BactiQuant (BACTIQ) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 declined to DKK 3.0 million from DKK 6.3 million in H1 2023, mainly due to the loss of a key US customer and reduced pharma segment sales, partially offset by growth in water utility and aquaculture segments.

• EBITDA loss widened to DKK -6.4 million from DKK -5.0 million year-over-year; pre-tax loss increased to DKK -7.6 million from DKK -6.2 million.

• Cash position improved to DKK 4.3 million as of June 30, 2024, compared to DKK 0.9 million a year earlier.

• Equity decreased to DKK 6.8 million from DKK 8.1 million year-over-year.

Financial highlights

• Revenue dropped 52% year-over-year, with the largest declines in the US and pharma segments.

• EBITDA loss increased by DKK 1.3 million year-over-year.

• Net loss for H1 2024 was DKK -7.6 million, with EPS at DKK -0.32 (unchanged from H1 2023).

• Cash flow from operations was negative at DKK -7.4 million; cash reserves at period end were DKK 4.3 million.

Outlook and guidance

• 2024 guidance maintained: revenue expected between DKK 9–13 million and EBITDA between DKK -8 and -11 million.