Q3’20 EBIT of SEK -4m, +27.3% vs. ABGSCe
Litium reported Q3’20 ARR of SEK 49m, -1.2% vs. ABGSCe, growing 28.2% y-o-y, which is in line with Litium’s financial target of 20-40%. Net sales were SEK 12m, -4.7% vs. ABGSCe, of which 98.4% of net sales were recurring. Operational costs were SEK 15m, 9.4% below our estimate of SEK 17m, growing approximately 2% y-o-y, which marks a further slowdown in opex growth. Combining the strong ARR growth of ~28% vs. the opex growth of ~2% highlights the scalability of Litium’s business model, and takes the company one step closer to profitability. Reported EBIT was SEK -4m, +27.3% vs. ABGSCe, for a margin of -29.7%.
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