Neovici Holding AB (NEO_B) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

It's Friday the 30th of August and with me here in the studio is Jan Berggren, who is the CEO of the fintech company Neovici. How are you? Very well, thank you. Great to have you here. Today you released your quarterly report for Q2 and Q1 of 2024. Are you happy with the results? Yes, it's our first report since we went to the stock market on the 2nd of July and the whole team and I are proud of the growth. New customers, new businesses, old customers, new businesses and above all new functions in our Cosmos platform. If we quickly dive into the figures, you decreased the turnover by some minus 2% during Q2, but still ended up with an increase in turnover of about 7% for the first half of the year. And you have a somewhat negative EBITDA result for Q2, minus 1.6 million, when you count on achieving profitability. Next year, the first half of the year, 2025, that's our set goal. So we're counting on that. And this negative EBITDA is due to costs for growth. We're building an organization and continuing. You're investing in future growth. And you've taken in some money for that, so you have that in the bank account as well, according to the plan. Completely according to the plan. So you took in about 30 million before you went to the stock market. Are you going to be able to afford that? That's our assessment. Exciting. If you look at another important key number, ARR, recurring revenues, it increased by 39% to 67.8 million kronor during Q2. What does this strong increase depend on? The main thing is the existing customers that grow in volume and buy new functions. That means that the volume grows and thus also the turnover. New functions are of course also a positive contribution. So you have satisfied customers. What does churn look like? Peppar peppar, ta i trä. Vi ...