Sprint Bioscience (SPRINT) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 were 14.8 MSEK, down from 39.6 MSEK in Q3 2023, mainly due to lower activity and seasonality.

• Operating loss for Q3 was -5.4 MSEK, compared to a profit of 28.4 MSEK in Q3 2023; net loss after tax was -5.2 MSEK.

• For Jan–Sep 2024, net sales reached 49.4 MSEK, up from 39.6 MSEK year-over-year, but operating loss widened to -14.8 MSEK.

• Cash flow from operations was negative at -17.2 MSEK for the nine-month period, with cash and equivalents at 31.7 MSEK at period end.

• New CFO Niklas Axelsson, with over 25 years of industry experience, joined in October 2024.

Financial highlights

• Q3 net sales: 14.8 MSEK (Q3 2023: 39.6 MSEK); Jan–Sep: 49.4 MSEK (Jan–Sep 2023: 39.6 MSEK).

• Q3 operating result: -5.4 MSEK (Q3 2023: 28.4 MSEK); Jan–Sep: -14.8 MSEK (Jan–Sep 2023: 4.3 MSEK).

• Q3 net result: -5.2 MSEK (Q3 2023: 28.6 MSEK); Jan–Sep: -14.1 MSEK (Jan–Sep 2023: 4.6 MSEK).

• Q3 EPS: -0.07 SEK (Q3 2023: 0.41 SEK); Jan–Sep EPS: -0.20 SEK (Jan–Sep 2023: 0.07 SEK).

• Cash flow from operations: -4.3 MSEK in Q3 (Q3 2023: 39.6 MSEK); -17.2 MSEK for Jan–Sep (Jan–Sep 2023: 25.6 MSEK).

Outlook and guidance

• No formal forecast provided; company continues to seek new partnerships and licensing deals to support future growth.