Beaconsmind Group Achieves Breakeven in 2H 2023 and Confirms Positive 2024 EBITDA Guidance

beaconsmind Group reported strong financial performance for FY2023, achieving a significant milestone by reaching breakeven in the second half of the year. The company's FY2023 revenues surged to CHF 6.1 million, a 294% increase compared to FY2022. EBITDA for FY2023 improved significantly to CHF -0.5 million from CHF -4.6 million in FY2022.

In the second half of 2023, beaconsmind Group saw revenues rise to CHF 3.5 million, marking a 31% increase from the first half of the year. The company recorded breakeven EBITDA of CHF 5,000 in the latter half of 2023, reinforcing its positive financial trajectory.

The management affirmed its previous guidance for FY2024, anticipating revenues of CHF 12.9 million and EBITDA of CHF 2.5 million. The company's balance sheet remains robust, with equity at CHF 8.0 million and cash reserves at CHF 0.8 million, signaling sustainable financial health and positive free cash flow projections.

As part of its strategic growth plan, beaconsmind Group is exploring accretive acquisition opportunities and enhancing its value chain through organic growth and international expansion. Key markets include Spain and the UAE, as evidenced by recent client wins and regional expansions.

The detailed FY2023 report and upcoming financial statements can be accessed on the beaconsmind website.