Generic Sweden (GENI) Q4 2024 earnings summary

Executive summary

• Revenue grew 24% year-over-year in Q4 2024, reaching 47.81 MSEK, with EBITDA up 66% to 11.10 MSEK.

• Full-year 2024 revenue increased 24% to 176.45 MSEK, and EBITDA rose 17% to 34.30 MSEK.

• EPS for Q4 was 0.74 SEK (0.45), and for the year 2.22 SEK (1.90).

• Strong SaaS product growth, especially DOCS, and 95 new customer contracts signed in Q4.

• CEO transition announced, with a focus on ensuring a strong start to 2025.

Financial highlights

• Q4 gross margin improved to 43%, with gross profit up 24% year-over-year.

• Operating cash flow for Q4 was 7.58 MSEK (6.69), and for the year 24.06 MSEK (21.84).

• No interest-bearing debt; cash and equivalents at year-end were 40.62 MSEK (25.20).

• Proposed dividend of 1.60 SEK per share.

Outlook and guidance

• Continued strong demand for SaaS products, especially DOCS, with implementation in 52 municipalities.

• Stable cost base and scalable business model expected to support future growth.