FamiCord (V3V) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 rose 6.3% year-over-year to €60.3 million, with B2C invoiced services up 12.4% to €55.3 million and recurring payments up 6.5% to €16.6 million.

• EBITDA increased 77.5% year-over-year to €6.4 million, aided by a €1.4 million one-time effect from new US CAR-T technology agreements.

• Cash flow from operating activities grew 61.1% to €7.8 million, and cash and cash equivalents reached €17.6 million.

• Market penetration improved, especially in Switzerland, Spain, Romania, and the GCC region, while Germany and Portugal remained weak.

• Placenta tissue banking was launched in Poland and Romania, with plans for a Europe-wide rollout.

Financial highlights

• Q3 2024 sales increased 8.9% year-over-year to €22.2 million; B2C invoiced services up 11.2% to €19.5 million.

• Q3 EBITDA rose 78.3% to €3.6 million, including a €1.4 million one-time effect; EBIT returned to profitability at €1.5 million.

• Net profit for Q3 was €1.1 million, compared to a loss of €1.6 million in Q3 2023.

• For the nine-month period, EBIT improved to €-0.3 million (prior year: €-2.8 million), and net loss narrowed to €-1.3 million (prior year: €-5.8 million).

• Earnings per share for the nine months were €-0.06, up from €-0.35 year-over-year.

Outlook and guidance

• Full-year 2024 guidance maintained: revenue between €81–88 million and EBITDA between €6.5–8.0 million.

• Further growth in storages and new customer contracts expected in select markets, with intensified marketing and sales activities planned.

• CDMO strategic planning nearly complete, with key points to be presented soon; further details expected in Q1 2025.