SolidX (SOLIDX) Q3 24/25 earnings summary

Executive summary

• Net sales for Q3 increased by 12% year-over-year to 38.3 MSEK, driven by acquisitions and growth in the medical consulting segment.

• Nine-month net sales rose 36% to 110.3 MSEK compared to 81.0 MSEK last year.

• EBITDA for Q3 was -2.4 MSEK, down from 1.0 MSEK in the prior year, mainly due to write-downs and increased competition.

• Cost-saving measures freed over 1 MSEK per quarter, with full effect from February.

• A major IT consulting framework agreement with CSN worth 300 MSEK over four years started January 2025.

Financial highlights

• Q3 net sales: 38,337 KSEK (up 12% YoY); nine-month net sales: 110,271 KSEK (up 36% YoY).

• Q3 EBITDA: -2,417 KSEK (vs. 1,011 KSEK YoY); nine-month EBITDA: -174 KSEK (vs. 2,559 KSEK YoY).

• Q3 net result: -4,971 KSEK (vs. -209 KSEK YoY); nine-month net result: -6,228 KSEK (vs. 765 KSEK YoY).

• Cash flow from operations Q3: 1,144 KSEK (vs. 5,901 KSEK YoY); cash at period end: 5,120 KSEK (down 49% YoY).

• No new investments in Q3; prior year included 10.2 MSEK in acquisitions.

Outlook and guidance

• Management expects improved margins as cost savings take full effect from February.

• Increased customer demand and reduced bench time for consultants observed since year-end.

• Long-term goal to surpass 1 billion SEK in net sales through organic growth and acquisitions.