Done.ai (DONE) Q3 2024 earnings summary

Executive summary

• Net sales grew 30% year-over-year to SEK 305.6 million for Jan–Sep 2024, with Q3 sales up 24% to SEK 100.5 million.

• EBITDA improved to SEK 56.9 million YTD and SEK 17.8 million in Q3, both positive versus losses last year.

• Operating profit (EBIT) remained negative at SEK -6.7 million YTD and SEK -3.4 million in Q3, mainly due to high amortization and one-off legal costs.

• Profit after tax was SEK -13.5 million YTD and SEK -13.9 million in Q3; EPS at SEK -0.20 and SEK -0.21 respectively.

• Announced agreement to sell ERP subsidiaries and assets to KKR for SEK 2.4 billion, with plans to focus on high-growth fintech, MRP, and CRM segments.

Financial highlights

• Q3 net sales: SEK 100.5 million (+24% YoY); YTD net sales: SEK 305.6 million (+30% YoY).

• Q3 EBITDA: SEK 17.8 million (vs. SEK -6.9 million Q3 2023); YTD EBITDA: SEK 56.9 million (vs. SEK -36.8 million YTD 2023).

• Q3 EBIT: SEK -3.4 million; YTD EBIT: SEK -6.7 million.

• Q3 profit after tax: SEK -13.9 million; YTD: SEK -13.5 million.

• Cash and cash equivalents at Q3 end: SEK 80.4 million.

Outlook and guidance

• Post-transaction, focus will shift to fintech, MRP, and CRM, leveraging existing assets and partnerships.

• SEK 200 million in cash to remain in the listed company after the sale, supporting new growth initiatives.

• Board intends to propose a dividend of approximately SEK 23 per share after debt settlement, subject to transaction completion.