SHT Smart High-Tech (SHT) Q3 2024 earnings summary

Executive summary

• Net sales increased 63% to 1,942 TSEK in Q3 2024 and 132% to 5,053 TSEK for Jan–Sep 2024, driven by higher deliveries to Thermal Grizzly and test orders from major electronics firms.

• Operating loss widened to -9,690 TSEK in Q3 and -31,035 TSEK for Jan–Sep, reflecting higher personnel and production costs.

• Cash position strengthened to 81,523 TSEK after a directed share issue in June, supporting production expansion and strategic flexibility.

• Major order from Thermal Grizzly and growing relationships with AMD and other tech giants signal commercial traction.

Financial highlights

• Q3 net sales: 1,942 TSEK (up 63% YoY); Jan–Sep: 5,053 TSEK (up 132% YoY).

• Q3 operating loss: -9,690 TSEK; Jan–Sep: -31,035 TSEK.

• Q3 net loss: -9,712 TSEK; Jan–Sep: -31,142 TSEK.

• Q3 cash flow from operations: -15,029 TSEK; Jan–Sep: -21,274 TSEK.

• Cash and cash equivalents at period end: 81,523 TSEK.

Outlook and guidance

• Ongoing production expansion in Sweden and China to meet rising demand, targeting 100,000 units/month by Q1 2025 and 1 million/month in 2026.

• Management expects a breakthrough order within six months, with continued strong demand from both consumer and enterprise markets.

• No formal financial forecasts provided.