Tendo (TENDO) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 were 0 KSEK, with a nine-month total of 144 KSEK, down from 174 KSEK year-over-year.

• Operating loss for Q3 was -13,578 KSEK, with a nine-month loss of -18,484 KSEK, significantly higher than the previous year.

• A major write-down of intangible assets (10,999 KSEK) due to no longer meeting capitalization criteria under K3, leading to negative equity.

• Company is pursuing a reverse acquisition of Norrlands Online AB to secure future growth and reduce risk.

Financial highlights

• Q3 net sales: 0 KSEK (0 KSEK last year); nine months: 144 KSEK (174 KSEK last year).

• Q3 operating result: -13,578 KSEK (-1,996 KSEK last year); nine months: -18,484 KSEK (-5,290 KSEK last year).

• Q3 cash flow: -2,137 KSEK (-1,031 KSEK last year); nine months: 1,412 KSEK (-3,452 KSEK last year).

• EPS for Q3: -0.25 SEK (-0.20 SEK last year); nine months: -0.34 SEK (-0.54 SEK last year).

• Equity ratio at -10% (76% last year); total assets at 3,103 KSEK (14,525 KSEK last year).

Outlook and guidance

• Focus remains on minimizing costs and preserving shareholder value pending the outcome of the reverse acquisition.

• If the reverse acquisition is approved, negative equity will be resolved and a new growth trajectory is anticipated.