MotorK (MTRK) H2 2024 earnings summary

Executive summary

• Achieved significant improvement in Cash EBITDA, reducing loss from €15.2M in FY23 to €8.8M in FY24, driven by integration synergies, efficiency, and disciplined management.

• Revenue grew 4.7% year-over-year to €40.3M, with recurring revenues up 7% to €32.1M, now 80% of total.

• Record sales pipeline of over €24M and strong progress on profitability position the company for sustained growth in 2025.

• Change in revenue recognition policy to "over time" per IFRS 15, with FY23 restated for comparability.

Financial highlights

• Cash EBITDA improved by 42% year-over-year, loss reduced to €8.8M from €15.2M.

• Adjusted EBITDA nearly breakeven at -€0.5M, up from -€5.8M in FY23.

• Net financial position at -€20.2M at year-end.

• Net loss for FY24 was €12.9M, improved from €17.7M in FY23.

• Free cash flow was -€9.9M, improved from -€14.6M in FY23.

Outlook and guidance

• Targeting 10–13% CARR growth year-over-year and positive Cash EBITDA by end of FY25.

• Focus on converting record pipeline into revenue, scaling platform, and leveraging AI-driven solutions.