NEO Finance (NEOF1) Q4 2024 earnings summary

Executive summary

• Revenue in Q4 2024 increased by 12% year-over-year to EUR 1.57 million, with EBITDA up 32% and profit before tax up 50%.

• E-money issuance and management revenue grew 35%, while P2P lending revenue rose 6% and investment activity income declined 20%.

• Structural changes included new leadership roles and the establishment of a Marketing and Communications Department.

• The Dutch retail investor base surpassed 1,000 active monthly users, with a portfolio exceeding EUR 9 million.

• A EUR 100,000 provision was made for a regulatory fine, with ongoing legal appeal.

Financial highlights

• Q4 2024 revenue: EUR 1.57 million (+12% YoY); cost of sales: EUR 738k (-4% YoY); operating costs: EUR 703k (+28% YoY).

• EBITDA: EUR 263k (+32% YoY); EBITDA margin: 16.7%.

• Profit before tax: EUR 130k (+50% YoY).

• Full-year 2024 revenue: EUR 6.07 million (+29% YoY); EBITDA: EUR 1.02 million (+31% YoY); profit before tax: EUR 513k (+38% YoY).

• Gross profit for the year: EUR 486k (+86% YoY).

Outlook and guidance

• Focus remains on operational excellence, business growth, and investor engagement for 2025.

• Continued expansion in the Dutch market and enhancement of user experience and conversion rates.