Solution International Nordics (SIN) Q3 2024 earnings summary

Executive summary

• Strategic divestment of MyFirstApp Group S AB and Oy 10Monkeys Ltd completed to sharpen focus on AI-driven educational solutions and ed-gaming for children aged 6–12.

• Ongoing development of the Evolear platform and expansion through partnerships and new product launches like MineMatch and TalesTime.

• Actively evaluating new acquisitions to strengthen market position in the fast-growing edtech segment.

Financial highlights

• Q3 2024 net revenue increased to SEK 1.15 million from SEK 0.56 million in Q3 2023, reflecting strong year-over-year growth.

• EBITDA improved to SEK 0.55 million in Q3 2024 from SEK -0.18 million in Q3 2023, indicating enhanced operational efficiency.

• Net loss after financial items was SEK -0.82 million in Q3 2024, a slight improvement from SEK -0.91 million in Q3 2023.

• Earnings per share for Q3 2024 was SEK -0.19, compared to SEK -0.27 in Q3 2023.

• Group equity as of September 30, 2024, stood at SEK 1.83 million, down from SEK 4.38 million a year earlier.

Outlook and guidance

• Focus remains on further developing the Evolear platform and launching new AI-driven educational products for children.

• Continued pursuit of strategic partnerships and potential acquisitions to support long-term growth.

• Previous financial targets have been withdrawn following the divestment of subsidiaries.