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Net Insight Interim Report January – June 2024
Investments drive increased growth and profitability
The quarter's historically high turnover of 176 MSEK and operating profit of 38 MSEK were driven by higher order values and a larger software order. Our strong brand and deep technical expertise are increasingly cited as the reason for choosing us as a partner. We have achieved an important milestone in standardizing future secure 5G networks, and we are securing more contracts with customers who wish to integrate our Zyntai product into their network expansions.
Crister Fritzson, CEO Net Insight
April – June 2024
- Net sales amounted to SEK 176.1 (126.3) million, an increase of 39.5% year-on-year. In comparable currencies net sales increased by 39.6%.
- Operating earnings amounted to SEK 38.3 (9.9) million, corresponding to an operating margin of 21.8% (7.8%). Excluding currency exchange rate differences, operating earnings amounted to SEK 36.2 (11.6) million.
- The software order of SEK 30 million, which was announced during the quarter, contributed to the higher revenue and strong results. Excluding the software order, growth was 15.5% and the operating profit improved compared to the same period last year.
- Net income for the period amounted to SEK 30.4 (10.9) million, corresponding to a net margin of 17.3% (8.6%).
- Earnings per share diluted was SEK 0.09 (0.03).
- Total cash-flow was SEK -16.1 (-12.4) million. Cash-flow, excluding share-related transactions, was SEK -11.0 (-8.0) million.
January – June 2024
- Net sales amounted to SEK 318.6.5 (252.9) million, an increase of 26.0% year-on-year. In comparable currencies net sales increased by 25.5%.
- Operating earnings amounted to SEK 48.9 (21.9) million, corresponding to an operating margin of 15.4% (8.7%). Excluding currency exchange rate differences, operating earnings amounted to SEK 52.0 (24.3) million.
- Net income for the period amounted to SEK 44.6 (21.3) million, corresponding to a net margin of 14.0% (8.4%).
- Earnings per share diluted was SEK 0.13 (0.06).
- Total cash-flow was SEK -31.2 (-42.2) million. Cash-flow, excluding share-related transactions, was SEK -17.9 (-29.4) million.
Q2 in brief
- 15th consecutive quarter of growth, up by 39.5%
- Operating margins for the quarter reached 21.8%
- Historic software deal 30 MSEK with major US customer
- Time synchronization increased our presence in new regions
For the complete interim report, please refer to the attached PDF.
A webcast for media and the financial community will take place at 9:30 am CEST on July 18, 2024
CEO Crister Fritzson and Interim CFO Annika Muskantor will present and comment on the interim report: https://ir.financialhearings.com/net-insight-q2-report-2024/register
For further information, please contact:
Crister Fritzson, CEO of Net Insight AB, +46 8 685 04 00, 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
Follow us: LinkedIn: linkedin.com/company/net-insight X: x.com/NetInsight
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