Aino Health (AINO) Q2 2024 earnings summary

Executive summary

• Net sales increased to KSEK 6,236 in Q2 2024 from KSEK 5,791 in Q2 2023, driven by SaaS growth, while consulting declined.

• Loss after financial items improved to KSEK -2,017 in Q2 2024 from KSEK -2,807 in Q2 2023; EPS at SEK 0.0 vs. -0.1.

• Number of SaaS subscribers reached 112,000 at end of Q2 2024, up from 101,000 in Q1 2024.

• Product development focused on a new data analytics module to identify root causes of sickness absence and productivity.

Financial highlights

• Net sales for Jan–Jun 2024 were KSEK 12,230, up from KSEK 11,971 in Jan–Jun 2023.

• Loss after financial items for Jan–Jun 2024 was KSEK -4,960, improved from KSEK -5,598 year-over-year.

• Cash flow from operating activities in Q2 2024 was KSEK -374, a significant improvement from KSEK -2,122 in Q2 2023.

• Equity ratio improved to 34% as of June 30, 2024, from -54% a year earlier.

Outlook and guidance

• Data analytics module to be rolled out more widely in Q3 2024, aiming to enhance client performance and wellbeing.

• Focus remains on increasing SaaS licenses and improving profitability in the second half of 2024.