The report shows that the company continued to grow in 2025 while profitability improved markedly compared with 2024. Revenue increased by around 12% for the full year, ARR continued to grow and EBITDA, EBIT and net earnings all turned positive. Cash flow was strong, with clearly positive free cash flow and a high cash balance at year-end.
Earnings & growth (Group)
Full year 2025 (Jan–Dec)
- Net sales: +12% 598 MSEK (536.2)
- Invoiced sales: +10% 627.2 MSEK (569.4)
- Invoiced sales constant currency growth: 16%
- EBITDA: 35.631 MSEK (-37.8) ⇒ EBITDA margin 6.0% (-7.1)
- EBIT: 13 MSEK (-63)
- Net earnings: 10.2 MSEK (-46.4)
- EPS (before/after dilution): 0.13 SEK (-0.60)
Q4 2025 (Oct–Dec)
- Net sales: +10% 154.3 MSEK (140.8
- Invoiced sales: +11% 172.1 MSEK (154.6)
- Invoiced sales constant currency growth: 20%
- EBITDA: 12.9 MSEK (-6.0) ⇒ EBITDA margin 8.4% (-4.3)
- EBIT: 7.6 MSEK (-12.2)
- Net earnings: 5.525 MSEK ( -9.1
- EPS (before/after dilution): 0.07 SEK (-0.12)
ARR & operational KPIs
- ARR (end of period): 614.034 MSEK (567.118)
- Monthly active retained leaders (avg, Q4): 619k (Q4: 550k)
- Monthly active retained leaders (avg, full year): 527k (503k)
- Total Enterprise customers: 2,759 (2,298)
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