SHT Smart High-Tech (SHT) Q2 2024 earnings summary

Executive summary

• Revenue for Q2 2024 increased 466% year-over-year to 2,206 TSEK, driven by higher deliveries to Thermal Grizzly and initial shipments to AMD.

• Net loss after tax for Q2 was -11,609 TSEK, slightly higher than -10,114 TSEK last year.

• Cash flow from operations improved to -6,055 TSEK in Q2 from -8,812 TSEK a year ago.

• Major capital injection from a directed share issue and exercised options, with 85 MSEK received in July, strengthening liquidity.

• Company is transitioning from a research-driven to a commercial tech company, with strong order inflow from global tech leaders.

Financial highlights

• H1 2024 revenue rose 216% year-over-year to 3,112 TSEK, surpassing full-year 2023 revenue.

• Operating loss for H1 2024 was -21,345 TSEK, compared to -18,686 TSEK last year.

• Cash and equivalents at period end were 13,085 TSEK, with an additional 85,000 TSEK received post-period.

• Equity increased to 101,863 TSEK as of June 30, 2024, up from 24,462 TSEK a year earlier.

• Earnings per share for H1 2024 was -1.18 SEK, compared to -1.16 SEK last year.

Outlook and guidance

• Strong financial position after capital raise; company expects significant growth as several major tech companies are evaluating products.

• Industrial integration in China to be enhanced after full acquisition of Shanghai Ruixi New Material Technology Ltd.

• No formal financial forecasts provided.