Smartoptics Group AS (SMOP) – Q3 2024 financial results
Oslo, 23 October 2024 – Smartoptics Group AS (Smartoptics, OSE: SMOP) today reported revenues of USD 13.0 million in the third quarter of 2024. This is unchanged compared to the second quarter 2024 and a decline of 4.5 percent from the third quarter 2023. EBITDA was USD 1.1 million (2.7 million in the third quarter 2023). The gross margin was sequentially stable at 47.4% in the third quarter (50.0%), and the EBITDA margin was 8.3% (19.8%), a sequential improvement from 7.8%.While the result reflects continued softness in the market it is also a demonstration of a sequential stabilization.