Sociallite US (SOCIAL) Q2 2024 earnings summary

Executive summary

• Achieved a 1.7 MSEK improvement in results for H1 2024 compared to H1 2023, driven by organizational development and realized synergies from two acquisitions in Q1 2024.

• Focused on strengthening sales structure, optimizing administration, and technical platforms, positioning for growth in digital marketing services.

• Signed new contracts with an ARR of 365 TSEK in Q2, totaling 781 TSEK for H1 2024.

Financial highlights

• Q2 2024 net revenue was 4.0 MSEK, up from 3.9 MSEK in Q2 2023; H1 2024 net revenue was 8.1 MSEK, slightly down from 8.4 MSEK in H1 2023.

• Q2 2024 EBITDA improved to -612 TSEK from -1,291 TSEK in Q2 2023; H1 2024 EBITDA was -465 TSEK, up from -2,231 TSEK in H1 2023.

• Q2 2024 net loss after financial items was -4,691 TSEK, an improvement from -6,884 TSEK in Q2 2023.

• Earnings per share for Q2 2024 was -1.19 SEK, compared to -0.03 SEK in Q2 2023.

• Cash flow from operations for H1 2024 was -3,096 TSEK; period-end cash was 638 TSEK.

Outlook and guidance

• Positioned for growth and profitability in core digital marketing services, with expansion opportunities through organic growth and acquisitions.

• Continued focus on customer experience and leveraging referrals for new business.