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Carasent (CARA) investor relations material
Carasent Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved 16% organic ARR growth in Q3 2025, with over 90% recurring revenue and net revenue retention of 111%.
Q3 2025 revenue reached SEK 82.2 million, up 27% year-over-year, with EBITDA margin at 29% and EBITDA of SEK 23.6 million.
Margin expansion and profitability driven by cost control, efficiency improvements, and strong subscription-based revenue growth.
Major development projects and new modules launched in Germany, Sweden, and Norway, with key implementations expected in Q4.
Net income was SEK 14.1 million, reversing a loss of SEK -2.0 million in Q3 2024.
Financial highlights
ARR at quarter end was SEK 335 million, with 16% organic ARR growth and 27% total ARR growth year-over-year.
Subscription-based revenue grew 33% year-over-year; gross profit margin stable at 85%.
EBITDA margin reached 29% (no adjustments); EBITDAC improved significantly year-over-year.
Free cash flow for Q3 2025 was SEK -9.0 million, impacted by working capital and investments.
Share buyback program spent SEK 70 million, repurchasing over 3% of shares; cash balance at SEK 170–173 million.
Outlook and guidance
Q4 performance depends on timely implementation of major projects, with risk of revenue delay if not completed.
Financial targets for 2025 reaffirmed: revenue SEK 345–350 million, EBITDA ~SEK 75 million, EBITDAC ~SEK 35 million.
Continued investment in German market and AI solutions, with focus on cost control and efficiency gains.
Price increases planned slightly above inflation, with variations by contract type.
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