Sound Dimension (SOUND) Q3 2024 earnings summary

Executive summary

• Achieved first commercial delivery of AiFi Together to Melodies Solutions, now live in the Mer Musik app targeting 1.7 million LO members.

• Strengthened financial position via a directed share issue and a strategic loan agreement of SEK 2,550,000 after the quarter's end.

• Focused on customer acquisition and liquidity, with the CEO highlighting the transition from development to a scalable, market-ready product.

Financial highlights

• Net sales for Q3 2024 were SEK 0 (Q3 2023: SEK 264,952); for Jan–Sep 2024, SEK 131,091 (Jan–Sep 2023: SEK 302,976).

• Operating loss for Q3 2024 was SEK -1,935,269 (Q3 2023: SEK -1,775,425); for Jan–Sep 2024, SEK -6,241,782 (Jan–Sep 2023: SEK -7,054,419).

• Cash flow for the period was SEK -835,913 (Jan–Sep 2023: SEK 3,260,563); cash and cash equivalents at period end were SEK 178,718 (Sep 2023: SEK 3,456,660).

• Equity at September 30, 2024, was SEK 147,991 (Sep 2023: SEK 4,143,589).

• Earnings per share for Q3 2024 were SEK -0.02 (Q3 2023: SEK -0.04).

Outlook and guidance

• Liquidity secured through new loan to meet increased demand; focus remains on acquiring more customers and leveraging the scalable product.

• Board notes uncertainty regarding equity position, with a control balance sheet under review and an extraordinary general meeting called for December 6, 2024.