In the third quarter of 2024 Acconeer's net sales amounted to kSEK 14,604 and the gross margin was 61%. A record number of radar sensors were sold in the quarter, 400,000. A total of 10 new customer products were launched.
CEO Ted Hansson comments: "The turnover for Q3 2024 increased 74% compared to the same period in 2023. This means that after three quarters of 2024 we have reached higher turnover than for the full year of 2023. We see strong revenue contributions from Automotive, but also from Tank level measurement applications, which is a market we believe will continue to be strong going forward."
THIRD QUARTER
- Net sales for the third quarter amounted to kSEK 14,604 (8,379).
- The gross margin on sales of goods was 61 (67) %.
- Result after taxes amounted to kSEK-4,316 (-9,590).
- Earnings per share before and after dilution was SEK -0.07 (-0.36).
- The cash flow from operating activities was kSEK-3,896 (-6,895).
JANUARY-SEPTEMBER
- Net sales for the nine months amounted to kSEK 41,040 (24,910).
- The gross margin on sales of goods was 60 (62) %.
- Result after taxes amounted to kSEK -23,487 (-35,215).
- Earnings per share before and after dilution was SEK -0.47 (-1.33).
- The cash flow from operating activities was kSEK -22,394 (-27,430).
- Cash and cash equivalents on the balance sheet date amounted to kSEK 73,337 (42,431).
SIGNIFICANT EVENTS DURING THE THIRD QUARTER
- Acconeer received order from Restar worth USD 166,000.
- Acconeer received order from BEYD worth USD 183,000.
SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD
- No significant events after the end of the period.
The report is attached to this press release and available through Acconeer's website: https://www.acconeer.com/investor_page/home/financial-reports/.
For additional information, please contact:
Ted Hansson, CEO Acconeer, Phone: +46 10218 92 00, E-mail: ir@acconeer.com
This information is information that Acconeer 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 2024-10-25 07:30 CEST.
About Acconeer AB
With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.
