SyntheticMR (SYNT) Q4 2024 earnings summary

Executive summary

• Net sales for Q4 2024 fell 58% year-over-year to 12.6 MSEK; full-year sales declined 38% to 55.7 MSEK.

• Operating profit for Q4 was -7.5 MSEK (margin -59%); full-year operating profit was -18.3 MSEK (margin -33%).

• Adjusted for acquisition costs, Q4 operating profit was -5.6 MSEK and full-year -16.5 MSEK.

• Net profit for Q4 was -5.3 MSEK; full-year net profit was -16.1 MSEK.

• Major events included the acquisition of Combinostics Oy, regulatory approvals for SyMRI 15 (3D), and several CEO changes.

Financial highlights

• Q4 net sales: 12.6 MSEK (30.1), -58% year-over-year; full-year: 55.7 MSEK (89.2), -38%.

• Q4 operating profit: -7.5 MSEK (8.8); full-year: -18.3 MSEK (14.1).

• Q4 net profit: -5.3 MSEK (4.6); full-year: -16.1 MSEK (10.0).

• Q4 EPS: -0.14 SEK (0.10); full-year EPS: -0.39 SEK (0.23).

• Cash and cash equivalents at year-end: 51.0 MSEK (21.3).

Outlook and guidance

• Early 2025 sales show promising signs of recovery.

• Focus areas for 2025 include rebuilding sales capacity, integrating Combinostics, and targeting Alzheimer's disease applications.

• Cost savings from the Combinostics acquisition expected to reach at least 10 MSEK annually, with full effect from Q3 2025.