Advenica (ADVE) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 increased by 20% year-over-year to 31.6 MSEK, driven by strong product sales and stable service delivery.

• Nine-month revenue rose 9% to 112.5 MSEK, with a significant improvement in operating profit to 0.7 MSEK from -7.7 MSEK.

• Product sales grew 45% year-over-year for the first nine months, reflecting both upselling to existing clients and new customer acquisitions.

Financial highlights

• Q3 2024 net sales: 31.6 MSEK (26.4 MSEK Q3 2023); EBIT: -2.1 MSEK (-6.8 MSEK); net result: -2.9 MSEK (-7.9 MSEK).

• Jan–Sep 2024 net sales: 112.5 MSEK (103.1 MSEK); EBIT: 0.7 MSEK (-7.7 MSEK); net result: 1.4 MSEK (-8.5 MSEK).

• Rolling 12-month revenue: 158.2 MSEK (149.1 MSEK); net result: 5.8 MSEK (0.1 MSEK).

• Cash flow from operations Jan–Sep: 11.3 MSEK (-16.3 MSEK); liquidity at period end: 80.8 MSEK (74.5 MSEK).

Outlook and guidance

• Management notes increased international market maturity and growing demand for cybersecurity solutions, especially outside Sweden.

• The company expects continued uncertainty in the external environment due to geopolitical risks and economic conditions, but no negative impact observed so far.