Slide 1: Financial Presentation Q4 2024
Financial Presentation Q4 2024 February 13, 2025
Slide 2: Q4'24 - Back to growth
Q4’24 - Back to growth REVENUE 2024 Change 22.0% Increased revenue in Q4 2024 vs Q4 Q4 16.9 MUSD 22.0% 2023 and record high invoicing in Q4 2024 12M 55.5 MUSD -5.1% Growth fueled by high market active combined with attractive product offering GROSS MARGIN 2024 2023 Q4 49.0% 50.5% 12M 48.1% 50.0% Sta
Slide 3: Smartoptics in brief
smartoptics Smartoptics in brief
Slide 4: Drivers for revenue growth acceleration
Drivers for revenue growth acceleration Progress on Very high activity New products AI demands large account level in all well received in additional growth strategy regions the market driver • Additional driver to the • Reported new accounts • No major difference in • 2024 product releases ever-gro
Slide 5: Q4'24 deep dive
smartoptics Q4’24 deep dive
Slide 6: Revenue growth turned the corner, back to growth
Revenue growth turned the corner, back to growth Revenue and EBITDA margin per quarter Comments • Flat years are a result of four negative 17.5 17.0 16.9 quarters 14.6 14.1 13.8 13.5 13.6 11.8 12.6 13.0 13.0 • Smartoptics is among the best performers in this period (source Cignal.AI) 23% 22% 20% 15%
Slide 7: Continuously growing indirect and direct customer base
Continuously growing indirect and direct customer base Active customers Comments • Steady growth in invoiced customers 291 YoY 267 • New customers represented USD 7.8 million in 2024 228 • High customer retention – more than 192 50% of revenue in 2024 from 173 customers acquired in and before 2020 1
Slide 8: Strong quarter in EMEA demonstrating market comeback, and continued positive development in APAC
Strong quarter in EMEA demonstrating market comeback, and continued positive development in APAC Revenue per region and quarter – Last 5 quarters MUSD Americas EMEA APAC +59% 8.4 -9% 7.5 6.9 6.9 6.4 6.2 5.7 5.5 5.3 4.6 +54% 1.5 1.6 1.0 1.1 0.7 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 2023 2024 2
Slide 9: Growth in all business areas
Growth in all business areas Revenue per business area and quarter – Last 5 quarters MUSD Solutions Devices Software & Services +22% 10.3 8.4 7.4 7.3 6.5 +11% 4.0 3.8 4.0 3.6 3.7 +44% 2.6 1.8 2.1 2.0 1.8 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 2023 2024 2023 2024 2023 2024 9
Slide 10: Summary of Q4 financial performance
Summary of Q4 financial performance Revenue EBITDA & EBIT Operating cash flow MUSD MUSD MUSD +22.0% EBITDA EBIT 5.6 2.3 2.4 1.8 1.8 2.3 2.5 1.1 1.1 0.6 16.9 1.0 13.8 12.6 13.0 13.0 0.5 0.5 0.5 -1.9 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 Gross margin and EBITDA margin Comments % 50.5 % 49.0 % 4
Slide 11: Strong financial position
Strong financial position Balance sheet Dec 31, 2024 Working capital development past 5 quarters MUSD MUSD 48.9 48.9 16.5 17.3 7.1 14.9 13.3 14.9 19.9 17.0 17.9 17.2 17.3 28.5 15.4 15.9 15.4 15.5 14.6 14.6 15.6 14.7 14.2 13.5 14.1 13.0 14.0 12.6 11.5 33.9 Q4 Q1 Q2 Q3 Q4 0.8 Inventories Trade Receiva
Slide 12: Board intends to propose dividend of NOK 0.60 per share
Board intends to propose dividend of NOK 0.60 per share Board considerations Emphasizing stable to increasing dividend Anticipating positive financial development Solid financial position Strong cash flow Dividend policy updated to reflect above considerations Pending AGM approval Divide
Slide 13: Long-term ambitions stay firm
Long-term ambitions stay firm 2024 Q4 LTM 2025/2026 RESULTS RESULTS ASPIRATIONS REVENUE 16.9 MUSD 55.5 MUSD ~100 MUSD GROSS MARGIN 49.0% 48.1% ~45% EBITDA MARGIN 14.4% 10.1% ~17-20% EBIT MARGIN 10.8% 5.9% ~13-16% 13
Slide 14: Profit and Loss Statement
Profit and Loss Statement Profit and Loss Statement Q4 2024 2024 2023 2024 2023 Amounts in USD 1 000 Q4 Q4 YTD YTD Total revenue and other operating income 16 874 13 831 55 508 58 504 Direct cost of sales -8 603 -6 853 -28 784 -29 234 Employee benefit expenses -4 246 -3 562 -16 157 -14 141 Other ope
Slide 15: Balance Sheet
Balance Sheet Balance Sheet Dec 31, 2024 2024 2023 2024 2023 Amounts in USD 1 000 Amounts in USD 1 000 Q4 Q4 Q4 Q4 Capitalized development cost 1 575 1 232 Share capital 173 189 Share premium 13 121 12 404 Other Intangible assets 339 110 Other paid in capital - 20 Property, plant and equipment 3 006
Slide 16: Cash Flow Statement
Cash Flow Statement Cash Flow Statement Q4 2024 2024 2023 2024 2023 Amounts in USD 1 000 Q4 Q4 YTD YTD Cash flows from operating activities Profit/(loss) before income tax 2 965 1 869 5 379 9 590 Adjustments for Taxes paid -913 - -913 -240 Depreciation and amortization 616 503 2 293 1 860 Change in
Slide 17: Thank you
smartoptics Thank you