Bifogade filer
2024Q4 Report DIVIO
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Informationsteknik |
| Industri | Programvara |
SUMMARY OF THE REPORT
Fourth quarter: 1 SEP 2024 TO 31 DEC 2024
- Net sales increased by 86% to KSEK 9,541 (5,140)
- MRR in December was KUSD 203 (153), an increase by 33%
- EBITDA was KSEK -8 (-2360)
- EBIT was KSEK -1,665 (-3,871)
- EPS before dilution was SEK -0.01 (-0.02)
- Cash position was KSEK 9,273 (12,637)
Year to Date: 1 JAN 2024 TO 31 DEC 2024
- Net sales increased by approximately 27% to KSEK 25,197 (19,864)
- EBITDA was KSEK -8,813 (-8,309)
- EBIT was KSEK -15,185 (-14,296)
- EPS before dilution was SEK -0.08 (-0.08)
SIGNIFICANT EVENTS (Fourth quarter)
- Successful fundraise closed in November raising MSEK 17.5 in cash before costs
- A new client in the healthcare sector’s first payment received
SIGNIFICANT EVENTS (Year to Date)
- Divio receives an approximately MSEK 12 contract extension in Q1 of which MSEK 8 was prepaid in Q2
- Signing new Swiss enterprise clients in the healthcare sector increases MRR by 36%
SIGNIFICANT EVENTS AFTER THE QUARTER
- No significant events after the period
| Fourth quarter (3 months) | Year to date (12 months) | |||||||
| KSEK | 2024 | 2023 | % | 2024 | 2023 | % | ||
| Key Financials | ||||||||
| Subscription revenue | 6,765 | 5,011 | 35% | 21,698 | 18,648 | 16% | ||
| Professional services revenue | 2,776 | 129 | 2047% | 3,500 | 1,216 | 188% | ||
| Net sales | 9,541 | 5,140 | 86% | 25,197 | 19,864 | 27% | ||
| Total revenue | 10,762 | 8,016 | 34% | 31,720 | 27,075 | 17% | ||
| Costs | -10,771 | -10,376 | -4% | -40,533 | -35,384 | -15% | ||
| EBITDA | -8 | -2,360 | 100% | -8,813 | -8,309 | -6% | ||
| Dep. / Am. | -1,656 | -1,511 | -10% | -6,372 | -5,984 | -6% | ||
| EBIT | -1,665 | -3,871 | 57% | -15,185 | -14,293 | -6% | ||
| MRR (KUSD) | 203 | 153 | 33% | |||||
| Cash position | 9,273 | 12,637 | -27% | |||||
CEO COMMENTS
I am very pleased with our performance in the quarter and the overall result of all our efforts during the year. We set ambitious goals to scale our business and drive profitability, and this year, we have made strides toward achieving them. Net sales increased by 86%, while Monthly Recurring Revenue (MRR) grew by 35%.
Our sales efforts have delivered results, both in acquiring new customers and securing a major enterprise client — another important milestone in our growth journey. As previously mentioned, notably, we signed a substantial three-year agreement with a Swiss healthcare company valued at MSEK 44, contributing an initial USD 56,000 in monthly revenue and an additional USD 59,000 in recurring consultancy fees.
This deal alone has significantly contributed to our 33% year-over-year MRR growth. The onboarding process has gone smoothly, and we have successfully met the demands of this high-profile customer. A key challenge and a test was ensuring the stability of their infrastructure during the release of their annual report—a test we passed with excellence, earning praise from their stakeholders.
In addition, we have signed several agreements with companies with whom we see great opportunities to increase business and grow. While their initial investments are smaller, they present strong long-term growth potential. Helping these customers fully realize the value of our platform is a critical focus, as their success fuels our own expansion. We have also secured further agreements within the Swiss Army and recently renewed our contract with Girl Effect, reinforcing our footprint in key sectors.
Our partnership strategy continues to strengthen. We have recruited a new partner manager, carefully recruited from an agency with experience using our platform. Furthermore, our collaboration with AWS has deepened, with our inclusion in their accelerator program elevating our position within their partner ecosystem. This relationship has already contributed positively to our recent results both in direct and indirect sales as a guarantee for stability,
From a financial perspective, we have made notable improvements through restructuring and cost optimization, including shifting expenses to more cost-effective regions. Something that has started to materialize in the quarter. This, combined with improved sales, has resulted in our losses being halved and we are moving steadily towards profitability. Looking at our income statement for the quarter, COGS is increasing in line with Professional Service revenues according to our agreement with the newly signed large Swiss client, and our streamlining efforts are now visible in all other cost elements. While currency fluctuations, particularly a substantial decline in the CHF compared to the USD, have impacted reported MRR in USD. However, this does not affect our path to becoming cash-flow positive much.
Building on 2024’s strong momentum, our focus remains firmly on accelerating sales growth and achieving our key objective—reaching cash-flow positivity and becoming profitable. A goal that is coming closer and will create further stability for the company.
Jon Levin, CEO