FSport (FSPORT) Q3 2024 earnings summary

Executive summary

• Q3 2024 focused on future planning, finalizing a major cost-saving program, and preparing for expansion through new partnerships and acquisitions.

• Strategic collaboration with SEO expert Magnus Bråth and acquisition of Fans48 web service to enhance reach and international scalability.

• Rights issue completed, raising approximately 2.9 MSEK before costs, strengthening expansion and marketing capabilities.

Financial highlights

• Net revenue for Q3 2024 was 706 TSEK, nearly unchanged from Q3 2023 (711 TSEK).

• EBITDA for Q3 improved to -340 TSEK from -848 TSEK year-over-year; one-time costs of -191 TSEK related to the rights issue impacted equity.

• Net result after financial items for Q3 was -1,080 TSEK, an improvement from -1,709 TSEK in Q3 2023.

• Cash flow at quarter-end was -504 TSEK, with cash and cash equivalents at 2,152 TSEK, down from 4,320 TSEK a year earlier.

• Result per share for Q3 was -0.01 SEK, compared to -0.04 SEK in Q3 2023.

Outlook and guidance

• Final phase of cost-saving measures to take full effect in Q4 2024; fair comparison expected after Q1 2025.

• Launch of Fans48 planned for Q1 2025, targeting international football fans and supporting global expansion.

• Management expresses confidence in approaching profitability as operational improvements continue.