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Sleep Cycle (SLEEP) investor relations material
Sleep Cycle Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary24 Oct, 2025
Executive summary
Q3 2025 focused on launching the Powered by Sleep SDK, expanding partnerships, and advancing sleep apnea screening clinical trials, with 20% completion toward medical certification.
Partnership revenue grew 55% year-over-year, now representing 11% of total revenue.
Revenue diversification and price increases in key markets are being implemented to offset headwinds in the sleep tracking segment.
Strategic focus on technology licensing, partnerships, and product innovation to diversify revenue.
Product innovation includes new AI sleep coach, smart alarm refinements, and premium app design.
Financial highlights
Net sales for Q3 2025 were SEK 62 million (tSEK 61,523), down 6.6% year-over-year (4.7% FX adjusted).
EBIT for Q3 2025 was SEK 17 million (tSEK 16,792), with a margin of 27.3%, down from 31.3% a year ago.
Number of paying subscribers ended at 832,000, down 9% year-over-year.
ARPU was SEK 271 (SEK 276 FX adjusted), with new sales ARPU in the US reaching SEK 500 in October, up 25% since July.
Cash and cash equivalents at period end were SEK 114.6 million, with Q3 operating cash flow of SEK 5.5 million.
Outlook and guidance
Price increases are expected to gradually support ARPU, but the impact is delayed due to 12-month subscription recognition.
Partnership revenue is expected to continue growing in Q4.
Ongoing investments in technology licensing, clinical validation for sleep apnea screening, and product innovation.
Too early to predict if price increases will return subscriber growth in Q4.
Sleep apnea screening initiative aims for medical certification submission by end of 2026.
How will Sleep SDK diversify revenue streams?
What is the sleep apnea commercialization timeline?
How does new pricing affect subscriber retention?
Sleep apnea revenue contribution timing?
Sleep SDK pilot customer progress in Q4?
ARPU growth vs. subscriber volume strategy?
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Next Sleep Cycle earnings date
Q4 20254 Feb, 2026
Next Sleep Cycle earnings date
Q4 20254 Feb, 2026
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Frequently asked questions
Sleep Cycle develops sleep tracking and health-related apps for smartphones and tablets, and operates the Sleep Cycle website offering online sleep monitoring services. It offers an autonomous sleep tracking tool that tracks and analyzes sleep patterns. The company was founded in 2008 and is headquartered in Gothenburg, Sweden.
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