Brilliant Future (BRILL) investor relations material

Executive summary

• Revenue and ARR remained nearly stable year-over-year despite a challenging market with slow decision cycles and cautious investment behavior.

• Cost-saving initiatives and business model adjustments led to improved underlying profitability, with adjusted EBITDA and EBIT showing significant improvement.

• The company is focusing on scalability, digitalization, and AI-driven offerings, launching a new brand profile and enhancing its digital presence.

Financial highlights

• Net revenue for Q1 2026 was 20,756 TSEK, down 2.3% year-over-year; total income was 24,697 TSEK, down 0.5%.

• EBITDA was 148 TSEK (down 71.6%), but adjusted EBITDA (excluding 1,803 TSEK restructuring costs) was 1,952 TSEK, up from 523 TSEK.

• EBIT was -3,299 TSEK (margin -15.9%), but adjusted EBIT improved to -1,496 TSEK from -2,432 TSEK.

• Earnings per share were -0.23 SEK, compared to -0.17 SEK last year.

• Cash flow from operations was 6,247 TSEK, down from 11,019 TSEK; cash at period end was 15,946 TSEK.

• ARR at quarter end was 72,933 TSEK, a decrease of 0.9% year-over-year.

Outlook and guidance

• Updated financial targets aim for positive EBIT margin and positive cash flow for the full year 2027, assuming stable ARR and cost coverage.

• Cost reduction program targeting 13 MSEK annual savings, with full effect expected in Q4 2026.