Q3 2024 Qliro AB Earnings Call Transcript

Nov 15, 2024 / 09:00 AM GMT

Release Date Price: €2.13 (+3.32%)

Transcript

Key Points

Positve

Qliro AB (OSTO:QLIRO) reported a significant strategic shift towards focusing on its payments business, with over 35% growth in payment volumes expected.
The company successfully raised over 100 million in capital during the quarter to fuel growth and expansion efforts.
Qliro AB has seen a strong increase in merchant onboarding, with more than 200 merchants now live on the platform, representing a 175% growth compared to the previous year.
The launch of new products, including Checkout 0.0 and Loyalty Driver, has set new standards for conversion and improved consumer experience.
Geographical expansion is underway, with new offices in Norway and plans to launch in Finland, aiming to capture a larger market share in the Nordics.

Negative

Qliro AB's adjusted operating profit decreased to minus 12 million due to increased focus on growth and geographic expansion.
Credit losses increased to 27 million, attributed to changes in product mix and temporary issues in the dunning chain.
The company's pay later volume decreased by 14%, driven by continued lower invoice volumes.
There is a mismatch between lending rates and funding rates, with a lag expected before convergence, impacting financial performance.
Increased investments in sales and marketing have led to higher operating expenses, impacting short-term profitability.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

QLIRO.ST - Qliro AB
Q3 2024 Qliro AB Earnings Call
Nov 15, 2024 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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Thank you and welcome to our Q3 presentation. I'm Christopher Kishon and with me today, I have also our new CFO the and we'll run through the presentation for today. So the Yana is first, I will give you a strategic appetite update and some highlights for the quarter and talk through the business model, then a financial update, talk a bit about the outlook and then open up for questions.

So jumping into the strategic update. So first of all, we are making a strategic shift to double down our payments business with new growth investments. We brought in more than 100 million in capital during the quarter and are now focusing on accelerating the business. Secondly, and we already announced an accelerated growth, momentum in our payments volume with

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