Techstep ASA (OSL:TECH)

kr 12.65 +0.40 (+3.27%) Market Cap: 435.25 Mil Enterprise Value: 598.65 Mil PE Ratio: 0 PB Ratio: 0.78 GF Score: 44/100

Q3 2024 Techstep ASA Earnings Call Transcript

Nov 15, 2024 / 07:00 AM GMT

Release Date Price: kr12.4 (-0.80%)

Transcript

Key Points

Positve

Techstep ASA (OSL:TECH) reported growth in both revenue and net gross profit for the first time in over two years.
Recurring revenue annualized increased by 6% year over year, with the company's own software showing a 12% growth in recurring revenue.
The company achieved a positive EBITA adjusted for the eighth consecutive quarter, with an 11% improvement year over year.
Techstep ASA secured a new exclusive agreement with Tradebroker, leading to new customer signings and onboarding.
Strong commercial momentum was observed across solution portfolios and defined markets, with several new signings and renewed contracts.

Negative

Net loss for the period was NOK6 million, primarily due to non-cash amortization of intangible assets.
Recognized revenues in Norway decreased by 7% year over year, driven by a decline in revenues from device sales.
The gross margin on device sales decreased due to changes in customer mix and increased device volume.
Operating costs saw a slight increase, including personnel costs, despite ongoing cost optimization efforts.
The company anticipates some cost increases due to inflation, salary hikes, and investments in back-office systems and IT architecture.

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

TECH.OL - Techstep ASA
Q3 2024 Techstep ASA Earnings Call
Nov 15, 2024 / 07:00AM GMT

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Conference Call Participants
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* Morten Meier
Techstep ASA - Chief Executive Officer
* Ellen Solum
Techstep ASA - Chief Financial Officer

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Presentation
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Morten Meier, Techstep ASA - Chief Executive Officer [1]
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Good morning, everyone, and welcome to our Q3 presentation followed by a Q&A session. We are already well into the fourth quarter, and we are happy to share the last quarter results with you and how we are positively progressing across markets, revenue streams and with key strategic projects.

At the end of the presentation, we will open up for questions, and you can at any time during the presentation, post questions in the chat. For those of you who have not been

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