Serviceware (SJJ) Q2 2024 earnings summary

Executive summary

• Achieved record sales revenue of €25.4M in Q2, with H1 2023/24 revenue up 10.2% year-over-year to €50.3M.

• SaaS/Service revenue grew 22.2% to €32.8M, now 65.1% of total sales, reflecting ongoing business model transformation.

• EBITDA improved from €-1.2M to €1.6M; operating cash flow reached €9.3M, up from €-2.3M year-over-year.

• Expanded internationally, securing first major Asian customer and strengthening North American presence via partnership.

• Integrated AI further into ESM platform, launching the "AI Process Engine" post-period to drive automation.

Financial highlights

• H1 sales revenue: €50.3M (+10.2% year-over-year); SaaS/Service: €32.8M (+22.2%).

• EBITDA: €1.6M (prior year: €-1.2M); EBIT: €-0.1M (prior year: €-3.0M).

• Earnings after taxes: €-0.8M (prior year: €-2.8M); EPS: €-0.07 (prior year: €-0.27).

• Cash and cash equivalents: €35.3M (+24.9% vs. 30 Nov 2023); order backlog: €75.0M (+35.3%).

• Operating cash flow: €9.3M inflow (prior year: €-2.3M outflow).

Outlook and guidance

• Forecasts FY 2024 sales growth of 5–15% and significant improvement in EBIT and EBITDA.

• Expects continued SaaS revenue shift, improved predictability, and high growth potential.

• Anticipates further acceleration in sales and earnings growth in coming years, barring major exogenous shocks.