Northbaze Group
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Northbaze Group (NBZ) investor relations material

Northbaze Group has been delisted

Northbaze Group Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary20 Nov, 2025

Executive summary

  • Q3 2025 marked a turnaround with all subsidiaries delivering positive EBITDA in September, reflecting successful cost reductions and operational improvements.

  • Strategic decision made to delist from Nasdaq First North Growth Market to focus on operational efficiency and reduce costs.

Financial highlights

  • Net sales for Q3 2025 reached 81.7 MSEK, up from 48.5 MSEK in Q3 2024; nine-month sales totaled 229.3 MSEK, up from 131.2 MSEK year-over-year.

  • EBITDA for Q3 2025 was 4.2 MSEK (2.1 MSEK in Q3 2024); EBIT was 0.1 MSEK (-2.4 MSEK in Q3 2024).

  • Net result for Q3 2025 was -1.0 MSEK, a significant improvement from -4.1 MSEK in Q3 2024.

  • Gross margin declined to 24% from 41% in Q3 2024, mainly due to a shift in sales mix toward lower-margin distribution and B2C segments.

  • Cash flow from operations for Q3 2025 was -3.2 MSEK (4.5 MSEK in Q3 2024), impacted by increased accounts receivable following strong September sales.

Outlook and guidance

  • Focus remains on sustainable profitability, cost control, and leveraging synergies across Nordic subsidiaries.

  • No detailed forecasts provided; operations are guided by long-term targets of 20% annual growth, 10% EBITDA margin, and >30% equity ratio.

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Frequently asked questions

Northbaze Group AB, formerly known as Jays Group AB, is a Swedish company that designs, develops, and markets audio and technology accessories. Its product portfolio includes headphones, earphones, speakers, and mobile accessories under brands like Jays Headphones, Krusell, and CLINT Digital. The company also offers OEM/ODM solutions and private label products for various partners. Northbaze Group's operations span across multiple regions, including Sweden, Germany, China, and Thailand. Northbaze Group AB is headquartered in Gothenburg, Sweden, and its shares are traded on the Nasdaq Stockholm.