Unibap (UNIBAP) Q3 2024 earnings summary

Executive summary

• Set for a strong finish to 2024, with increased growth ambitions and significant new orders secured.

• Focused on edge computing in space, targeting rapid market growth and expanding presence in the US and defense sectors.

• Revenue for Q3 2024 was 17.7 MSEK, with trailing 12-month revenue up 57% year-over-year to 73.1 MSEK.

• Directed share issue and option conversion brought in 47 MSEK, strengthening the financial position.

Financial highlights

• Fourth highest quarterly revenue in company history; rolling 12-month growth vs last year at +57%.

• Q3 2024 net sales: 17,694 KSEK (down from 23,745 KSEK in Q3 2023).

• Jan–Sep 2024 net sales: 63,511 KSEK (40,448 KSEK in 2023); operating result: 3,005 KSEK (-8,753 KSEK in 2023).

• Majority of revenue from hardware; negative EBIT due to lower revenue and less activation.

• Cash and equivalents at period end: 40,492 KSEK.

Outlook and guidance

• Full-year 2024 growth expected to reach at least 70%, surpassing the previous 50% target.

• Medium-term ambition set at 30–50% annual revenue growth.

• TRL9 for iX10 postponed to early 2025 due to customer delay; production capacity target of 100 units per year.

• Plans to increase US market presence in 2025, targeting hybrid LEO Defence segment.