October -
Net sales increased by 31 % YoY. Consolidated net sales ended at 91,238 (SEK 000s). EBITDA totaled -3,057 (SEK 000s). Operating profit, EBIT, was -25,045 (SEK 000s). Profit after tax was -60,943 (SEK 000s). Earnings per share was
January -
Net sales increased by 27 % YoY. Consolidated net sales ended at 325,984 (SEK 000s). EBITDA totaled -39,834 (SEK 000s). Operating profit, EBIT, was -129,231 (SEK 000s). Profit after tax was -167,975 (SEK 000s). Earnings per share was
CEO's comments
Strategic milestones achieved; surpassing growth targets and reaching EBITDA profitability
I am proud to report that 24SevenOffice has exceeded our ambitious growth targets and reached EBITDA profitability by year end. This is largely due to our focused execution on an ambitious growth investment strategy, where our substantial investments in core product enhancements and strategic growth areas like payroll and AI are now delivering significant returns. This focused approach has driven us to an exceptional growth rate of over 30% for two consecutive quarters and has led to an EBITDA run rate improvement exceeding
Overall, 2023 has been a remarkable year for 24SevenOffice, marked by a strong growth trajectory and significant milestones in profitability. For the full financial year, we achieved a strong year-over-year growth rate of more than 27%, reaching MSEK 327 in revenues for 2023, a MSEK 69 increase from last year. EBITDA ended negative at MSEK 40.
Focusing on the fourth quarter, we witnessed both an exceptional +30% growth rate and a more than 90% improvement in EBITDA profitability compared to the same quarter last year. During the fourth quarter the company had MSEK 91,6 in revenues, up 31% from last year, with a negative EBITDA of MSEK 3. This underscores the effectiveness of our growth investment strategies and the scalability of our business model.
Although the full quarter's EBITDA is slightly negative, we are confident the company will be EBITDA profitable going forward as we reached a positive run rate in the business by year end as guided. This milestone is not just a reflection of the extraordinary performance from our organization this year but is also a clear signal of further improvement in the profitability through 2024.
Reflecting on the year 2023, it's evident that the successful investments we've made in our product and technology platform now yield significant results. The comprehensive overhaul of 24SevenOffice's backend system, the enhanced and automated user experience and design, and the launch of a REST-based integration platform are enabling both the advanced ecosystem of products for our larger clients, but also is key to amplifying the new strong revenue growth streams such as AI, stand alone payroll, MRP and payment & debt collection modules.This ecosystem forms a solid basis for further profitable growth.
With the launches of the upgraded voucher flow, accounting, invoicing, and pay-roll modules, the strategic partnership with Debet and the recent acquisition of INBooks Flow & Go, 24SevenOffice now has obtained a truly unique position in the market. 24SevenOffice is the only independent Nordic software where smaller SMEs can start in, but also grow significantly in terms of both revenues and complexity to international impact without changing the ERP and accounting system. This is again demonstrated by our recent preferred partnership with one of the largest accounting firms in the Nordics, Aspia.
As we move into the new year, 24SevenOffice has achieved a notable milestone with over
Looking ahead, our strategy remains clear and focused. We will continue to invest in areas that drive long-term value for our stakeholders, including further product innovation, market expansion, and strategic partnerships. I would like to extend my heartfelt thanks to our employees, customers, and partners for their continued trust and support. Together, we continue disrupting the market, changing the market landscape and empowering businesses for the future.
This disclosure contains information that
For further information please contact:
Tel: +47 247 00 030, eas@24sevenoffice.com
Brief about 24SevenOffice:
24SevenOffice's vision is to empower businesses for the future by delivering first-class business systems based on cloud technology. The business system is modular, with modules offered separately or as complete solutions. For more information, see www.24sevenoffice.com.
https://news.cision.com/24sevenoffice-scandinavia-ab/r/year-end-report-2023-with-interim-report-q4,c3936910
https://mb.cision.com/Main/16552/3936910/2633849.pdf
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