Litium is a software company that develops and sells a cloud-based platform for digital commerce. The company is a SaaS company with a subscription-based business model. Litium's target group is medium-sized and large corporate customers who use the company's services in their digital channels. Litium mainly directs its offering to companies established in the Nordic region. The company is headquartered in Stockholm.
Minor estimate changes Record-level client intake & variable intake growth EV/ARR 2x, '25e EV/EBITDA ~8x Q1 slightly below expectations The Q1 report came in just short of our expectations. We note that ARR growth was marginally lower than expected, ...
Sales in line with ABGSCe, ARR slightly below Limited, downward consensus estimate revisions Highlights record-high client intake Q1'25 report Litium reported an ARR of SEK 73.3m (-2% vs. ABGSCe 74.5m), net sales of SEK 18.9m (+/-0% vs. ABGSCe 18.9m)...
We trim '25e-'27e ARR by 1-3% on continued macro weakness Volume-based revenue growth could pick up in H2'25e EV/ARR ~2x, '25e EV/EBITDA ~8x What to look for in Q1'25e For Q1, we expect reported ARR of ~SEK 74m and sales of SEK 19m. These figures imply...
Minor estimate changes Potential start of variable revenue acceleration EV/ARR 2x, '25e EV/EBITDA ~8x Q4 in line The Q4 report was in line with our estimates and quite uneventful again. ARR continues to grow sequentially, but more importantly, it appears...
Sales slightly above ABGSCe, ARR in line Limited consensus estimate revisions are likely Variable revenue on the rise Q4'24 report Litium reported an ARR of SEK 72.3m (+/-0% vs. ABGSCe ~72m), net sales of SEK 19.5m (+3% vs. ABGSCe 19m) and EBITDA of ...
We trim '25e-'26e ARR by 1% on continued macro weakness Still awaiting a return in B2C business momentum EV/ARR ~2x, '25e EV/EBITDA ~8x What to look for in Q4'24e For Q4, we expect reported ARR of SEK 72m and sales of SEK 19m. These figures imply y-o...
- Minor estimate changes - Solid profitability ahead as growth conditions stall - EV/ARR 1.8x, '25e EV/EBITDA ~7x Strong margins in Q3 The Q3 report was in line with our estimates and relatively uneventful overall. ARR continues to grow sequentially,...
Sales and ARR in line with ABGSCe Limited consensus estimate revisions are likely Strong margin due to solid cost control Q3'24 report Litium reported an ARR of SEK 71.4m (+1% vs. ABGSCe 71.0m), net sales of SEK 16.7m (-2% vs. ABGSCe 17.0m) and EBITDA...
We trim '24e-'26e ARR by 1% on continued macro weakness Still awaiting a return in B2C business momentum EV/ARR ~2x, '24e EV/EBITDA ~9x What to look for in Q3'24e For Q3 we expect a reported ARR of SEK 71m and sales of SEK 17m. These figures imply y-...
- Marginal estimate changes - Awaiting B2C and B2B volume recovery for growth upside - EV/ARR ~2.4x, '24e EV/EBITDA ~12x Unsurprising Q2 with stable growth The Q2 report was in line with our estimates and was relatively unsurprising. ARR continues to...
- Sales and EBITDA in line with ABGSCe - Simplicity and predictability likely to drive limited cons. revisions - Cost base discipline continues to drive margins Q2'24 report Litium reported an ARR of SEK 71.3m (0% vs. ABGSCe 71.1m), net sales of SEK ...
- We cut '24e-'26e ARR by 2-3% on continued macro weakness - Still awaiting a return in B2C business momentum - EV/ARR ~2.4x, '24e EV/EBITDA ~12x What to look for in Q2'24e For Q2, we expect a reported ARR of SEK 71.1m and sales of SEK 18.6m. These figures...
- '24e sales up 2% - New ARR shows sequential growth stability - '24e-'25e EV/EBITDA ~11-9x Another solid Q1 report The Q1 report beat our sales and EBITDA estimates by 10% and 13%, respectively. The new ARR definition shows that the sequential growth...
Sales +10%, EBITDA +13% vs. ABGSCe New ARR definition more comparable with peers Cost base discipline drives margins Q1'24 report Litium reported an ARR of SEK 71.1m (based on a new definition), net sales of SEK 17.7m (+10% vs. ABGSCe 16.1m) and EBITDA...
'24e-'26e ARR cut by 2-3% on continued macro weakness B2C business momentum likely to return in H2'24 EV/ARR ~2x, '24e EV/EBITDA ~11x What to look for in Q1'24e For Q1, we expect a reported ARR of SEK 73m and sales of SEK 16.1m. Both of these figures...
Minor '24e-'25e EBITDA estimate changes We deem positive EBIT in '24 to be a credible target EV/ARR 2.2x, '24e EV/EBITDA ~11x Solid Q4 report On balance, the Q4 report was in line with our estimates: ARR was ~2% below our estimate when adjusting for ...