White Pearl Technology Group (WPTG) Q4 2024 earnings summary

Executive summary

• Full-year 2024 revenue reached SEK 309.7 million, up 29.3% year-over-year, with Q4 revenue at SEK 83.7 million, a 39.9% increase.

• EBITDA for FY2024 rose 49.5% to SEK 50.5 million, with Q4 EBITDA nearly doubling to SEK 14.7 million.

• Net profit for FY2024 was SEK 25.3 million, with Q4 net profit at SEK 16.9 million.

• Strategic shift toward AI, innovation technologies, and subscription-based models began in 2024, supported by acquisitions.

• Operational improvements and a scalable business model support Vision 2028 and future growth.

Financial highlights

• Cash position more than doubled to SEK 23.7 million year-over-year, with a SEK 9 million directed share issue completed.

• Work in progress reduced from SEK 19.5 million to SEK 1.7 million.

• Current liabilities decreased 47% to SEK 21.8 million.

• Q4 EBITDA margin was 17.5%, up 2.8pp year-over-year; FY2024 EBITDA margin reached 16.3%.

• Gross margin improved to 37.8% for FY2024.

Outlook and guidance

• Vision 2028 targets SEK 700 million revenue and EBITDA margin above 17% by 2028.

• 2025 revenue guidance is SEK 370 million with EBITDA margin above 14%.

• AI and proprietary platforms expected to contribute SEK 45 million in 2025.

• Revenue growth expected to be split 50/50 to 60/40 between organic and acquisitive sources.

• Imminent OTC market listing expected within days.