TomTom N.V. GAAP EPS of -€0.19, revenue of €146.19M; raises FY guidance

TomTom N.V. reported a GAAP EPS of -€0.19 for Q2, with total revenue of €146.19 million, representing a 3.9% decline year-over-year.

The Location Technology segment saw a 2% drop in revenue to €126 million, while the Automotive segment faced a 13% decrease, down to €77 million.

The company achieved a free cash flow inflow of €14 million, a significant improvement from a €5 million outflow in the previous year, and a net cash position of €267 million.

Looking forward, TomTom expects Group and Location Technology revenues to meet the upper end of initial guidance and is adjusting its free cash flow forecast to about 5% of Group revenue.

TomTom N.V. Financial Update: Q2 Performance Review

Recommendation Rating: Neutral

TomTom N.V. has reported its financial results for the second quarter, revealing a GAAP EPS of -€0.19. The company generated revenue of €146.19 million, reflecting a decline of 3.9% compared to the previous year.

In terms of specific segments, Location Technology revenue slipped 2%, amounting to €126 million, down from €129 million in Q2 of the previous year. The Automotive segment experienced a more significant decline, with operational revenue falling 13% to €77 million, compared to €89 million in Q2 of the prior year.

On a more positive note, the company reported a free cash flow inflow of €14 million, an improvement from an outflow of €5 million in Q2 of the previous year. Additionally, TomTom's net cash position stood at €267 million, a slight increase from €264 million in Q4.

Looking ahead, TomTom anticipates that both Group and Location Technology revenues will reach the upper end of the initial guidance for the full year. Furthermore, the company is revisiting its free cash flow guidance, now expecting it to be approximately 5% of Group revenue at the midpoint of the projected range.