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Obducat (OBDU) investor relations material
Obducat Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary14 Nov, 2025
Executive summary
Revenue for Q3 2025 was 11.0 MSEK, a sharp decline from 34.0 MSEK in Q3 2024, mainly due to delayed deliveries caused by insufficient working capital.
Operating result for Q3 2025 was -12.8 MSEK, compared to 6.4 MSEK in Q3 2024; net result before tax was -13.9 MSEK versus 3.9 MSEK last year.
For the nine months ended September 2025, revenue was 33.1 MSEK (62.4 MSEK in 2024), with an operating loss of -26.7 MSEK and net loss before tax of -34.2 MSEK.
The company faced acute liquidity issues, leading to a focus on restoring delivery capacity and securing operational financing.
A rights issue of 49.5 MSEK (75% underwritten) and options for an additional 27.9 MSEK in 2026 were initiated to strengthen the balance sheet.
Financial highlights
Q3 2025 gross margin was 53% (57% in Q3 2024); for Jan–Sep 2025, gross margin was 54% (61%).
Earnings per share for Q3 2025 was -0.07 SEK (0.02 SEK in Q3 2024); for Jan–Sep 2025, -0.18 SEK (-0.02 SEK in 2024).
Cash flow after investments in Q3 2025 was 1.5 MSEK (-1.4 MSEK in Q3 2024); for Jan–Sep 2025, -22.8 MSEK (4.4 MSEK in 2024).
Order intake in Q3 2025 was 5.8 MSEK (2.3 MSEK in Q3 2024); order backlog at period end was 71.1 MSEK (85.9 MSEK in 2024).
Equity at period end was 4.8 MSEK, down from 5.9 MSEK a year earlier; equity ratio was -5% (6% in 2024).
Outlook and guidance
Management expects market conditions to improve in 2026, with customer indications of resuming paused investment plans.
The goal for 2026 is to achieve positive operating cash flow and annual revenue/order intake above 100 MSEK on a rolling 12-month basis.
Strategic focus is on growth, aiming for at least 15% CAGR in net sales from 2026–2028.
Sustainable profitability is targeted from 2026, supported by operational improvements and capital injections.
New rights issue: How to ensure full subscription?
Portugal foundry: Secure remaining 11.1 MEUR funding
Working capital impact on 2026 revenue targets
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Frequently asked questions
Obducat AB is a Sweden-based company specializing in nanotechnology solutions. The company develops and supplies lithography systems and processes used in the production and replication of micro- and nanostructures. Its products and services are utilized across various industries, including electronics, optics, and life sciences, for applications such as sensors, displays, and biomedical devices. The company is headquartered in Lund, Sweden, and its shares are listed on the Nasdaq Stockholm.
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