Vaxxa (VAXXA) Q2 2024 earnings summary

Executive summary

• Achieved positive EBITDA of 1.3 MSEK in Q2 2024, a 2.6 MSEK improvement year-over-year, with positive cash flow and two consecutive profitable quarters.

• Revenue for Q2 2024 reached 21.9 MSEK, up from 10.1 MSEK in Q2 2023, driven by strong growth in the self-service auction platform.

• Strategic expansion planned in northern, southern, and central Sweden, with a major platform update (Vaxxa 2.0) set for launch in autumn 2024.

Financial highlights

• Q2 2024 net sales: 21.9 MSEK (10.1 MSEK Q2 2023); H1 2024: 42.4 MSEK (16.2 MSEK H1 2023).

• Q2 2024 EBITDA: 1.3 MSEK (–1.2 MSEK Q2 2023); H1 2024: 2.3 MSEK (–2.8 MSEK H1 2023).

• Net income for Q2 2024: 0.7 MSEK (–1.5 MSEK Q2 2023); H1 2024: 1.0 MSEK (–3.6 MSEK H1 2023).

• Cash position at period end: 10.4 MSEK; equity: 17.4 MSEK; long-term debt: 0.8 MSEK.

• Positive operating cash flow in H1 2024: 2.3 MSEK, with period-end cash up by 4.9 MSEK from year start.

Outlook and guidance

• Continued positive earnings trend expected, with no reliance on external financing for ongoing operations.

• Major platform upgrade (Vaxxa 2.0) to launch in autumn, aiming to enhance user experience and automation.

• Expansion into new geographic markets planned for the second half of 2024.