StoneBeach Group (SBG) Q2 2024 earnings summary

Executive summary

• Revenue for Q2 2024 increased by 19% to 1.9 MSEK compared to 1.6 MSEK in Q2 2023, aligning with expectations.

• EBITDA improved by 0.7 MSEK to -0.2 MSEK in Q2 2024, driven by cost reduction initiatives.

• Operating loss narrowed by 0.7 MSEK to -0.9 MSEK in Q2 2024, reflecting ongoing cost efficiencies.

• Strategic transformation includes integration of AI solutions in cybersecurity and organizational rationalization.

• Order intake included a 0.4 MSEK order during the quarter; post-period, penalties were collected for two broken lock-up agreements.

Financial highlights

• Six-month revenue was 3.6 MSEK, unchanged from the prior year.

• Six-month EBITDA improved to -0.1 MSEK from -1.1 MSEK year-over-year.

• Net result after financial items for Q2 2024 was -0.9 MSEK, compared to -1.6 MSEK in Q2 2023.

• Cash and bank balances increased to 1.4 MSEK from 0.1 MSEK year-over-year.

• No new share issues in Q2 2024; previous capital raise in 2023 contributed to liquidity.

Outlook and guidance

• Management expects to accelerate growth by expanding business opportunities and strengthening customer relationships.

• Continued focus on cost optimization, market position, and profitability while maintaining strong cost control.