Enersize (ENERS) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 increased to €50,678 from €34,422 year-over-year, with a 79% rise in cumulative sales for the nine-month period to €251,969.

• EBIT for Q3 was -€327,905, slightly worse than -€314,973 last year; nine-month EBIT improved to -€855,268 from -€998,354.

• The company is seeing positive trends in customer intake and new contracts, with a focus on larger, long-term clients and recurring revenue.

• Several new patents were granted in the US, India, and China, supporting future growth opportunities.

Financial highlights

• Gross margin for Q3 was 95% (100% last year); nine-month gross margin was 92% (61%).

• Result before tax for Q3 was -€332,261 (vs. -€320,091); for the period, -€1,091,499 (vs. -€1,036,754).

• Cash flow from operations for Q3 was -€204,457 (vs. -€276,224); for the period, -€968,772 (vs. -€1,063,226).

• Cash and cash equivalents at period end were €224,800 (vs. €168,406).

• Solid equity ratio at 71.7% (83.3% last year).

Outlook and guidance

• Management expects continued growth in recurring revenues and a stable platform for 2025, driven by long-term contracts and increased customer demand for energy optimization.

• The company is optimistic about a potential turnaround and sees increasing relevance due to EU sustainability requirements.