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* Earnings per share after tax, calculated on the result for the period and the average number of shares for the period January – June, 12 624 171 shares.
We continue our journey of profitable growth, with net sales of 12.2 MSEK, an increase of 123% from Q2 2023 and with an operating result of +0.1 MSEK, an increase of 10 MSEK from this time last year. Our cost saving efforts have successfully reduced operating costs by 25% from last year, down to 14 MSEK and a reduction of approximately 1 MSEK from Q1 2024. The results of these efficiency initiatives will continue to be reflected over the coming periods.
We are currently renegotiating a customer contract, to settle differences in interpreting the pricing structure and use of Greater Than’s IP rights. This is a team we have enjoyed a long-term relationship with and therefore both parties are aiming for an amicable business solution. See our financial overview pages for more details.
Our customer empowerment strategy remains central to what we do. It’s important to us that our technology is embraced for its power to “do good” and we continue to passionately support our customers to develop market-leading products based on our AI insights into driver crash probability and climate impact, not only delivering valuable business opportunities but helping to reduce drivers’ negative impact on the planet. To understand why this is so important, let’s consider that:
Approximately 1.19 million people around the world are killed each year in road crashes, and a further 20-50 million people suffer non-fatal injuries¹.
In addition to the human cost, the socio-economic cost of work-related crashes is substantial – and, for employers, there are many hidden costs of car crashes including lost working time, medical costs, legal and insurance costs and damage to reputation. In the US, crash costs typically comprise between 13-15% of a fleet’s total spending and cost companies around $54.7 billion per year².
The transport sector is responsible for approximately one quarter of greenhouse gas emissions.
Greater Than’s technology predicts which drivers are most likely to crash next and why. It also calculates a driver’s climate impact and the influence a driver has on their own emissions. This knowledge is power. And it’s the solution for companies the world over who want to play their role in contributing to safer, more sustainable roads.
Not only that, but with new global ESG reporting regulations making it a legal obligation for companies to be transparent about, act and report on their social and environmental impact, the data we can generate with our patented, world-leading AI is more valuable than ever before.
Liselott Johansson CEO, Greater Than
¹ World Health Organization
² European Commission
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 14-08-2024 11:29 CET.
Press contact, Greater Than:
PR@greaterthan.eu
+46 855 593 200
www.greaterthan.eu
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.