Done.ai (DONE) Q2 2024 earnings summary

Executive summary

• Achieved fourth consecutive quarter of extraordinary organic growth, with Q2 2024 revenues up 35% year-over-year to SEK 100.6M and H1 2024 up 34% to SEK 205.2M.

• EBITDA improved significantly, reaching SEK 15.7M in Q2 and SEK 39.2M in H1, with positive margins after prior losses.

• Listed on Nasdaq First North Growth Market in July 2024, enhancing financial flexibility and international profile.

• Strategic partnerships with HSB, Lyvia Group, and ØkoRåd are expected to drive future growth and recurring revenue.

• Investments in AI, automation, and new business areas have begun to yield new revenue streams ahead of schedule.

Financial highlights

• Q2 2024 net sales: SEK 100.6M (+35% YoY); H1 2024 net sales: SEK 205.2M (+34% YoY).

• Q2 2024 EBITDA: SEK 15.7M (margin 16%); H1 2024 EBITDA: SEK 39.2M (margin 19%).

• Q2 2024 EBIT: SEK -5.7M; H1 2024 EBIT: SEK -3.3M.

• Q2 2024 profit after tax: SEK -5.4M; H1 2024 profit after tax: SEK 0.4M.

• Q2 2024 EPS: SEK -0.08; H1 2024 EPS: SEK 0.01.

Outlook and guidance

• Management expects growth to normalize but remains confident in maintaining strong momentum and balancing growth with profitability.

• Financial target set to reach SEK 500M in revenue and SEK 50M in EBITDA within 500 days, by Q4 2025.

• Continued investment in technology and product innovation to support sustainable growth.