BactiQuant (BACTIQ) Q2 2024 TU earnings summary

Executive summary

• Exceptional performance in Oil & Gas and pharma segments in Q2 2024, though resource constraints limit day-to-day sales activities.

• Ongoing efforts to accelerate growth through potential changes in ownership structure, targeting institutional investors or new owners.

Financial highlights

• Revenue for H1 2024 was DKK 3.0 million, down from DKK 6.3 million in H1 2023, mainly due to declines in the US and pharma segments.

• Hardware sales fell from DKK 3.0 million to DKK 0.7 million year-over-year; recurring revenue from test kits dropped from DKK 2.7 million to DKK 1.9 million.

• Other revenue (installation, training, etc.) decreased from DKK 0.6 million to DKK 0.4 million.

Outlook and guidance

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