Valuno Group (VALUNO) Q4 2024 earnings summary

Executive summary

• Q4 2023/24 net sales reached €51.8 million, up 152% year-over-year and 121% sequentially, driven by new partners and in-house products.

• Achieved over 100% revenue growth for the third consecutive quarter, with 121% year-over-year growth in the latest quarter.

• Successfully pivoted from legacy infrastructure to a new product-focused model, enabling scalability and improved client acquisition.

• June 2024 showed a positive operating result, marking a return to profitability and operational improvements.

• Secured significant new contracts, including with high-profile clients such as Inet, demonstrating increased market trust and product competitiveness.

Financial highlights

• Q4 gross margin declined to 2.8% from 3.9% year-over-year due to high direct sales costs and increased lower-margin product volumes.

• Average daily transaction volume in June reached EUR 600,000, matching the previous fiscal year's peak.

• Cash and cash equivalents at year-end were €3.4 million, up from €1.1 million a year earlier, marking the highest level since the CFO joined.

• Adjusted EBITDA for Q4 was €-1.0 million; EBIT was €-1.4 million; net loss for the quarter was €-1.4 million.

• Short-term debts increased by SEK 50 million, mainly due to merchant debt from higher transaction volumes, with corresponding asset claims.

Outlook and guidance

• Management expects continued growth, supported by new e-retailer launches, Quickbit Pay, and the ability to target all EU countries under the new MiCA regulation.

• Focus remains on sustainable expansion rather than maintaining 100% quarterly growth.

• No formal guidance or forecasts provided for the current or future quarters, citing the need for responsible and reliable communication.

• Management expresses confidence in ongoing growth and profitability but refrains from specific projections.