Technology company Checkin.com, which released preliminary figures for the third quarter, has now released a full report. The company sees a challenging fourth quarter but reiterates the long-term target for next year.

Sales fell 37.8 percent to SEK 18.6 million (29.9). Organic sales growth was -38 percent (76).

Net Revenue Retention LTM amounted to 58 percent (173).

Gross profit amounted to SEK 13.6 million (25.1), with a gross margin of 73.1 percent (83.9).

The Ebitda result was SEK 4.3 million (10.9), with an Ebitda margin of 23.1 percent (36.5).

Operating profit amounted to SEK -3.8 million (4.7) and profit after tax was SEK -3.8 million (4.6). Earnings per share amounted to SEK -0.13 (0.15).

Cash flow from operating activities amounted to SEK 2.0 million (7.7). Cash and cash equivalents amounted to SEK 30.2 million (31.9).

"Overall, we have high ambitions for Checkin.com. Although we see a challenging fourth quarter and that the financial ambition for 2024 will not be reached, our long-term goal for the full year 2025 and beyond remains unchanged", says acting CEO Christian Karlsson in the report.

"We recognize that the year-to-date performance has not met our own or shareholders' expectations, but we also see great opportunities ahead with many promising discussions across all our customer verticals. We are working hard to regain our position as a growth company and look forward with confidence to a very exciting 2025."

Checkin.com, SEKmQ3-2024 Q3-2023 Change in net sales
Net sales 18,6 29,9 -37,8%
Organic sales growth, percent-38 76
Gross profit 13,6 25,1 -45,8%
Gross margin 73,1% 83,9%
Ebitda 4,3 10,9 -60,6%
Ebitda margin 23,1% 36,5%
Operating profit/loss-3,8 4,7
Operating margin 15,7%
Net result-3,8 4,6
Earnings per share, SEK-0,13 0,15
Cash flow from operating activities 2,0 7,7 -74,0%
Cash and cash equivalents 30,2 31,9 -5,3%