Teneo Q3 net sales drop after US partner loss
Teneo Q3 net sales drop after US partner loss
Overview
Sweden AI contact center firm's Q3 net sales fell 73% yr/yr after US partner loss
Company posted negative adjusted EBITDA and net loss per share for Q3
Company completed refinancing and rights issue, becoming debt free and cutting costs by half
Outlook
Company targets positive cash flow as its main financial goal going forward
Company prioritizes bringing projects into revenue and maintaining strict cost control
Teneo aims to convert Teneo10 interest into contracts and expand partner sales to smaller customers
Result Drivers
US PARTNER LOSS - Co said sharp revenue drop was due to loss of US distribution partner
COST REDUCTIONS - Co said it reduced operating expenses by about half compared to last year
RECAPITALIZATION - Co completed debt-to-equity swap and rights issue, becoming debt free
Company press release: ID:nMFN1ZRwhJ
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales |
| SEK 5.50 mln |
|
Q3 Loss Per Share |
| SEK 0.10 |
|
Q3 Adjusted EBITDA |
| -SEK 11.30 mln |
|
Q3 Gross Margin |
| 76.00% |
|
Q3 Adjusted Cash Flow |
| -SEK 31.50 mln |
|
Reuters Recommended Reads
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)