Odinwell (ODIN) Q4 2024 earnings summary

Executive summary

• Revenue for Q4 2024 was 1,130 KSEK, up from 1,073 KSEK in Q4 2023; full-year revenue reached 4,768 KSEK, up from 4,580 KSEK year-over-year.

• Operating loss for Q4 improved to -1,353 KSEK from -1,844 KSEK; full-year operating loss was -6,474 KSEK, an improvement from -7,045 KSEK.

• EPS for Q4 was -0.05 SEK, unchanged year-over-year; full-year EPS improved to -0.22 SEK from -0.25 SEK.

• Key milestones in 2024 included a new permanent CEO, progress in bacteria sensor development, and expanded patent strategy.

• Clinical pilot study initiated in February 2025 to further validate product efficacy.

Financial highlights

• Cash and cash equivalents at year-end were 4,554 KSEK, down from 11,119 KSEK at the end of 2023.

• Short-term investments totaled 1,830 KSEK at year-end, down from 5,176 KSEK.

• Operating cash flow for Q4 was -840 KSEK; full-year operating cash flow was -4,175 KSEK, improved from -5,595 KSEK in 2023.

• Equity ratio remained high at 95% at year-end.

Outlook and guidance

• Sales efforts for the bacteria sensor product began in Q4 2024, with ongoing discussions with interested companies.

• Clinical pilot study planned for spring 2025 to generate evidence for the product.

• Focus on miniaturizing the transponder and expanding patent portfolio, including new applications beyond wound care.