Audientes A/S: Q4/Year-end 2024 Financial Report
Company announcement no. 02-2025
February 26, 2025
Audientes A/S ("Audientes" or the "Company"), CVR 36047631, announces its unaudited financial results for Q4 and Year-end 2024. The Company provides updates on progress in its key markets and on product development.
Operating Highlights Q4 2024
- Market expansion in Europe: Strengthened market presence in Europe, with the appointment of Stefan Lundström as European Sales & Marketing Director to lead market expansion.
- Joint venture operational: The joint venture with Shenzhen Hengtong Partner Co. in China was registered as "ZhiYinYou Technology Limited", marking the beginning of the development of localized smart hearing solutions tailored for the Greater Chinese market.
- Licensing model progress: Audientes continues to advance the software licensing strategy with the joint venture being the first licensee partner of its software & hardware platform.
- Companion availability in Japan: The localized version of the Companion hearable product in Japan commercially available, initially via an online crowd-based marketing campaign.
- Product development progress: Chinese medical device (NMPA) approval process started with the Ven medical grade hearing aid, targeting market availability in early 2026. Progress continued on the development of a Behind-the-Ear (BTE) / Receiver-in-Canal (RIC) hearing aid.
Financial highlights for Q4 and 2024
| TDKK | Q4 2024 | Q4 2023 | 2024 | 2023 |
| Revenue | 540 | 5 | 630 | 1,266 |
| Other operating income | 426 | 215 | 1,068 | 1,395 |
| EBITDA | -1,498 | -719 | -5,428 | -7,299 |
| Profit/loss for the period | -2,659 | -2,364 | -10,912 | -13,405 |
| Cash and cash equivalents | 9 | 434 | 9 | 434 |
| Equity | 1,199 | 4,020 | 1,199 | 4,020 |
| Equity ratio (%) | 13.6% | 27.9% | 13.6% | 27.9% |
| Earnings per share (DKK) | -0.01 | -0.05 | -0.05 | -0.30 |
| No. of shares beginning of the period | 200,392,676 | 43,050,846 | 59,384,318 | 28,747,024 |
| No. of shares end of period | 399,411,640 | 59,384,322 | 399,411,640 | 59,384,318 |
| Average number of shares | 299,902,158 | 51,217,584 | 229,397,979 | 44,065,671 |
In April 2024, the nominal value per share was reduced from DKK 0.10 to DKK 0.01. At the same time, the nominal share capital was reduced by DKK 6,244,589, corresponding to 624,458,900 shares, each with a nominal value of DKK 0.01. From June 2024 to December 2024, the nominal share capital was increased by DKK 3,300,294, corresponding to 330,029,360 shares, each with a nominal value of DKK 0.01 share.
- Revenue performance below expectations: Full-year sales amounted to TDKK 840 (TDKK 1,266 in 2023) from products and services but did not meet our latest guidance for revenue of DKK 1.5-2.5 million. However, Q4 2024 sales revenue reached total TDKK 750 (TDKK 5 in Q4 2023), consisting of TDKK 540 in product sales and other operating income from services amounted to TDKK 210.
- EBITDA within expected range: EBITDA for Q4 2024 amounted to DKK -1.5 million (TDKK -720 in Q4 2023), with full-year EBITDA improved to DKK -5.4 million (DKK -7.3 million in 2023), within the latest range guided of DKK -4.5 to -5.5 million, reflecting continued cost reductions outweighing lower revenue.
- Improved cost efficiency: Staff costs decreased by 45% year-over-year, from TDKK 5,417 in 2023 to TDKK 2,953 in 2024, reflecting cost-saving measures and organizational streamlining.
- Capitalization efforts: Secured DKK 1.3 million in a directed share issue during Q4 and converted DKK 0.4 million in debt to equity, reinforcing the balance sheet.
- Capital structure: Equity was TDKK 1,199 at year-end (TDKK 4,020 in 2023) and contributed capital amounted to TDKK 3,994. More than 50% of the share capital is lost, but the Company is confident it will be restored through funding initiatives and future profits.
- Financing & capitalization strategy: Further capital injections are being pursued to support growth and operations. Work continues on securing approx. DKK 15 million (EUR 2 million) through a corporate bond issuance on the Bulgarian BEAM market, expected in March 2025.
Highlights after Q4 2024
- Expansion into MENA region: Signed a distribution agreement with Audivista (Turkey), with expected sales revenue to Audientes from this agreement to exceed DKK 4 million over the next two years as sales ramp up, strengthening Audientes' presence in the Middle East and North Africa (MENA) region.
- European ecommerce launch: Preparing for regional Amazon launch across key markets in Europe as part of the company's expanded online sales strategy, while also targeting pharmacies, opticians, and other ecommerce platforms.
- Japan market development: Continued commercialization of Companion hearable in Japan, with upcoming e-commerce distribution via TD SYNNEX across Amazon, Yahoo, and Rakuten.
Financial calendar
The Company's financial calendar is unchanged, as follows:
| Date | Event |
| April 11, 2025 | Annual Report 2024 |
| May 29, 2025 | Q1 2025 reporting |
| August 29, 2025 | Q2 / half-year 2025 reporting |
| November 21, 2025 | Q3 2025 reporting |
| February 24, 2026 | Q4 / end of year 2025 reporting |
For further information, please contact:
Steen Thygesen, CEO, Audientes A/S
Phone: +45 77 34 16 80
Email: st@audientes.com
About Audientes A/S
Audientes A/S is a Danish hearing technology company specializing in smart, self-fitting and affordable hearing aids and advanced hearables. Audientes' mission is to make high-quality hearing aids and hearables for hearing improvement or hearing enhancement accessible to everyone who needs them globally.
Audientes is listed on Spotlight Stock Market Denmark (AUDNTS) and headquartered in Copenhagen, Denmark with subsidiaries in Hyderabad, India and in Tokyo, Japan. Audientes has a 40% stake in a joint venture with Shenzhen Hengtong Partner Co. Ltd. in China.
For more information, please visit our websites www.audientes.com, www.audientes.eu, www.audientes.co.jp, www.audientes.in, or follow us on our social media channels.