MakoLab reports positive results for Q1 10% growth in revenue, year on year

The MakoLab Q1 2023 report announces good news regarding revenue growth, a positive EBIDTA result and a net profit.

Sales of PLN 19,732,000 show a year-on-year increase of 10%, with the export of services having a pivotal impact on the result, revealing a growth of 15% in comparison with Q1 2022 and representing 84% of the sales. The company’s operating costs rose by 15%. This is primarily a result of the rising costs of remuneration, including the pay rises applied across 2022. New staff were employed in 2022 in response to growing project requirements which have also had an impact on Q1 this year. Ultimately, the EBIDTA result for the period was PLN 2,238,000, with a net profit of PLN 1,611,000.

The management board is watching the current market situation and verifying the company’s plans on an ongoing basis.

MakoLab is working proactively to find new projects and is currently engaged in a number of sales processes which should be decided by the middle of the year.

MakoLab has certainly not relinquished work on new solutions. One outcome of this is a prototype of a ready-to-use system for verifying vehicle damages resulting from road traffic accidents and detecting fraud relating to the claims. The solution, which uses machine learning tools, was created in collaboration with an insurance company that is interested in deploying the production version. This is by no means the only new solution developed by MakoLab which will be of interest to organisations operating in the mobility sector.

The report summarising Q1 2023, together with a detailed commentary on the results, is available at LINK. (Polish only).