Cloud Technologies (CLD) Q3 2024 earnings summary

Executive summary

• Q3 2024 data sales reached 11.6 mln PLN, up 16.9% year-over-year, while total revenue was 11.6 mln PLN, down 13% year-over-year.

• Net profit for Q3 2024 was 2.4 mln PLN, down 40.5% year-over-year.

• For Q1–Q3 2024, data sales rose 6.1%, EBITDA increased 3.0%, and net profit was 8.2 mln PLN, up 16% year-over-year.

• Adjusted EBITDA for Q3 2024 was 6.6 mln PLN, up 8% year-over-year.

• Acquisition of Nordic Data Resources AS in July 2024 expanded the international data distribution network.

Financial highlights

• Q3 2024 data sales were 11.6 mln PLN, representing 99.8% of total revenue.

• Q3 2024 adjusted EBITDA was 6.6 mln PLN, with a 56.5% margin on data sales.

• Cash flow from operations in Q3 2024 was 6.48 mln PLN; cash at period end was 11.9 mln PLN.

• Dividend of 5.6 mln PLN (1.25 PLN/share) paid in June 2024 for 2023 profits.

• For Q1–Q3 2024, data sales totaled 34.3 mln PLN, EBITDA 20.2 mln PLN, and net profit 8.2 mln PLN.

Outlook and guidance

• Strategic plan for 2023–2025 includes expanding data sales, acquisitions, R&D, and a share buyback program.

• Up to 100 mln PLN planned for investments by 2025, funded from internal resources.

• Oracle Advertising's closure is expected to reduce Q4 2024 data sales revenue, but may offer long-term growth opportunities.

• Google’s decision not to phase out 3rd party cookies in Chrome is expected to stabilize the market environment.