Compodium International (COMPDM) Q3 2024 earnings summary

Executive summary

• ARR reached 43.4 MSEK at period end, up 118% year-over-year, with 18% organic growth; SecureAppbox contributed 15.0 MSEK to ARR.

• Third consecutive quarter with positive EBITDA and first positive quarterly cash flow since listing.

• SecureAppbox acquisition completed, strengthening product portfolio and market position in secure communications.

Financial highlights

• Q3 net revenue was 7.6 MSEK (6.3), with SaaS revenue at 6.6 MSEK (6.2); nine-month net revenue was 23.8 MSEK (20.9).

• Q3 EBITDA was 2.3 MSEK (-1.6); nine-month EBITDA was 5.8 MSEK (-7.6).

• Q3 net result after tax was -0.8 MSEK (-4.0); nine-month net result was -3.1 MSEK (-15.0).

• Q3 cash flow was 0.2 MSEK (-1.3); nine-month cash flow was -5.5 MSEK (-4.4); cash at period end was 3.4 MSEK (12.9).

• Gross margin for SaaS was 89% (92%) in Q3; NRR improved to 99% (97%).

Outlook and guidance

• Focus remains on expanding the customer base, delivering high-quality secure communication solutions, and integrating SecureAppbox for synergies and efficiency.

• Cost optimization initiatives are expected to continue supporting gross margin.