Year-end report

The .Group October – December 2023 (KSEK)

• Net sales 9 590 (4 534) +112%
• Operating result -4 169 (-15 606)
• Result for the period before tax -5 624 (-14 990)
• Earnings per share before and after dilution -0.34* (-1.22)

The Group January – December 2023 (KSEK)

• Net sales 28 270 (13 260) +113%
• Operating result -31 471 (-57 706)
• Result for the period before tax -32 224 (-55 942)
• Earnings per share before and after dilution -2.50* (-4.56)

* Earnings per share after tax, calculated on the result for the period and number of shares,12 624 171


Summary of the fourth quarter

• Net sales for the fourth quarter increased by 112% compared to the same period last year. Combined with an increase in number of users of 102%, we continue to see a strong commercial momentum in our markets. Net sales was positively impacted by additional service fees from customers of 2.1 MSEK in the quarter.
• The operating result improved by circa 11 MSEK vs Q4–2022, and circa 0.5 MSEK vs Q3–2023, showing the progress of our strategic cost reduction activities whilst still growing revenue and the customer base. The operating result was negatively impacted by seasonal vacation effects in personnel costs.
• Q4–2023 saw cash flow generation roughly in line with operating result, which is in line with our expectations.

CEO Words

New ESG demands intensify positive outlook

As well as Q4 being our ninth consecutive quarter of growth, net sales for the fourth quarter of 2023 increased by 112% compared to the same period last year. With a gross margin at 82%, up from 80% last quarter, I look back at 2023 and what the team has accomplished with pleasure.

We have had a nice growth during 2023, enhanced by an increased focus on Environmental, Social & Governance (ESG) actions. Sustainability is no longer a “nice-to-have” and our AI plays a vital role in helping to solve the problem. New regulations, including CSRD, are aimed at making ESG reporting more transparent, with measurable targets and actions required. The result is rapidly growing demand for data that facilitates traceability and the setting of scientific KPIs, something our AI already achieves.

Our AI converts existing GPS data into a Climate Impact Score, specifically for CO2 emissions and EV battery consumption, and a Crash Probability Score, indicating a driver’s probability to be involved in a car crash. This puts us in a unique position to help organizations quantify their total mobility impact on the planet, act to mitigate risk, and obtain the data needed to fulfil the mobility element of ESG reporting in line with GHG protocol.

The fact that our data analytics is endorsed by the Swedish Energy Agency, supported by the EU, and awarded by the WWF

Climate Solver for our potential to influence global CO2 savings using the GHG protocol serves to amplify trust in our solutions. As does the fact that, in October, we were included in the ESGFinTech100 for 2023 as a tech pioneer supporting financial institutions in achieving ESG goals.

Our technology received its biggest accolade in December when we were invited to showcase our AI at COP28, together with our partner, the Federation Internationale de l’Automobile (FIA).

It was a real privilege to join a discussion on the main stage and our stand in the Blue Zone, hearing delegate feedback that our AI is a very tangible solution for reducing transport CO2 emissions.

On that note, I’m proud to share that this year marks 20 years since our AI was born, and we will soon commence marketing activity to highlight this anniversary. Since 2004, we’ve been training our AI with data from 106 countries and 1600 cities. This enables us to understand driver impact on safety and climate, like no one else.

As more companies embrace AI for increased efficiency, cost savings, ESG management and reporting, enhanced customer experience, and real-time analytics, our experience places us firmly at the forefront of mobility data analytics.

In 2024, we will continue to support companies around the world as they turn to AI to achieve business success today and contribute to global efforts for a more sustainable future.

Liselott Johansson,

CEO, Greater Than

 

This disclosure contains information that Greater Than is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 22-02-2024 09:11 CET.
 

Press contact, Greater Than:
PR@greaterthan.eu
+46 855 593 200
www.greaterthan.eu
 

About Greater Than

Greater Than is a driving data analytics company that specializes in understanding driver impact on the roads. Through the power of artificial intelligence (AI), Greater Than converts GPS data into driver scores that predict crash probability and climate impact. The scores can be further enhanced with additional intelligence including an analytics dashboard, prevention tool, and summary reports. 
 
Insurance companies, underwriters, fleet solution providers, mobility providers and other owners of GPS data use Greater Than’s analysis to optimize driver risk management, achieve insurance profitability, manage sustainability & ESG reporting, and monetize GPS data. Greater Than (GREAT.ST) is listed on Nasdaq First North Growth Market. FNCA Sweden AB is the Company’s Certified Adviser. Learn more at www.greaterthan.eu. 
 

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