Qbrick (QBRICK) Q4 2024 earnings summary

Executive summary

• Achieved strong Q4 finish with 13% revenue growth year-over-year and positive EBITDA, marking the second consecutive positive quarter.

• Full-year revenue declined 7% to 27.9 MSEK due to challenging market conditions in spring and summer, but cost-saving measures improved results.

• Positive cash flow in Q4 (1.8 MSEK) for the first time since listing in 2021, with a solid balance sheet and 59.2% equity ratio.

• CEO transition announced; Krister Karjalainen appointed to drive growth and innovation.

Financial highlights

• Q4 2024 revenue: 8.6 MSEK, up 12% year-over-year; full-year revenue: 27.9 MSEK, down 7%.

• Q4 EBITDA: 1.3 MSEK (vs. -2.4 MSEK Q4 2023); full-year EBITDA: -0.6 MSEK (vs. -8.9 MSEK 2023).

• Q4 gross margin: 84.7% (vs. 72.3% Q4 2023); full-year gross margin: 82.4% (vs. 75.9%).

• Q4 net result per share: -0.02 SEK (vs. -0.11 SEK Q4 2023); full-year: -0.15 SEK (vs. -0.37 SEK).

• Cash at year-end: 3.9 MSEK (vs. 8.8 MSEK prior year).

Outlook and guidance

• Improved market sentiment at year-end, with positive customer dialogues, though caution remains due to macroeconomic uncertainty.

• Positioned for growth as market conditions improve, with readiness to scale operations.