ScandiDos (SDOS) Q4 2024 earnings summary

Executive summary

• Revenue for the fiscal year decreased by 2% to 60.4 MSEK, with a 24% drop in Q4 due to delayed orders and market hesitancy, especially in North America and parts of Europe.

• EBITDA for the year was -5.9 MSEK, impacted by one-time restructuring costs and inventory write-downs; Q4 EBITDA was -1.3 MSEK.

• Net loss for the year widened to -14.6 MSEK, mainly due to a 5.3 MSEK impairment on Delta4 Insight and 1.8 MSEK in restructuring costs.

• A rights issue was completed and oversubscribed, raising 17.6 MSEK after costs to support restructuring and focus on core 3D phantom products.

Financial highlights

• Q4 revenue fell to 14.7 MSEK from 19.3 MSEK year-over-year; full-year revenue was 60.4 MSEK versus 61.6 MSEK.

• Gross margin for the year was 75% (down from 80%); Q4 gross margin was 72% (down from 83%).

• EBITDA margin for the year was -10% (prior year: -5%); Q4 EBITDA margin was -9% (prior year: 17%).

• Net result per share for the year was -0.32 SEK (prior year: -0.20 SEK); Q4 was -0.17 SEK (prior year: 0.05 SEK).

• Cash flow from operations improved to 1.5 MSEK for the year (prior year: -11.9 MSEK).

Outlook and guidance

• Management expects continued demand for core solutions and aims to achieve profitability in the coming fiscal year, supported by cost reductions and capital raised.

• Full effect of cost savings from restructuring is anticipated in the next year.