Insplorion (INSP) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 were TSEK 490, down from TSEK 1,491 in Q3 2023, reflecting volatility in instrument sales and customer funding cycles.

• Loss after net financial items widened to TSEK -3,459 from TSEK -2,745 year-over-year, mainly due to increased development and marketing costs.

• Cash flow from operating and investing activities was negative at TSEK -4,884, with cash and cash equivalents at TSEK 1,221 at quarter-end.

• Significant commercial progress included first orders in Japan and new projects with major international customers in packaging and automotive sectors.

• A partially guaranteed rights issue was resolved to strengthen liquidity, with a prospectus published and outcome announced after the period.

Financial highlights

• Net sales for Q3 2024: TSEK 490 (Q3 2023: TSEK 1,491); 9M 2024: TSEK 1,601 (9M 2023: TSEK 1,690).

• Operating loss for Q3 2024: TSEK -3,484 (Q3 2023: TSEK -2,749); 9M 2024: TSEK -13,019.

• Earnings per share for Q3 2024: SEK -0.15 (Q3 2023: SEK -0.21); 9M 2024: SEK -0.57.

• Cash flow from operating and investing activities for Q3 2024: TSEK -4,884 (Q3 2023: TSEK -5,296).

• Cash and cash equivalents at 30 September 2024: TSEK 1,221 (30 September 2023: TSEK 6,102).

Outlook and guidance

• Continued ambition to secure more customer-financed hydrogen sensor projects for long-term volume commercialization.

• Research instrument sales expected to remain dependent on customer funding availability.

• NPS-P2 hydrogen sensor launch planned for early 2025, with ATEX certification to enable larger sales volumes.