Digital Workforce Services (DWF) Q3 2024 earnings summary

Executive summary

• Achieved 10% revenue growth in Q3 2024, with strong performance in Continuous Services, which grew 16% year-over-year.

• Profitability improved significantly, with EBITDA turning positive and EPS rising to EUR 0.02 in Q3.

• Healthcare sector projects and long-term client relationships were key drivers of growth.

• Management highlights successful execution of growth strategy despite a weak and uncertain market environment.

Financial highlights

• Q3 2024 revenue: EUR 6.6 million (+10% YoY); 9M 2024 revenue: EUR 20.2 million (+9% YoY).

• Q3 EBITDA: EUR 0.2 million (vs. -0.1 million YoY); 9M EBITDA: EUR 0.7 million (vs. 0.1 million YoY).

• Q3 operating profit: EUR 0.1 million (vs. -0.1 million YoY); 9M operating profit: EUR 0.4 million (vs. -0.1 million YoY).

• Q3 EPS: EUR 0.02 (vs. 0.00 YoY); 9M EPS: EUR 0.05 (vs. 0.01 YoY).

• Cash and liquid assets at period end: EUR 11.6 million.

Outlook and guidance

• Full-year 2024 revenue expected to exceed 2023; adjusted EBITDA projected to be positive and improve over 2023.