SpectrumOne (SPEONE) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 were SEK 1.9 million, down from SEK 3.9 million in Q3 2023, mainly due to the transition of Qbim AB to a product company and the divestment of BizWell Sweden AB.

• EBITDA improved to SEK -1.8 million from SEK -2.2 million, while EBIT was SEK -8.5 million versus SEK -18.0 million year-over-year.

• The company is focusing on SaaS growth, with early positive results from pilot projects and new clients.

• Partnerships with TietoEvry and D&B are expected to drive future growth, with new contracts and product expansion underway.

Financial highlights

• Gross profit for Q3 was SEK 1.7 million, with a gross margin of 88.6%, up from 75.4% in Q3 2023.

• Net financial items for Q3 were SEK -1.8 million, and profit before tax was SEK -10.3 million, compared to SEK -18.8 million last year.

• Earnings per share before dilution for Q3 was SEK -0.02, compared to SEK -0.05 in Q3 2023.

• For the first nine months, net sales were SEK 9.6 million, gross profit SEK 7.8 million, and EBIT SEK -27.7 million.

• Net financial items for the nine months were SEK 101.4 million, with profit before tax at SEK 73.6 million, reflecting significant one-time gains.

Outlook and guidance

• Management remains committed to the growth strategy, focusing on SaaS and expanding key partnerships.

• New contracts and pilot projects are expected to positively impact Q4 2024.

• The company anticipates further commercial agreements and expansion in Norway and Sweden.