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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
I.A.R Systems Group
I.A.R Systems Group (IAR) investor relations material
I.A.R Systems Group has been delisted
I.A.R Systems Group Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary14 Aug, 2025
Executive summary
Transition to a subscription-based business model led to short-term revenue decline but increased recurring income and customer retention, with 21% of Q2 deals from subscriptions and 80 new customers added, especially in APAC.
Net sales for Q2 2025 were SEK 109.4m, down 11.2% year-over-year (–4.5% in local currency), mainly due to currency headwinds and deferred income from subscriptions.
Adjusted EBITDA margin for H1 2025 was 28.8% (down from 38.0%), impacted by FX effects, higher personnel costs, and the business model shift.
Order book grew 6% year-over-year to SEK 138.7m, with a stable and expanding pipeline driven by subscriptions.
Finnish software company Qt made an acquisition offer of SEK 180 per share in July, affecting EBIT/EBITDA due to related costs.
Financial highlights
Q2 2025 net sales: SEK 109.4m (–11.2% YoY), EBITDA: SEK 17.3m (15.8% margin), adjusted EBITDA: SEK 25.5m (23.3% margin).
H1 2025 net sales: SEK 233.5m (–3.9% YoY), EBITDA: SEK 55.9m (23.9% margin), adjusted EBITDA: SEK 67.2m (28.8% margin).
Q2 operating profit: SEK 4.6m (4.2% margin), adjusted operating profit: SEK 12.7m (11.7% margin).
Earnings per share (basic) Q2: SEK 0.16 (vs. 1.19), H1: SEK 1.65 (vs. 6.34).
Cash flow from operating activities Q2: SEK 41.9m (vs. 35.7m), H1: SEK 65.6m (vs. 68.4m).
Outlook and guidance
Focus for H2 2025 is on accelerating the subscription transition, expanding the customer base, and increasing platform usage.
Positive signals include a growing pipeline, strong customer feedback, and signs of recovery in the US and continued outperformance in China.
Long-term targets: 20% annual sales growth in local currency and operating margin above 20% within 3–5 years.
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I.A.R Systems Group
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Frequently asked questions
I.A.R Systems Group specializes in software tools and services for embedded systems development. The company provides integrated development environments, debugging tools, and compiler technology for microcontrollers and processors used in a variety of applications. I.A.R Systems Group serves sectors including automotive, industrial automation, medical technology, and consumer electronics. The company is headquartered in Uppsala, Sweden, and its shares are listed on the Nasdaq Stockholm.