ZetaDisplay AB's Q2 report shows significant growth in SaaS revenue and adjusted EBITDA improvement

From GlobeNewswire: 2024-08-30 02:40:00

ZetaDisplay AB (publ) has released their Q2 Interim Report for April – June 2024. The report shows a 24.5% increase in SaaS revenue to SEK 66.9 million, with a 28.7% rise in net sales to SEK 163.3 million. Despite a slight decrease in gross margin, adjusted EBITDA improved to SEK 27.9 million.

The strong growth in the quarter was driven by a significant increase in SaaS revenue, representing 40.9% of net sales. The adjusted EBITDA margin reached 17.1%, showcasing the effective cost management and profitability enhancements made by ZetaDisplay AB.

Despite encountering delays in some planned projects, ZetaDisplay AB continues to see positive momentum. The recent acquisition of Beyond Digital Solutions Ltd in the UK has exceeded expectations, strengthening the company’s position in Europe and contributing to group EBITDA.

ZetaDisplay AB’s growth transformation initiatives remain a high priority, with a focus on upscaling the organization to manage increased complexity. Recent acquisitions are expected to drive additional growth, alongside organic growth reflected in rising customer projects and prospects pipeline.

Looking ahead, ZetaDisplay AB remains committed to investing in activities that support long-term growth, customer satisfaction, and product market strength. The company’s strategic growth transformation plan includes upscaling key areas within the organization for continued expansion.

For more information and updates, ZetaDisplay AB’s interim report for January – September 2024 will be published in November on ir.zetadisplay.com. Contact President & CEO Anders Olin at [email protected] or CFO Claes Pedersen at [email protected] for inquiries.



Read more at GlobeNewswire:: ZETADISPLAY AB (publ) INTERIM REPORT 1 APRIL – 30 JUNE 2024