INTERIM REPORT Q3 2024

14 Nov 2024 08:00 CET

The Interim report for Q3 2024 for Induct AS has been approved by the Board of
Directors.

→ Total revenues decreased by NOK 1.1 million, from NOK 6.3 million in Q3 2023
to NOK 5,2 million in Q3 2024. The reduction is mainly due to a decrease in
platform revenues caused by the loss of subscription customers in Bidra, Induct
and in Spain.

→ Gross margin on platform revenues is stable and very good, with an increase of
0.3% from 94,5 % in Q3 2023 to 94,8% in Q3 2024.

→ EBITDA decreased by NOK 1.7 million, from NOK 2,4 million in Q3 2023 to NOK
0,7 million in Q3 2024. YTD EBITDA increased by NOK 1.0 million, from NOK 5.9 in
Q3 2023 to NOK 6.9 million in Q3 2024.

The decrease in Q3 EBITDA is caused by two short-term and temporary situations.
The cost associated with the organizational streamlining carried out in the
first half of the year impacts our results in the second half of the year, and
furthermore, the subsidiary Bidra AS had a significant loss of revenue from
customers in the banking sector whilst costs grew notably. The cost increase is
largely related to an unfortunate dispute that ended in a court case.

→ Bidra AS is without profitable products and will consequently be dissolved, as
announced on Brønnøysundregistrene 28 October 2024.

→ Tilskuddsportalen is entering the Swedish market.

→ Partnership with Portsmouth University Hospitals NHS Trust and pharmaceutical
company expected to be signed in Q4.

More information:
Access the news on Oslo Bors NewsWeb site

632158_Induct - Interim Report Q3 2024.pdf