.8% year-over-year); full-year net sales: EUR 103.5 million (+7.2% year-over-year).

• Q4 operating profit: EUR 9.1 million (29.9% margin); full-year EBIT: EUR 25.0 million (24.2% margin).

• Q4 EPS: EUR 0.247; full-year EPS: EUR 0.695.

• Operating cash flow for 2024: EUR 23.9 million, more than doubling year-over-year.

• Board proposes EUR 0.40 per share dividend for 2024.

Outlook and guidance

• Exchange rate-adjusted net sales for 2025 expected to grow 6–15% from 2024.

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

• Guidance range widened due to geopolitical and economic uncertainties, including potential tariffs on U.S. sales.

• Targeting revenue growth three times faster than the ophthalmic diagnostic device market.