FormPipe Software (FPIP) investor relations material

Executive summary

• Net sales for Q2 2025 reached SEK 140 million, up 5% year-over-year, with recurring revenue at 80% of net sales and strong margin improvement despite currency headwinds and one-off divestment costs.

• Adjusted EBIT increased to SEK 12 million, up 50% year-over-year, excluding SEK 10 million in one-off divestment costs; reported EBIT was SEK 2 million.

• The divestment of the Public business area to STG Partners was announced for up to SEK 850 million, including SEK 775 million in cash, SEK 50 million loan, and SEK 25 million earn-out.

• Focus will shift to the Lasernet business, leveraging its strong ARR growth, global partner network, and market position for international expansion.

• Recurring revenue provides business stability, covering more than 105% of fixed operating costs.

Financial highlights

• Q2 2025 net sales: SEK 140 million (up 5% YoY); recurring revenue: SEK 112 million (up 5% YoY); ARR at period end: SEK 458 million (up 6% YoY).

• SaaS revenue grew 17% year-over-year in Q2, driven by 18% growth in Lasernet and 13% in Public.

• Q2 EBITDA: SEK 29 million (margin 21%); adjusted EBIT: SEK 12 million (margin 9%); net profit: SEK 0 million.

• Recurring revenue for the last twelve months was SEK 443 million, up 8% year-over-year.

• Q2 cash flow from operations: SEK 21 million; net cash position at period end: SEK 28 million.

Outlook and guidance

• Margin improvement is expected to continue, with focus on accelerating Lasernet growth and international expansion.

• Further strategic updates and expansion plans will be shared at the Capital Markets Day in November.

• Additional one-off costs related to the divestment are expected in Q3, but will be less than SEK 10 million.