Zenicor (ZENI) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached 5,268 KSEK, up 4% year-over-year, marking the highest Q3 revenue to date.

• EBITDA for Q3 2024 was 1,104 KSEK, a significant improvement from -1,981 KSEK in Q3 2023.

• Operating income turned positive at 110 KSEK, compared to -2,758 KSEK in the same quarter last year.

• Operating income per share was 0.01 SEK, up from -0.31 SEK year-over-year.

• Fourteenth consecutive quarter of revenue growth achieved.

Financial highlights

• Revenue for Q3 2024: 5,268 KSEK (Q3 2023: 5,085 KSEK), a 4% increase year-over-year.

• EBITDA for Q3 2024: 1,104 KSEK (Q3 2023: -1,981 KSEK).

• Operating income for Q3 2024: 110 KSEK (Q3 2023: -2,758 KSEK).

• Net result for Q3 2024: -633 KSEK (Q3 2023: -3,063 KSEK).

• Cash and cash equivalents at period end: 375 KSEK (Q3 2023: 4,148 KSEK).

Outlook and guidance

• Targeting 20% growth rate through continued sales of Zenicor Solution and aiming for a positive full-year result.

• Cash flow and liquidity remain challenging but are expected to improve through increased sales, cost efficiency, and refinancing short-term loans.

• Ongoing screening projects in Sweden and the UK are progressing as planned, with results expected in 2025.