QBNK (QBNK) Q4 2024 earnings summary

Executive summary

• Full-year 2024 revenue rose 5% year-over-year to 40.3 MSEK, with ARR up 12% to 35.7 MSEK and EBIT loss reduced to -1.6 MSEK from -7.7 MSEK.

• Q4 2024 saw recurring revenue increase 7% year-over-year, but total revenue declined 4% to 10.0 MSEK; EBIT loss halved to -0.8 MSEK.

• Strategic review initiated in January 2025 to maximize shareholder value, with new key customers added post-quarter.

Financial highlights

• Full-year net loss after tax improved to -1.0 MSEK from -6.1 MSEK; Q4 net loss after tax was -0.6 MSEK, improved from -1.2 MSEK.

• Operating cash flow for 2024 was 13.1 MSEK, up from -5.4 MSEK; Q4 operating cash flow was 6.4 MSEK.

• No investments in fixed assets during 2024; cash and equivalents at year-end were 21.5 MSEK, up from 8.5 MSEK.

Outlook and guidance

• Management targets profitability for full-year 2025, expecting continued ARR growth and improved margins.

• Strategic review may accelerate ARR growth and value creation.