Highlights from Q1 2024:
Positive EBITA adj. for the sixth consecutive quarter
- Net gross profit impacted by lower device volumes, margin up from 32% to 34% y/y due to positive momentum in high margin revenues
- Continually delivering on the cost optimisation plan
Weak commercial quarter, impacted by early Easter-effect
- Flat development in recurring revenue annualised y/y, decline in device sales partly offset by growth in
Own Software and Advisory & Services - Strong uptake in March on device orders, but majority of the shipment slipped into April
Refocused commercial strategy, increasing focus on partner sales
- Launched a new Go-to-Market strategy and deployed a revised indirect business model for partner ready and highly scalable solutions
- Signed transformative strategic partnership agreement with devicenow
Subsequent events
- Expanding rugged device and services business through strategic partnership with Consafe Logistics
-
Recently signed agreement with a Nordic mobile operator covering
Own Software and managed services
"The profitability keeps moving in the right direction, and for the sixth consecutive quarter we delivered a positive EBITA adjusted. Our net gross profit margin improved from 32% to 34% year over year, and despite Q1 being impacted by the decline in device sales, we are already observing a strong uptick compared to previous months. Additionally, signing several new partner agreements in recent months, we see a substantial potential through our indirect business model and anticipate accelerated growth, particularly in the second half of this year.
I have strong belief in mobile tech being a cornerstone of the digital transformation and acceleration we see around us every day, with improved connectivity, AI powered endpoints, Generation Z expectations to mobility and flexibility, the need to increase productivity and how mobile applications foster new business models, and I see
Material
Please find the report and presentation for Q1 2024 enclosed.
Presentation and Q&A:
A live presentation and Q&A session will take place today at
The registration link is also available under the investor section on
Questions for the Q&A session may be submitted in advance to ir@techstep.no, or live during the session itself. A recording of the Q&A session will be made available on www.techstep.io after the session has concluded.
For more information:
About
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