beaconsmind Group announces FY2023 annual results confirming breakeven achieved in 2H 2023, reaffirming positive EBITDA guidance for 2024

beaconsmind Group announces FY2023 annual results confirming breakeven achieved in 2H 2023, reaffirming positive EBITDA guidance for 2024

• FY 2023 revenues amounted CHF 6.1MM, up 294% compared to FY 2022, EBITDA of CHF -0.5MM vs. FY 2022 EBITDA of -4.6MM
• 2H 2023 revenue amounted to CHF 3.5MM, up by 31% as compared to 1H 2023 with 2H 2023 EBITDA breakeven of CHF 5K
• 1H 2024 results expect to be announced in September 2024 and management team reaffirming previous guidance of CHF 12.9MM revenue and CHF 2.5MM EBITDA for FY2024
• Strong balance sheet with CHF 8.0MM equity and CHF 0.8MM cash and confirmed cash breakeven and positive free cash flow going forward

Zurich, Switzerland – 28 June 2024 – beaconsmind Group (ISIN: CH0451123589 – Ticker: MLBMD), a leading SaaS provider in the field of location-based marketing (LBM) & analytics, has issued the full year 2023 figures. The company’s full year results were still negatively by the high one-off costs stemming from M&A-related and restructuring costs inflicted by reorganization measures introduced by management. For the first time financials of FREDERIX Hotspot GmbH (“FREDERIX”) and Socialwave GmbH were fully reflected. Financials of KADSOFT and T2 Vertrieb were not reflected due to the closing at the end of December 2023 and will be fully consolidated going forward in 2024.

beaconsmind Group has prepared consolidated IFRS financial statements and reports its key financial figures in Swiss francs. For the second half year of 2023, beaconsmind Group posted revenues of CHF 3.5MM vs. CHF 2.7MM in 1H 2023 and previous 2H 2022 of CHF 0.6MM. Adjusted Earnings before interest, taxes, depreciation, and amortisation (EBITDA) amounted CHF 5K vs. previous 2H 2022 of CHF -3.2MM, confirming achieved breakeven in the second half of last year. FY2023 revenue and EBITDA amounted to CHF 6.1MM and CHF -0.5MM respectively for the entire fiscal year 2023. The Gross Profit margin remained stable at 85.3 percent (prior second half year 2022: 82.8 percent).

As part of the FY 2023 financials beaconsmind Group released a strong 2023 balance sheet with CHF 8.0MM equity and confirmed CHF 0.8MM cash. beaconsmind Group is on track to reach positive net income, EBITDA and free cash flow in 1H 2024 and results are expected to be announced in September 2024, confirming previously guided run-rate revenues of CHF 12.9MM and EBITDA of CHF 2.5MM on a Group level for FY 2024. Moving forward, beaconsmind Group plans to further explore accretive acquisition opportunities, as well as delve deeper into the value chain and focus on multiple layers of growth including organic growth through its nascent businesses and harvesting cross selling the entire product offering across all existing customers, further internationalization and accretive acquisitions.

The company has announced several major new and existing upselling clients wins over the last 6 months including an instrumental regional expansion into Spain and UAE with first results of further accelerated growth reflected in FY 2024 financials.
 

The FY 2023 report is available for download on beaconsmind's website (www.beaconsmind.com) in the "Investor Relations" section. The Swiss audit report will be released by end of July 2024.

KEY FINANCIALS SUMMARY

*Adj. EBITDA includes adjustments for non-recurring expenses and restructuring costs.

About beaconsmind Group

Founded in Switzerland in 2015, beaconsmind Group is at the forefront of location-based marketing (LBM) software, WiFi infrastructure systems, and WiFi Guest Hotspots, catering to sectors such as retail chains, hospitality, healthcare, and the public sector. The subsidiaries under the beaconsmind Group umbrella are recognized for their expertise in digital transformation, Location-Based Marketing, infrastructure, and Wi-Fi services for SaaS clients. Through intelligent, entirely cloud-based technologies, we deliver tangible added value to our clients, empowering their omnichannel strategies with enhanced success.

For more information, please visit http://www.beaconsmind.com