Organic growth of 66%, +14pp vs. ABGSCe
ARPPU +11% vs. ABGSCe
Likely positive consensus estimate revisions
Q2'24 report
Skolon delivered a strong report, with net sales of SEK 40m (11% vs ABGSCe 36m), representing a 66% y-o-y organic growth (+14pp vs ABGSCe 52%). EBITDA amounted to SEK -2m (-1m vs ABGSCe -1m), as costs were somewhat higher than we had expected. ARPPU was SEK 160 (+11% vs ABGSCe 144) and the number of paying users amounted to SEK 778k (-5% vs ABGSCe 821k). These figures imply a meaningful beat on sales, which appears to be mostly driven by ARPPU growth (prices), which was 11% above our expectations, whereas number of paying users was 5% below our expectations.