Vaxxa (VAXXA) Q4 2024 earnings summary

Executive summary

• Achieved 40% year-over-year revenue growth to 77.0 MSEK, with a 5.5 MSEK improvement in results compared to 2023.

• Auction closings increased 180% to 7,337 objects sold, reflecting successful market strategy.

• Strategic shift in Q4 from owning auction items to acting as intermediary led to lower revenue but improved margins and scalability.

• First-ever positive annual net result, with strengthened gross margin and international sales activities initiated.

Financial highlights

• Net revenue for 2024 was 77.0 MSEK, up from 54.9 MSEK in 2023; Q4 revenue was 16.8 MSEK, down from 27.8 MSEK in Q4 2023.

• EBITDA for 2024 reached 2.4 MSEK, a turnaround from -3.0 MSEK in 2023.

• Operating income for 2024 was 0.4 MSEK, compared to -4.3 MSEK in 2023.

• Net income for 2024 was 388 TSEK, compared to a loss of -5,096 TSEK in 2023.

• Cash and cash equivalents at year-end were 10.2 MSEK, up from 5.5 MSEK at the end of 2023.

Outlook and guidance

• Entering 2025 with a strong cash position and 95% subscription rate for TO6, providing capital for accelerated growth.

• Focus for 2025 is on international expansion and further profitability improvements.