ChargePanel (CHARGE) Q4 2024 earnings summary

Executive summary

• Achieved net revenue of 12,609 KSEK for 2024, up from 8,755 KSEK year-over-year, with strong SaaS-driven growth and expanded market presence.

• Signed a record agreement with KG Knutsson AB, adding 24,000 charging points and significantly increasing recurring revenue.

• Ended 2024 with 15,000 charging points, aiming for 45,000 by end of 2025, reinforcing position as a leading Nordic EV infrastructure provider.

Financial highlights

• Q4 2024 net revenue: 2,641 KSEK (up from 2,386 KSEK in Q4 2023); full-year net revenue: 12,609 KSEK (up from 8,755 KSEK in 2023).

• Q4 EBIT: -3,127 KSEK (improved from -4,264 KSEK); full-year EBIT: -10,674 KSEK (improved from -15,078 KSEK).

• Q4 net result: -3,276 KSEK (vs. -4,406 KSEK); full-year net result: -11,896 KSEK (vs. -15,445 KSEK).

• Cash at year-end: 6,246 KSEK (vs. 1,404 KSEK); operating cash flow for 2024: -12,760 KSEK (vs. -8,304 KSEK).

• Recurring revenues in Q4 grew 41% year-over-year and 7% sequentially.

Outlook and guidance

• Targeting monthly profitability during 2025, driven by increased recurring revenues from major new contracts.

• Expects to complete integration of 24,000 new charging points by Q4 2025, aiming for 45,000 total by year-end.

• Anticipates continued strong growth in both revenue and market share, supported by SaaS platform investments.