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First Venture Sweden (FIRST) investor relations material
First Venture Sweden Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Substantial decrease in net asset value (NAV) by -6.0% in Q3 2025, mainly due to a significant write-down in Verduro Group of approximately 16 MSEK.
New interim CEO, Andreas Lindenhierta, appointed at the end of September 2025.
Portfolio focus remains on technology, health, and sustainability sectors, with ongoing cost reduction initiatives.
Financial highlights
NAV at September 30, 2025: 201,721 TSEK (5.38 SEK per share), down from 214,654 TSEK (5.72 SEK per share) at June 30, 2025.
Q3 2025 operating result: -1,822 TSEK; net result: -2,479 TSEK.
Q1-Q3 2025 net result: -7,640 TSEK, compared to -7,145 TSEK for Q1-Q3 2024.
Cash and other investment instruments at quarter-end: 15,729 TSEK.
Cost reduction of approximately 1.8 MSEK annually expected from management changes.
Outlook and guidance
Zigrid’s first energy modules expected to be ready for customer delivery by end of 2026.
OneTwo Analytics aims for positive cash flow from mid-2026, with new customer contracts signed in 2025.
Mendi Innovation’s revenues grew about 40% year-over-year, with key sales periods ahead and US market expansion underway.
Tribonex completed a new share issue post-period, bringing in new investors and maintaining share value.
Verduro Group: Actions post-write-down?
Annual cost savings from management change
OneTwo Analytics: Path to cash flow positive
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Next First Venture Sweden earnings date
Q4 202519 Feb, 2026
Next First Venture Sweden earnings date
Q4 202519 Feb, 2026
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Frequently asked questions
First Venture Sweden is an investment company that focuses on early-stage growth investments in sectors such as technology, health, and sustainability. It provides capital and strategic support to its portfolio companies. The company is headquartered in Stockholm, Sweden, and its shares are listed on the Nasdaq First North Growth Market.
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