Smartbroker (SB1) H2 2024 earnings summary

Executive summary

• Achieved 12.8% revenue growth to €52.5m in 2024, driven by Smartbroker+ and Media segment expansion.

• Net loss reduced to €-1.4m from €-5.9m year-over-year, reflecting improved operational performance.

• Completed major product development for Smartbroker+, stabilized operations, and resumed customer acquisition.

• Media segment saw 18% reach growth, though profitability declined due to market conditions.

• Board and management changes implemented to support strategic realignment.

Financial highlights

• Revenue: €52.5m (+12.8% year-over-year); EBITDA: €9.0m (vs. €1.3m prior year).

• Net loss: €-1.4m (improved from €-5.9m year-over-year).

• Cash flow from operations: €10.0m (vs. €0.2m prior year); cash at year-end: €22.0m.

• Equity ratio increased to 78% (from 67%); total assets stable at €63.4m.

• Capital increase of €7.6m completed in May 2024.

Outlook and guidance

• 2025 revenue guidance: €55–61m; EBITDA expected between €-3m and €0m due to higher customer acquisition costs.

• Targeting 70,000 new customers for Smartbroker+ in 2025.

• Media segment expected to remain stable and deliver positive EBITDA margin.

• Ongoing investment in product development and marketing to drive growth.