Nowonomics (NOWO) Q4 2024 earnings summary

Executive summary

• Revenue increased by 52% year-over-year to 16.3 MSEK, with EBITDA improving by 14.4 MSEK to -12.7 MSEK from -27.1 MSEK.

• Nowo Global Fund's AUM grew by 39% to 596 MSEK, and the fund delivered a return of over 21% for the year.

• Cost-saving programs reduced expenses by 18%, and the company achieved its first profitable quarter in Q3 2024.

• Net result for the year was -20.4 MSEK, a significant improvement from -36.9 MSEK in 2023.

• No dividend proposed for 2024.

Financial highlights

• Q4 revenue rose to 3.4 MSEK from 2.1 MSEK year-over-year; full-year revenue reached 16.3 MSEK from 10.7 MSEK.

• EBITDA for Q4 improved to -3.4 MSEK from -6.3 MSEK; full-year EBITDA was -12.7 MSEK versus -27.1 MSEK.

• Net loss per share for the year was -1.01 SEK, improved from -3.09 SEK in 2023.

• Cash and bank balances at year-end were 6.4 MSEK, up from 3.2 MSEK.

• Equity increased to 20.7 MSEK from 12.6 MSEK year-over-year.

Outlook and guidance

• Continued focus on cost reduction and revenue growth to close the gap between expenses and income.

• Management expects to reach sustainable profitability as AUM and user base grow.

• No significant events have occurred after the reporting period.