Insplorion (INSP) Q4 2024 earnings summary

Executive summary

• Q4 2024 saw increased interest in NPS-P2 hydrogen sensors, with three new customer contracts and a total of six customers by report time.

• Net sales for Q4 were SEK 264k (up from SEK 258k YoY); full-year net sales were SEK 1,865k (down from SEK 1,948k YoY).

• Loss after financial items improved to SEK -6,671k in Q4 (from SEK -8,694k YoY); full-year loss was SEK -19,665k (improved from SEK -24,266k YoY).

• Rights issue raised SEK 20.5 million before costs, strengthening liquidity for product launches.

• Exclusive distribution agreement signed with Consilium Safety Group for the marine market post-period, including a SEK 300k initial order.

Financial highlights

• Q4 earnings per share: SEK -0.13 (vs. SEK -0.47 YoY); full-year EPS: SEK -0.67 (vs. SEK -1.69 YoY).

• Cash flow from operating and investing activities: SEK -4,132k in Q4 (vs. SEK -4,445k YoY); SEK -18,650k for the year (vs. SEK -24,433k YoY).

• Cash and cash equivalents at year-end: SEK 12,753k (up from SEK 11,204k YoY).

• Solidity at year-end: 83% (vs. 84% YoY); quick ratio: 277% (vs. 285% YoY).

Outlook and guidance

• NPS-P2 sensor with ATEX certification targeted for Q2 2025 launch, with deliveries expected in Q3 2025.

• Focus on expanding international visibility and customer base in 2025, leveraging recent industry recognition.

• Continued ambition to secure more customer-funded hydrogen projects and maintain instrument sales via distributors.