Vaxxa (VAXXA) Q3 2024 earnings summary

Executive summary

• Achieved record Q3 with net sales more than doubling year-over-year to 21.3 MSEK, driven by strong auction revenues and strategic investments in permanent staff and platform development.

• EBITDA reached 0.6 MSEK for Q3 2024, reflecting improved operational efficiency and growth, while EBIT was breakeven due to increased investments.

• Opened a new Vaxxa Center in Umeå, strengthening market presence and operational capacity.

• Maintained a strong cash position, supporting ongoing strategic initiatives and upcoming platform launch.

Financial highlights

• Net sales for Q3 2024 were 21,349 TSEK, up from 9,949 TSEK in Q3 2023; nine-month sales reached 63,761 TSEK, up from 26,131 TSEK year-over-year.

• EBITDA for Q3 2024 was 595 TSEK (vs. -467 TSEK in Q3 2023); nine-month EBITDA was 2,865 TSEK (vs. -3,302 TSEK year-over-year).

• Net income for Q3 2024 was 7 TSEK (vs. -799 TSEK in Q3 2023); nine-month net income was 990 TSEK (vs. -4,392 TSEK year-over-year).

• Cash and cash equivalents at quarter-end were 7,625 TSEK, up from 4,419 TSEK a year earlier.

• Equity ratio improved to 72% at Q3 2024 from 61% in Q3 2023.

Outlook and guidance

• Anticipates launch of a new digital platform before end of October, expected to enable further scaling and strengthen market position.

• Strategic shift to hiring permanent staff over consultants aims to support sustainable long-term growth.