Record quarter concludes 2023
The fourth quarter was the strongest in the company's history. Revenue in the fourth quarter amounted to SEK 162.5 million, which is an increase of 30.0% compared to the same period the previous year (currency-adjusted 27.2%). Revenue for the full year 2023 amounted to SEK 559.4 million, an increase of 17.7% year-on-year, surpassing our long-term goal of average growth above 15%.
The long-term trend of improved growth and profitability is a result of many strategic initiatives, where two important components are a stronger product portfolio and expanded expertise, focusing on the growth areas of IP and cloud. Key advancements within time synchronization included product launch, a new framework agreement with Teracom, and the initiation of standardization for our synchronization technology. We are proud to announce the commercial launch of our new time synchronization solution, Zyntai. The orderbook increased from SEK 180 million to SEK 195 million in the quarter.
Crister Fritzson, CEO Net Insight
October - December 2023
- Net sales amounted to SEK 162.5 (125.0) million, an increase of 30.0% year-on-year. In comparable currencies net sales increased by 27.2%.
- Operating earnings amounted to SEK 29.4 (13.2) million, corresponding to an operating margin of 18.1% (10.6%). Excluding foreign exchange rate differences of SEK -0.1 (-2.7) million, operating earnings were SEK 29.5 (15.9) million.
- Net income for the period was SEK 22.6 (9.9) million.
- Earnings per share diluted was SEK 0.06 (0.03).
- Total cash was SEK 4.2 (14.0) million. Excluding the cash impact from share-related transactions, the cash flow was SEK 17.5 (37.5) million.
January - December 2023
- Net sales amounted to SEK 559.4 (475.1) million, an increase of 17.7% year-on-year. In comparable currencies net sales increased by 12.4%.
- Operating earnings amounted to SEK 70.9 (60.5) million, corresponding to an operating margin of 12.7% (12.7%). Excluding foreign exchange rate differences of SEK -5.0 (-1.9) million, operating earnings were SEK 75.9 (62.4) million.
- Net income for the period was SEK 60.1 (54.0) million.
- Earnings per share diluted was SEK 0.17 (0.15).
- Total cash was SEK -41.7 (-47.0) million. Excluding the cash impact from share-related transactions, the cash flow was SEK 0.9 (51.3) million.
Q4 in brief
- Strongest quarter in the company's history concludes a record year
- Product launches throughout the year resulting in strong growth
- Framework agreement signed with Teracom for time synchronization of critical mobile networks
- Expanded collaboration with a major American operator in time synchronization
For the complete Year-end report, please refer to the attached PDF.
A webcast for media and the financial community will take place at 9:30 am CET on February 16, 2024
CEO Crister Fritzson and CFO Joakim Schedvins will present and comment on the Year-end report: https://ir.financialhearings.com/net-insight-q4-report-2023/register
For further information, please contact:
Crister Fritzson, CEO of Net Insight AB, +46733357001, crister.fritzson@netinsight.net
About Net Insight
Net Insight (Nasdaq: NETI B) provides the highest performing, most open video transport and media cloud technology for content providers as the industry standard for flexibility and service across live contribution, distribution and remote production media workflows.
For over 25 years, the world's leading content owners, broadcasters, production companies, service providers and enterprises have trusted Net Insight's Emmy® Award winning Nimbra technology to guarantee media delivery. Today, Net Insight partners with hundreds of customers in over 70 countries to ensure media flows across managed and unmanaged IP networks, and the cloud - from anywhere, to everywhere. It enables customers to get the best from any mix of virtualized, cloud and IP technology and is the only platform to support all the major industry standards, protocols and clouds.
For more information, please visit netinsight.net
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This information is information that Net Insight is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-02-16 07:30 CET.
