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Smartcraft (SMCRT) investor relations material
Smartcraft Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved 8.4% year-over-year ARR growth in Q4 2025, reaching NOK 522.3 million, with 6.5% organic growth, and served 14,100 customers and 189,000+ users across Norway, Sweden, Finland, and the UK.
Recurring revenue share reached 95.9% in Q4, reflecting a continued shift from non-recurring to recurring revenue streams.
Launched and expanded AI-driven products, notably SmartCraft Spark and Flow, enhancing quoting efficiency and workflow optimization.
Initiated international expansion, with Locka securing its first UK customer and further growth in Finland and outside Scandinavia.
Announced relisting from Oslo to Nasdaq Stockholm in Q1 2026 to improve share liquidity and align with revenue concentration in Sweden.
Financial highlights
Q4 2025 revenue was NOK 144 million, up 5.4% year-over-year, with ARR at NOK 522.3 million.
Adjusted EBITDA for Q4 was NOK 48.7 million, margin 33.9%, and adjusted EBITDA minus CapEx margin increased by 2.5 percentage points YoY to 26.7%.
R&D CapEx was 7.2% of revenue in Q4 and 8% for the full year, consistent with prior guidance.
Operational cash flow declined year-over-year, mainly due to extraordinary tax prepayments and higher accounts payable, totaling NOK 16 million in impact.
Solid equity position at 74%, net cash positive, and cash and cash equivalents at year-end were NOK 144.7 million.
Outlook and guidance
Maintains a midterm organic growth target of 15–20%, with margin expansion expected due to business scalability.
Plans to drive growth through cross-selling, new product features, and selective M&A, while keeping margins around 30%.
Price increases implemented for key products, with ongoing evaluation of value-based pricing strategies.
Short-term impact anticipated from recently acquired companies.
Market recovery is expected to be gradual, with renovation and service activity stable and new-build markets showing signs of bottoming out.
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