Transiro (TIRO) investor relations material

Executive summary

• Q3 revenue rose 3.1% YoY to SEK 6.2m; EBITDA was SEK -0.2m, improving SEK 1.6m QoQ, while quarterly cash flow was SEK +1.2m.

• ARR increased 7.6% QoQ to SEK 21.5m; the shift toward recurring revenue and lower ongoing costs remains central to the path toward sustained profitability.

• The nine-month period remained loss-making, with revenue of SEK 19.8m and net loss of SEK 3.3m; comparative 2025 results included a SEK 37m Mestergruppen debt waiver.

Financial highlights

• Q3 2026 revenue was SEK 6.2m vs SEK 6.1m YoY; EBITDA SEK -0.2m vs SEK 0.5m, EBIT SEK -0.4m vs SEK 0.2m, and net loss SEK 0.4m vs net income SEK 0.2m.

• Jan-Sep revenue was SEK 19.8m vs SEK 21.5m; EBITDA SEK -2.4m vs SEK 38.3m, EBIT SEK -3.1m vs SEK 8.4m, and net loss SEK 3.3m vs net income SEK 7.6m.

• Q3 operating costs rose SEK 0.8m YoY to SEK 6.4m, mainly from staffing, annual wage adjustments and Nova BC costs.

• Q3 cash flow was SEK +1.2m vs SEK -0.4m YoY; Jan-Sep cash flow was SEK -2.8m vs SEK +0.4m.

Outlook and guidance

• Strategic goal: grow recurring revenue until it covers ongoing operating costs, while maintaining cost discipline and pursuing sustainable profitability; no numerical earnings guidance was stated.

• Remaining Nova BC consulting and implementation costs are expected to decline gradually and move toward more normal levels from December 2026.

• Priorities include increasing Nova BC sales, growing Klartext in Sweden and Norway, expanding Kassanova into adjacent retail niches, and converting the larger ARR base into profitability.