Qualisys (QSYS) Q4 2024 earnings summary

Executive summary

• Q4 2024 net sales rose 38.4% year-over-year to SEK 89.7 million, with full-year sales up 2.0% to SEK 254.2 million.

• Q4 operating profit (EBIT) reached SEK 28.5 million, up from SEK 6.9 million; adjusted EBIT was SEK 29.6 million.

• Full-year EBIT was SEK 50.2 million, with adjusted EBIT at SEK 54.2 million, reflecting stable profitability.

• Net profit for Q4 was SEK 22.3 million; full-year net profit was SEK 39.8 million.

• Board proposes a dividend of SEK 3.00 per share for 2024.

Financial highlights

• Q4 gross margin improved to 69.0% from 63.3% year-over-year; full-year gross margin was 69.2%.

• Q4 cash flow from operating activities after investments was SEK 33.7 million; full-year was SEK 56.6 million.

• Equity/assets ratio increased to 63.3% at year-end, with available liquidity at SEK 79.7 million.

• Order intake for the full year was SEK 298.5 million, up from SEK 214.5 million in 2023.

• No loan financing remains as of year-end; net cash position excluding IFRS 16 is SEK -79.7 million.

Outlook and guidance

• Orders received in Q4 were better than expected, with full-year order intake 39% ahead of 2023, providing a strong foundation for 2025.

• The company expects continued positive trends in line with long-term financial goals, despite quarterly fluctuations.

• Strategic expansion in APAC with the incorporation of the Singapore office as a subsidiary.