KebNi (KEBNI) Q3 2024 earnings summary

Executive summary

• Achieved second consecutive quarter of positive operating cash flow and strong 187% year-over-year revenue growth to 28.3 MSEK in Q3 2024.

• Adjusted EBITDA margin reached 9% in Q3, reflecting underlying profitability despite one-time costs from closing Satmission AB.

• Year-to-date revenue up 221% to 90.2 MSEK, with adjusted EBITDA margin at 10%.

• Strategic focus sharpened on Inertial Sensing and Satcom, with Satmission AB operations closed post-period.

• Sales pipeline and order backlog remain strong, especially with key contracts like Saab NLAW.

Financial highlights

• Q3 2024 net sales: 28,295 KSEK (9,853 KSEK in Q3 2023), +187% year-over-year.

• Adjusted EBITDA: 2,646 KSEK (margin 9%); reported EBITDA: -1,154 KSEK (margin -4%).

• Net profit for Q3: -3,347 KSEK (Q3 2023: -11,098 KSEK); adjusted net profit: 453 KSEK.

• Year-to-date net sales: 90,176 KSEK (+221%); adjusted EBITDA: 8,909 KSEK (margin 10%).

• Cash at period end: 10,030 KSEK; total cash-at-hand including credit facility: 25 MSEK.

Outlook and guidance

• Full-year EBITDA target of 5–10% expected to be met, though revenue target of 150–200 MSEK likely not reached.

• Focus on ramping up series deliveries to Saab, product development, and intensified marketing in Europe and Asia.

• Anticipates first paying customer for ScaffSense in early 2025.