EatGood (EATG) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was 3,706 TKR, down from 9,081 TKR in 2023, reflecting a sharp market slowdown and delayed customer projects due to inflation and higher interest rates.

• Net loss for 2024 widened to -3,361 TKR from -1,723 TKR in 2023; Q4 2024 net loss was -191 TKR compared to a profit of 96 TKR in Q4 2023.

• Activity increased in Q4 with new distributor agreements and several international orders, but overall demand remained weak.

Financial highlights

• Q4 2024 revenue was 1,056 TKR, down from 3,441 TKR in Q4 2023.

• Operating loss before depreciation for 2024 was -3,218 TKR, compared to -1,526 TKR in 2023.

• Cash and bank balances at year-end were 2 TKR, with liquidity under significant pressure.

• No dividend proposed for 2024.

Outlook and guidance

• Focus on expanding in the UK and US with new distributor partnerships and targeting public sector and marine segments.

• Anticipates continued interest in Lightfry's health, safety, and sustainability features, but market remains challenging.

• Sales stabilization and increased activity in Q4 provide cautious optimism for future growth.