Robus Group (ROBUS) H1 2024 earnings summary

Executive summary

• Robus Group AS focused on developing the GymBars PRO smart training equipment and validating its international sales potential in H1 2024, with 90% of sales within the EU and 10% outside.

• Pre-sale campaigns, especially on Kickstarter, indicated strong market interest, with 95,000 USD in pre-orders, mainly from the US.

• The company is transitioning into a technology-focused business, emphasizing innovation and product differentiation.

Financial highlights

• Consolidated revenue for H1 2024 was €25.9k, down from €108.0k in H1 2023.

• Pre-orders for GymBars PRO totaled €117.4k but are not included in reported revenue.

• Net loss for H1 2024 was €44.7k, a significant improvement from a €174.2k loss in H1 2023.

• Cash at period end was €13.9k, compared to €38.5k a year earlier.

Outlook and guidance

• Plans for H2 2024 include fulfilling pre-sale orders and launching GymBars PRO for regular sales.

• Development of an AI-based personal trainer component for the GymBars PRO app is scheduled.

• Targeting mid-Q4 2024 for the market launch of GymBars PRO.