SHT Smart High-Tech (SHT) Q4 2024 earnings summary

Executive summary

• Revenue increased 133% year-over-year to 6,764 TSEK for 2024, driven by higher deliveries, notably to Thermal Grizzly.

• Operating loss widened to -44,686 TSEK from -38,227 TSEK year-over-year, reflecting higher costs from scaling production.

• Cash position strengthened to 104,143 TSEK at year-end, supported by new share issues and option exercises.

• Strategic partnership MoU signed with Henkel for GT-TIM® technology; 100% ownership of Shanghai Ruixi New Materials secured.

• New CEO Mats Bergh appointed in February 2025, with a focus on scaling and commercializing operations.

Financial highlights

• Q4 2024 revenue rose 137% year-over-year to 1,711 TSEK; full-year revenue up 133% to 6,764 TSEK.

• Q4 operating loss at -13,651 TSEK; full-year operating loss at -44,686 TSEK.

• Net loss for 2024 was -44,290 TSEK, compared to -37,645 TSEK in 2023.

• Cash flow from operations improved to -34,333 TSEK from -44,873 TSEK year-over-year.

• Earnings per share improved to -1.67 SEK from -2.09 SEK year-over-year.

Outlook and guidance

• Ongoing negotiations for a partnership agreement to enhance credibility and production quality.

• Market interest is increasing, with global companies testing products for volume applications.

• Production capacity expansion underway in Sweden and China, targeting 100,000 units/month by Q2 2025.

• No formal financial forecasts provided.