LightOn: 2024 sales disappoint, share price falls

(CercleFinance.com) - Launched last November, LightOn disappointed investors on Monday by reporting a level of activity for 2024 below the targets it had communicated at the time of its IPO.


The specialist in generative AI for businesses said it generated annual recurring revenues (ARR) of 1.2 million euros last year, below the level that had been anticipated.

At the time of its IPO, LightOn had set itself the target of doubling its ARR by July 31, 2024, to 0.9 million euros, taking it to 1.8 million for the full year.

The company reports that it went from four to eight corporate customers between the end of July and the end of December 2024, whereas it had initially hoped to have around ten customers by the end of the financial year.

Forge, its software commercialized since 2022 that enables customers to develop their own language model, achieved sales of around 0.5 million euros.

Paradigm, a turnkey generative AI platform marketed since last year, designed to meet all the needs of enterprises and the public sector, posted annual sales of 0.6 million euros.

With regard to 2025, LightOn explains that the pace of production start-ups is set to accelerate, supported by the growing adoption of generative AI by businesses and organizations.

The company confirms its target of six million euros in ARR for this year, but does not mention the goal of positive Ebitda and free cash flow in 2026.

In its press release, LightOn also makes no mention of its sales target of around 40 million euros for 2027, with an ARR of around 35 million.

On the Paris Bourse, the share price lost 6% following this publication, which maintained the uncertainty surrounding its forecasts, but the share is still up more than 70% since it was first listed just over two months ago.

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