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Fortnox (FNOX) investor relations material
Fortnox Q1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2025 earnings summary24 Apr, 2025
Executive summary
Achieved 25% organic growth and 33% EBIT growth in Q1 2025, with net sales rising 21% to SEK 563 million and EBIT reaching SEK 246 million, surpassing key targets.
EBIT margin improved to 44%, with 16 consecutive quarters above 60% in the rule of FNOx metric.
Profit after tax grew to SEK 210 million, and ARPC surpassed SEK 300, reaching SEK 304.
Financial services emerged as the fastest-growing area, with significant traction in factoring and business card usage.
Board recommended acceptance of a SEK 89.75 per share public offer from EQT X and First Kraft AB.
Financial highlights
Net sales reached SEK 563 million, up 21% year-over-year; organic net sales up 25%.
EBIT increased to SEK 246 million from SEK 185 million, with a 44% EBIT margin.
Profit for the period was SEK 210 million, compared to SEK 149 million in Q1 2024.
Free cash flow grew by 57% to SEK 171 million, adjusted for lending and acquisition.
Cash and cash equivalents at period end were SEK 896 million, up from SEK 377 million.
Outlook and guidance
Continued focus on strategic changes, seamless workflows, user experience, and integrating payments and financing.
Ongoing emphasis on organic growth, expanding financial services, and increasing product usage.
ARPC target of SEK 300 achieved; customer number target expected to fall short, but combined five-year growth strategy targets are expected to be met.
No specific guidance on international expansion; new business plan in development.
How did Boardeaser/VisualBy affect net sales?
Why did subscription customer growth slow?
Explain the impact of Mynt AB warrants.
Payments strategy: Where is the focus for next year?
What drove Q1's lower employee cost growth?
Update on international expansion strategy
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Frequently asked questions
Fortnox is a web-based financial administration service that uses cloud computing to make bookkeeping and invoicing simple. Fortnox’s cloud based software offers a holistic solution to financial administration, which includes functions such as invoice and order handling, project management, warehouse management and accounting. The financial information of the company is collected in a single place to present an overview of the operations in real time. Notifications can be customized and information can be published on the internet site or intranet of the organization.
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