My Beat (MYBEAT) Status Update summary

Financial performance and growth

• August net sales increased by 102% year-on-year, reaching 1,825,000 SEK.

• Gross profit rose by 1,219,000 SEK compared to August 2023, indicating strong margin improvement.

• EBITDA improved by 331,000 SEK year-on-year, with August showing a result of -23,000 SEK.

• EBIT improved by 211,000 SEK year-on-year, though still negative at -180,000 SEK for August.

• Net sales for the first four months of the fiscal year grew by approximately 99%.

Strategic initiatives and integration

• Merger with Silverstone completed in August; all figures now include Silverstone.

• New revenue recognition principles implemented, with adjustments made in August.

• Expansion of service offerings now includes digital security and electricity, in addition to telecom and broadband.

• Collaboration with a partner for TV and fiber broadband enhances customer value proposition.

Management commentary and outlook

• Management confirms strong progress toward the goal of doubling annual sales and achieving positive EBITDA.

• Board expresses satisfaction with the integration and performance of the sales organization.

• CEO highlights successful execution of the established plan, including sales integration.

• Board chairman notes continued positive development toward long-term objectives.