Zaplox (ZAPLOX) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 increased to 4,891 TSEK from 3,942 TSEK year-over-year, with a gross margin of 91% versus 87% last year.

• Annual recurring revenue (ARR) rose to 16,448 TSEK from 11,741 TSEK, a 43% increase in subscription revenues.

• Result after financial items for Q3 was -3,732 TSEK, slightly worse than -3,625 TSEK last year; EPS improved to -0.12 SEK from -0.22 SEK.

• Cash flow from operations improved to -4,711 TSEK from -5,374 TSEK; cash position at period end was 14,862 TSEK, up from 10,154 TSEK.

• Option exercise brought in 7.7 MSEK, strengthening the financial position.

Financial highlights

• Net sales for the first nine months reached 14,122 TSEK, up from 11,467 TSEK year-over-year.

• EBITDA for Q3 was -3,247 TSEK; EBIT was -3,720 TSEK.

• Net result for Q1-Q3 was -13,361 TSEK, an improvement from -15,103 TSEK last year.

• Solid equity ratio at 62%, up from 57% a year ago.

• Cash flow for Q1-Q3 improved to 7,907 TSEK from -1,308 TSEK, mainly due to financing activities.

Outlook and guidance

• The company is following its plan to achieve positive cash flow by the end of 2025.

• Ongoing procurement processes with multi-hotel customers and large chains are expected to support future growth.