Skolon (SKOLON) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 reached 53.4 MSEK, up 31% year-over-year, with 100% organic growth.

• EBITDA for Q3 was 2.6 MSEK, operating income 1.5 MSEK, and EPS 0.05 SEK.

• Paying users grew 22.1% to 835,012, and ARPPU increased 19.7% to 165 SEK.

• Major new contracts signed in the UK, and a partnership with Canva was initiated post-period.

• ISO 27001 certification achieved, enabling integration with Sweden's national digital exam system.

Financial highlights

• Q3 net sales: 53.4 (40.8) MSEK, +31% year-over-year; 9M net sales: 117.0 (79.5) MSEK, +47.3%.

• Q3 EBITDA: 2.6 (1.3) MSEK; 9M EBITDA: -0.8 (-2.0) MSEK.

• Q3 operating income: 1.5 (0.5) MSEK; 9M operating income: -4.3 (-4.7) MSEK.

• Q3 EPS: 0.05 (0.01) SEK; 9M EPS: -0.15 (0.38) SEK.

• Q3 operating cash flow: 27.5 (18.8) MSEK; 9M: 22.2 (22.4) MSEK.

Outlook and guidance

• Expansion in the UK continues with a new local office in Southampton and onboarding of major new clients.

• Ongoing integration of global edtech partners, including Canva, to enhance platform value.

• Financial position supports further international growth initiatives.