Done.ai (DONE) Q4 2024 earnings summary

Executive summary

• Net sales grew 26% year-over-year to SEK 413.2 million for 2024; Q4 net sales up 18% to SEK 107.6 million.

• Sale of ERP division to KKR for SEK 2.4 billion marked a transformational year, with significant one-time transaction costs and financial income impacting results.

• Profit after tax for 2024 reached SEK 1,530.4 million, driven by the ERP sale; earnings per share at SEK 22.43.

• Company rebranding to Done.ai Group, focusing on AI-driven embedded finance and MRP SaaS solutions.

Financial highlights

• EBITDA for 2024 was SEK 48.9 million; Q4 EBITDA was SEK -8.0 million, reflecting transaction-related costs.

• Operating profit (EBIT) for 2024 was SEK -80.5 million; Q4 EBIT was SEK -73.8 million.

• Cash and cash equivalents at year-end were SEK 2,281.9 million; equity/assets ratio at 83%.

• Excluding the sold ERP division, continuing businesses posted SEK 32.5 million in revenue (+27% YoY) and EBITDA of SEK -2.8 million (improved from SEK -25.5 million in 2023).

Outlook and guidance

• Strategic focus for 2025 is achieving run-rate profitability and scaling core MRP and Fintech business areas.

• First embedded finance products expected to go live in H2 2025, leveraging exclusive agreement with 24SevenOffice.

• SEK 200 million retained for growth capital to support organic initiatives and strategic acquisitions.