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Irisity (IRIS) investor relations material
Irisity Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 saw high commercial activity, but net sales declined due to delays in international AI projects and currency headwinds, with expectations for stronger Q4 performance.
New customer wins included a significant government project in Mexico and a new OEM partnership in Saudi Arabia, expected to drive future growth.
Strategic cost reviews and personnel adjustments were initiated to achieve cash flow positive results in upcoming quarters.
Financial highlights
Net sales for Q2 2025 were MSEK 17.9, down from MSEK 25.8 in Q2 2024; H1 2025 net sales were MSEK 36.0, down from MSEK 53.4 year-over-year.
Gross margin improved to 78.8% in Q2 2025 from 75.2% in Q2 2024, but H1 2025 gross margin fell to 72.8% from 79.0% year-over-year.
EBITDA for Q2 2025 was MSEK -12.0, nearly flat YoY; H1 2025 EBITDA was MSEK -30.8, down from MSEK -14.7 year-over-year.
Result after tax for Q2 2025 was MSEK -37.9, an improvement from MSEK -40.7 in Q2 2024; H1 2025 result after tax was MSEK -87.4, compared to MSEK -71.7 year-over-year.
Cash and available credit lines at quarter-end were MSEK 8.8, down from MSEK 26.5 a year earlier.
Outlook and guidance
Q3 2025 net sales are expected to remain lower YoY due to timing of revenue recognition, but a much stronger Q4 is anticipated.
Commercial activity and pipeline remain robust, with increased leads and project quotes for H2 2025.
Focus remains on MRR growth and cost reductions to achieve cash flow positive results.
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