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Westpay (WPAY) investor relations material

Westpay Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary22 Aug, 2025

Executive summary

  • Net sales grew 20% year-over-year in Q2 2025 to MSEK 17.8, with recurring revenues now 70% of total sales.

  • Annual Recurring Revenue (ARR) increased 20% year-over-year to MSEK 49.7.

  • EBITDA improved to MSEK 2.6 from -0.7 in Q2 2024, and net earnings reached break-even from a loss of MSEK -2.9.

  • Gross margin strengthened to 90% in Q2 2025, up from 83% a year earlier.

  • SaaS transformation continues to drive sustainable growth and profitability.

Financial highlights

  • Q2 2025 net sales: MSEK 17.8 (up 20% year-over-year); recurring revenues: MSEK 12.4 (up 20%).

  • Q2 2025 EBITDA: MSEK 2.6 (from -0.7); EBIT: MSEK 0.2 (from -2.1); net earnings: MSEK 0.0 (from -2.9).

  • Adjusted Q2 EBIT: MSEK 1.2 (from -2.5); adjusted net earnings: MSEK 1.0 (from -3.3).

  • H1 2025 net sales: MSEK 35.6 (up 15% year-over-year); EBITDA: MSEK 5.4 (from 1.1); EBIT: MSEK 0.5 (from -3.4).

  • Cash flow from operating activities in Q2: MSEK 4.4; total cash flow: MSEK 0.1.

Outlook and guidance

  • Focus remains on scaling recurring revenue, expanding into new verticals, and investing in product innovation, especially AI-driven enhancements.

  • Long-term financial goal: average annual sales growth of 20% and EBITDA margin of at least 10%.

  • Confident in liquidity and continued operations for at least the next 12 months.

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Frequently asked questions

Westpay develops and supplies payment solutions including payment terminals, software, and integration services. The company serves merchants in sectors such as retail, hospitality, and service industries, providing secure electronic payment systems compatible with multiple payment methods. The company is headquartered in Upplands Väsby, Sweden, and its shares are listed on the STO.

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