Bifogade filer
2024Q3 Report DIVIO
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Informationsteknik |
| Industri | Programvara |
SUMMARY OF THE REPORT
Third quarter: 1 JUL 2024 TO 30 SEP 2024
- Net sales increased by approximately 11% to KSEK 5,481 (4,954)
- MRR in September was KUSD 209 (151)
- EBIT was KSEK -3,540 (-3,618)
- EPS before dilution was SEK -0.00 (-0.03)
- Cash position was KSEK 1,201 (20,783)
Year to Date: 1 JAN 2024 TO 30 SEP 2024
- Net sales increased by approximately 9% to KSEK 15,656 (14,724)
- EBIT was KSEK -13,520 (-10,422)
- EPS before dilution was SEK -0.07 (-0.06)
SIGNIFICANT EVENTS (Third quarter)
- New client in the health care sector signed, increasing MRR by 38% with an order value of approximately MSEK 44 (contributing little to revenues during the quarter)
SIGNIFICANT EVENTS (Year to Date)
- Divio receives a contract extension of the value of approximately 12 MSEK in Q1 whereof 8 MSEK was prepaid in Q2
- Launch of self-service offering enabling free trials without hands-on involvement from Divio which will generate relevant leads for the sales team
SIGNIFICANT EVENTS AFTER THE QUARTER
- The Board of Directors resolved to carry out a fully guaranteed rights issue of approximately MSEK 15.5 before costs, later increased by MSEK 2 totalling MSEK 17.5 and was closed in November 2024
- First payment received from the new Swiss client in the health care sector post balance date
| Third quarter (3 months) | Year to date (9 months) | |||||||
| KSEK | 2024 | 2023 | % | 2024 | 2023 | % | ||
| Key Financials | ||||||||
| Subscription revenue | 5,213 | 4,821 | 8% | 14,932 | 13,637 | 9% | ||
| Professional services revenue | 268 | 133 | 102% | 724 | 1,087 | -33% | ||
| Net sales | 5,481 | 4,954 | 11% | 15,656 | 14,724 | 6% | ||
| Total revenue | 7,228 | 6,777 | 7% | 20,958 | 19,059 | 10% | ||
| Costs | -9,161 | -8,852 | -3% | -29,762 | -25,008 | -19% | ||
| EBITDA | -1,933 | -2,074 | 7% | -8,804 | -5,949 | -48% | ||
| Dep / Am | -1,607 | -1,543 | -4% | -4,716 | -4,473 | -5% | ||
| EBIT | -3,540 | -3,618 | 2% | -13,520 | -10,422 | -30% | ||
| MRR (KUSD) | 209 | 151 | 38% | |||||
| Cash position | 1,201 | 20,783 | -94% | |||||
CEO COMMENTS
This quarter has been remarkable for Divio, showcasing significant progress and tangible achievements that propel us closer to our strategic objectives, with a strong focus on driving growth.
Our sales efforts have yielded remarkable outcomes. Most notably, we secured a substantial agreement with a 3-year Swiss healthcare company valued at MSEK 44, contributing USD 56,000 in initial monthly revenue and an additional USD 59,000 in monthly recurring consultancy. This represents an impressive MRR growth of 38% compared to the same period last year. Alongside this, we’ve signed several agreements with promising startups—smaller in initial spending but with significant growth potential. As for many, a challenge lies in helping our customers realize the immense value our platform offers, ensuring they grow alongside us.
This newly signed deal is not only a financial milestone but also a strategic one, reducing our dependence on one single large customer and diversifying our revenue base. Early indicators show high growth potential with this customer, a trajectory we are already beginning to see materialize.
Thanks to increased sales and careful cost management, we have made substantial progress in closing the gap between expenses and revenues. Profitability remains one of our key objectives, and we are on track to achieve it. To provide the runway needed to reach this milestone without compromising operations, we successfully raised equity in Q4. I am deeply grateful for the confidence and support shown by our investors—it’s a testament to their belief in our vision and the results of our team’s hard work and perseverance.
We continue to invest in strengthening our sales capabilities. Enhancements to our sales engine are improving our ability to identify and reach customers at the right time with the right needs. Our increased focus on partner collaboration has also significantly contributed to our growing success.
Our partnership with AWS is now beginning to deliver results, and we have high expectations for further growth from this collaboration. Our recent recognition in the AWS ISV Accelerate program—a co-sell initiative for software providers integrated with AWS—is a testament to the strategic value we bring and a major boost to our market presence.
On the operational front, we remain committed to enhancing our platform and services. Over the past quarter, we’ve strengthened our engineering team with new expertise, enabling us to maintain our position at the technical forefront and deliver a high-standard product.
The continuous improvements we’ve made this year have expanded the platform’s capabilities, making it more versatile, user-friendly, and valuable for both new and existing customers.
The progress achieved this quarter is a clear indication that we have broken through previous challenges and are firmly on the path to becoming profitable in 2025. I want to extend my heartfelt thanks to the entire team for their unwavering dedication and exceptional effort. Together, we are building a strong foundation for sustainable growth and success.
Regards
Jon Levin, CEO