Nicoccino (NICO) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 reached 130 TSEK, up from 27 TSEK year-over-year, but net loss widened to -1,954 TSEK from -1,281 TSEK.

• Cash flow from operations was -2,937 TSEK, and cash at period end was 1,360 TSEK, down from 3,027 TSEK.

• Test launch with The e-Cig Store in 55 stores saw weaker than expected consumer response; ongoing discussions to improve outcomes.

• Application for Canadian market approval submitted; decision expected Q2 2025. No appeal on Norwegian sales permit rejection.

• Participation in major trade shows generated new leads and ongoing distributor discussions.

Financial highlights

• Q3 net sales: 130 TSEK (27 TSEK Q3 2023); net loss: -1,954 TSEK (-1,281 TSEK Q3 2023); EPS: -0.06 SEK (-0.05 SEK Q3 2023).

• 9M 2024 net sales: 295 TSEK (89 TSEK 9M 2023); net loss: -6,854 TSEK (-5,454 TSEK 9M 2023).

• Operating costs in Q3: -1,783 TSEK (-1,118 TSEK Q3 2023); cash flow from operations: -2,937 TSEK (-1,349 TSEK Q3 2023).

• Cash and cash equivalents at period end: 1,360 TSEK (3,027 TSEK Q3 2023); equity: 17,874 TSEK (26,913 TSEK Q3 2023).

• No investments in fixed assets during Q3 (757 TSEK Q3 2023).

Outlook and guidance

• Board expects current cash and unused loan guarantees (5,150 TSEK) to cover operational needs for the next 12 months.

• Ongoing constructive financing discussions; loan guarantees run until April 30, 2025.