Raytelligence (RAYTL) Q3 2024 earnings summary

Executive summary

• Implemented a new business model and completed the acquisition of High Speed Interconnects, LLC (HSI), with improved NAV and share price reflecting strategic progress.

• HSI, a US-based coaxial cable manufacturer, reported USD 15.8 million in 2023 revenue and holds a USD 20 million order backlog.

• Raytelligence plans to distribute a substantial portion of HSI shares to its shareholders as a dividend and is exploring further spinouts and investments.

• Several extraordinary general meetings were held to approve share issues, board changes, and structural adjustments, including a 100:1 share consolidation.

• The company is actively pursuing reverse acquisitions and divestments to maximize shareholder value, including the sale of Eazense ONE and Inno-XTM projects for USD 450,000.

Financial highlights

• Group revenues for January–September 2024 were SEK 584,000 (340,000), with net sales of SEK 571,000 (291,000).

• Net loss for the period was SEK -2,619,000, a significant improvement from SEK -49,843,000 year-over-year.

• Earnings per share after tax were SEK -0.005, compared to SEK -0.210 for the same period last year.

• Cash flow for the period was SEK -616,000, with cash and cash equivalents at SEK 273,000 as of September 30, 2024.

• Equity as of September 30, 2024, was SEK 3,000,000, with an equity ratio of 70.2% (88.9%).

Outlook and guidance

• The board sees good future prospects due to progress in new business and investments in sales, production, and product development.

• No formal forecast is provided for the coming period.