MakoLab records a profit for the first half of the year
MakoLab sustained positive profitability indicators in Q2 and cumulatively for 2024 despite lower revenues. In the first half of the year, it achieved revenues of 35.6 mln PLN, an EBITDA of 2.9 mln PLN and a net profit of 1.9 mln PLN. During this period, the company commercially implemented its first project using large language models (LLMs).
In its report published for the second quarter of 2024, MakoLab noted sales of 18.4 mln PLN, giving a cumulative total of 35.6 mln PLN for the first half of the year. This marks an 8% decrease in revenues compared to the same period in 2023. The export of services still dominates the revenue structure, accounting for 74% of the revenues earned since the beginning of the year. As in the previous quarter, the company achieved lower sales in the field of solutions for connected vehicles, while revenues from projects in the car sales and financing segment and data centre services increased.
Cumulatively, MakoLab has achieved a 2.6 mln PLN profit on sales, a 2.9 mln PLN EBITDA and a 1.9 mln PLN net profit since the beginning of the year. The first two indicators are lower than in 2023, with net profit 6% higher on account of a positive result for financial activities.
The report also contained the company’s announcement of the commercial implementation of a dedicated assistant using large language models for one of its clients. The project is an element of the plan to include advanced services using artificial intelligence methods and tools in the MakoLab offering.
Link to the report for the second quarter on makolab.com: https://makolab.com/investor-relations/komunikaty/mako-lab-raport-kwartalny-za-ii-kwartal-2024
Translated from the Polish by Caryl Swift
Martin Kanaan
Head of Marketing and Business Development
