Vidhance (VIDH) Q2 2024 earnings summary

Executive summary

• Net sales for Q2 2024 were SEK 9.2m, down 28% year-over-year, reflecting continued challenges after the loss of a major Chinese customer.

• EBITDA improved to SEK -2.9m from SEK -4.8m in Q2 2023, showing cost control despite lower revenue.

• Net result for Q2 was SEK -5.4m, compared to SEK -3.2m last year; EPS was SEK -1.17 versus SEK -0.70.

• Cash position at quarter-end was SEK 49.1m, providing flexibility for continued investment in product development.

• First-ever dividend of SEK 0.70 per share was paid following the AGM in May 2024.

Financial highlights

• H1 2024 net sales totaled SEK 17.3m, down from SEK 24.6m in H1 2023.

• H1 EBITDA was SEK -6.3m, an improvement from SEK -10.4m year-over-year.

• H1 net result was SEK -11.3m, compared to SEK -7.2m in H1 2023.

• Cash flow after investments for H1 was SEK -13.4m, versus SEK -14.9m last year.

• Equity at period-end was SEK 67.5m, down from SEK 92.3m a year earlier.

Outlook and guidance

• Ongoing investment in next-generation video solutions with a focus on AI integration.

• Management expects continued lower sales until new products are launched and delivered.

• Financial targets for 2026: at least SEK 60m in net sales and a minimum 15% EBITDA margin.