Zaplox (ZAPLOX) Q2 2024 earnings summary

Executive summary

• Achieved stable growth in Q2 2024, with improved key performance indicators and increased net sales year-over-year.

• EBITDA improved by 1.7 MSEK (27%) compared to Q2 2023, driven by higher subscription revenues and cost control.

• Strategic milestones include the launch of mobile keys at Radisson RED Brussels and the world's first hotel to offer mobile keys in both Apple Wallet and Google Wallet.

Financial highlights

• Net sales for Q2 2024 were 5,083 TSEK, up from 4,320 TSEK in Q2 2023; H1 2024 net sales reached 9,231 TSEK, up from 7,526 TSEK in H1 2023.

• Gross margin increased to 91% in Q2 2024 from 89% in Q2 2023.

• ARR at period end was 16,335 TSEK, up from 11,449 TSEK a year earlier.

• Result after financial items for Q2 2024 was -4,626 TSEK, an improvement from -6,447 TSEK in Q2 2023.

• Cash flow from operating activities in Q2 2024 was -3,954 TSEK, compared to -7,676 TSEK in Q2 2023.

Outlook and guidance

• Continued focus on expanding SaaS offerings and leveraging strategic partnerships for further growth.

• Ongoing efforts to identify and qualify new customers and partners, with a strong foundation for future expansion.