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Clavister (CLAV) investor relations material
Clavister Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Order intake grew 52% year-over-year, with net sales up 22% and ARR up 9%, supported by growth across all business lines and no reliance on single large orders.
Major defence order of 68 MSEK from BAE Systems and a new partnership agreement with Saab post-quarter.
Strategic partnerships, notably with Saab, and new product launches in defense and AI-driven cybersecurity highlighted the quarter.
Innovation milestones include US and EU patent approval for PASAD AI technology and launch of CyberArmour RSG-200 for tactical deployments.
Order backlog reached SEK 375 million, extending visibility into 2029.
Financial highlights
Net sales reached SEK 55 million (54.8 MSEK), up 22% year-over-year; ARR at 136.6 MSEK, up 9.3%.
Gross margin improved to 81% (81.1%), above the 80% target, supported by a favorable sales mix.
Adjusted EBITDA margin rose to 16.3%, with adjusted EBITDA up 60% and adjusted EBIT at -2.4 MSEK (improved from -6.1 MSEK).
Net result for the quarter was -15.9 MSEK, with EPS at -0.06 SEK.
Slight negative operational cash flow due to higher inventory and increased accounts receivable, expected to normalize in Q3.
Outlook and guidance
Targeting at least 20% CAGR sales growth for 2025–2027 and positive EBIT in 2025.
Ambition for 2025: EBITDA margin of at least 20% and positive operational cash flow.
Investments prioritized in sales, marketing, and technology to capture favorable market conditions.
Order backlog provides strong revenue visibility through 2029, with defense orders supporting long-term growth.
Confident in long-term growth, supported by a strengthened balance sheet and strategic partnerships.
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