Analyst Group: Analyst Group Comments on Irisity’s Q4 Report for 2024

The following are key events that we have chosen to highlight in the report:

• Revised Timing of Revenue Recognition and One-Off Effects Put Pressure on Financials
• Strong commercial activity in Q4-24 is expected to carry over into Q1-25
• Invoicing Grew 24% Y-Y – Collections Still Lagging
• MRR Decline Attributed to Delayed Renewal of SUP
• Q-Q Reduction in Personnel Costs
• Credit Facility (SEK 15m) and Rights Issue (SEK 21.1m) Aimed at Addressing Near-Term Liquidity
• Growth in Collections: a Key KPI to Monitor Going Forward

In conclusion, Irisity’s Q4-24 performance was marked by temporary setbacks stemming from revenue deferrals, delayed collections, and one-off provisions, which weighed heavily on reported results. However, underlying business momentum remains intact, as evidenced by invoicing growth of 24% Y-Y and new project wins exceeding SEK 10m by the end of Q4-24. Analyst Group believes that consistent operational delivery, improved working capital management, and enhanced transparency around revenue timing will be essential to regaining investor confidence. As 2025 unfolds, key KPIs to monitor are continued progress in project execution, increased collections, and sustained MRR growth, factors that will ultimately determine the Company’s financial trajectory, capital efficiency, and potential for a valuation re-rating.

Read Analyst Group’s comment on the report here

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This is a press release from Analyst Group regarding the publication of a comment on Irisity. Readers may assume that Analyst Group has received compensation for making the comment. The Company has not been given an opportunity to influence the parts where Analyst Group has had opinions about the Company, future valuation or anything else that could be considered a subjective assessment.