Insplorion (INSP) Q2 2024 earnings summary

Executive summary

• Net sales for Q2 2024 increased to 160 KSEK from 141 KSEK year-over-year, with a reduced net loss of -5,376 KSEK compared to -7,113 KSEK.

• Interest in Insplorion's hydrogen sensor technology is growing, with new projects and partnerships, including a Vinnova project with Saab and the first order in Japan.

• The company is transitioning from a development to a product company, focusing on ATEX certification for the NPS-P2 sensor, expected in Q1 2025.

Financial highlights

• Net sales for Q2 2024 were 160 KSEK, up from 141 KSEK in Q2 2023; operating income was 1,363 KSEK.

• Profit after financial items improved to -5,376 KSEK from -7,113 KSEK year-over-year.

• Earnings per share for the quarter were -0.23 SEK, compared to -0.54 SEK in Q2 2023.

• Cash flow from operating and investing activities was -4,132 KSEK, an improvement from -7,820 KSEK in Q2 2023.

• Cash and cash equivalents at period end were 6,105 KSEK, down from 11,448 KSEK a year earlier.

Outlook and guidance

• Near-term focus is on completing ATEX certification and launching the NPS-P2 sensor in Q1 2025.

• Plans to apply for up to MEUR 2.5 in EU funding via the EIC Accelerator in spring 2025.

• Continued emphasis on customer-financed hydrogen projects and growth in research instruments.