BIMobject (BIM) Q3 2024 earnings summary

Executive summary

• Shifted to a platform as a service model and multi-product platform to capitalize on sustainability regulations and digitalization trends in construction, with investments in new solutions and organizational development.

• Achieved early wins in the Nordics and US, ramped up investments for growth and leadership, and accelerated user growth on bimobject.com.

• Board and management collaboration has strengthened strategic execution.

• Achieved positive EBITDA of MSEK 1.0 and first-ever positive net income for a quarter, aided by seasonal effects on salaries.

Financial highlights

• ARR grew 7% in constant currency to MSEK 135.8; recurring revenue up 8% year-over-year and 3% quarter-over-quarter, now 80% of net sales.

• Net sales increased 5% year-over-year to MSEK 43.1 in Q3 2024; platform revenue showed strong growth.

• EBITDA: MSEK 1.0 (Q3 2023: MSEK 0.2); EBIT margin improved to -2% from -6%.

• Available liquid assets at period end: MSEK 214.0 (MSEK 55.3 cash, MSEK 158.7 short-term investments), providing a multi-year runway.

Outlook and guidance

• Entering a new growth-focused chapter, investing in scalable international solutions and leveraging new product launches.

• Three-year strategy aims for international expansion and product readiness for diverse regulatory environments.

• Growth timing is uncertain due to market and regulatory differences, but demand is evident, especially for sustainability and compliance solutions.