Aino Health (AINO) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 were KSEK 5,712, a slight increase from KSEK 5,633 in Q3 2023; nine-month net sales reached KSEK 17,941, up from KSEK 17,605 year-over-year.

• Loss after financial items for Q3 2024 was KSEK -1,504, compared to KSEK -1,215 in Q3 2023; nine-month loss improved to KSEK -6,464 from KSEK -6,812.

• SaaS subscribers grew to 112,000 by the end of Q3 2024, up from 101,000 in Q2 2024.

• New business wins and customer network expansion contributed to a positive market outlook.

Financial highlights

• Operating loss for Q3 2024 was KSEK -1,327, compared to KSEK -882 in Q3 2023.

• Cash flow from operating activities in Q3 2024 was KSEK -2,798, down from KSEK -1,628 in Q3 2023.

• Equity ratio improved to 30% as of September 30, 2024, from 21% a year earlier.

• Earnings per share for Q3 2024 remained at SEK -0.0; for the nine months, improved to SEK -0.1 from SEK -0.2 year-over-year.

• Cash and bank balances at quarter-end were KSEK 1,522, down from KSEK 3,404 a year earlier.

Outlook and guidance

• Management expects improved liquidity in H1 2025 due to new agreements starting in Q4 2024 and Q1 2025.

• Anticipates growth in sales, earnings, and cash flow in the coming year, driven by secured new business and increased market activity.