SpectrumOne (SPEONE) Q4 2024 earnings summary

Executive summary

• Net sales for Q4 2024 were SEK 2.5 million, down from SEK 3.7 million year-over-year, reflecting a shift from consultancy to SaaS revenues.

• Full-year net sales reached SEK 12.1 million, a significant decrease from SEK 23.3 million in 2023.

• EBITDA for Q4 was SEK -3.8 million, and EBIT was SEK -10.5 million, both negative but improved from the prior year.

• Profit before tax for the full year was SEK 62.3 million, a turnaround from a loss of SEK -99.5 million in 2023, mainly due to the sale of Eniro Group AB shares.

• SaaS subscription revenue grew by 50% in 2024, driven by strong performance in AI-powered sales automation and new customer acquisitions.

Financial highlights

• Q4 gross profit was SEK 1.9 million with a gross margin of 78.5%, slightly down from 80.0% last year.

• Full-year gross profit was SEK 9.7 million, gross margin improved to 80.4% from 66.3% year-over-year.

• Q4 operating expenses (excl. depreciation) were SEK 6.3 million; personnel costs SEK 3.1 million.

• Q4 net financial items were SEK -0.8 million; full-year net financial items were SEK 100.6 million, reflecting the Eniro transaction.

• Earnings per share before dilution for Q4 was SEK -0.03; for the full year, SEK 0.20.

Outlook and guidance

• Strategic focus on accelerating PRISM adoption with tailored solutions for SMEs, banking, and retail.

• Ongoing evaluation with D&B for PRISM integration at the Nordic level; delays with key partners have postponed major rollouts.

• Considering spinning off QBIM/Q-Sales for an independent listing to capitalize on AI-driven sales automation growth.

• No dividend proposed for 2024.