SensoDetect (SDET) Q3 2024 earnings summary

Executive summary

• Expanded presence in MENA via new partnerships and commercial agreements in Saudi Arabia and UAE, including first international contract in Riyadh.

• Appointed Dr. Mohamed Hussein Atwa Ahmed as Global Head of Clinical Research to drive autism studies in Saudi Arabia and the US.

• Registered a new autism study in the US, aiming for increased global coverage.

• Trade Venue values MENA region potential at SEK 1.5 billion for SensoDetect.

Financial highlights

• Q3 2024 net sales were SEK 2k, unchanged year-over-year; net loss after financial items was SEK -1,846k (vs. -491k); EPS was about -0.006 SEK (vs. -0.004).

• Cash flow from operations in Q3 was SEK -2,237k (vs. 74k); cash and cash equivalents at period end were SEK 720k (vs. 150k).

• Equity ratio as of September 30, 2024, was 84% (vs. 39%).

• For the first nine months, net sales were SEK 12k (vs. 16k); net loss after financial items was SEK -6,940k (vs. -4,069k); EPS was about -0.02 SEK (vs. -0.04).

• Operating expenses increased due to higher consulting and personnel costs linked to MENA expansion.

Outlook and guidance

• Management expects further contract signings in MENA and continued progress in China JV discussions.

• The company is preparing for US market entry and expects increased global demand for ASD screening.

• Board sees good financing prospects through the exercise of TO2 options by January 2025.