Shape Robotics (SHAPE) Q4 2024 earnings summary

Executive summary

• Achieved ambitious 2024 targets: DKK 300 million revenue and DKK 25 million adjusted EBITDA.

• Q4 2024 was the strongest quarter, with DKK 125 million revenue, up 44% year-over-year.

• Service revenue, introduced in Q3, made up 30% of Q4 revenue, boosting contribution margin to 38%.

• Strong momentum supported by new distribution partnerships and growing demand in key markets.

Financial highlights

• Q4 revenue: DKK 125 million, up from DKK 86 million in Q4 2023.

• Full-year adjusted EBITDA target met, with Q4 adjusted EBITDA at DKK 26 million, a 56% year-over-year increase.

• Contribution margin reached a record 38% in Q4, up from 28% in Q4 2023.

• Service revenue under TechUcata reached DKK 22.6 million in 2024, 7% of total revenue.

Outlook and guidance

• 2025 revenue expected to grow 20–35%, reaching DKK 360–410 million.

• Adjusted EBITDA margin expected at least 10% of revenue; EBITDA margin at least 8% before certain adjustments.

• Cost base to be reduced by DKK 12–15 million in 2025, with full impact by end of June.

• Service revenue and operational efficiency to drive margin improvements.