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Westpay (WPAY) investor relations material
Westpay Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary30 Oct, 2025
Executive summary
Net sales for Q3 2025 increased by 5% year-over-year to MSEK 17.5, with recurring revenues up 11% to MSEK 12.6, now 72% of total sales.
EBITDA for Q3 rose 158% to MSEK 4.1, and EBIT turned positive at MSEK 1.8 compared to -0.8 last year.
Net earnings for Q3 were MSEK 1.6, a turnaround from a loss of MSEK -1.4 in Q3 2024.
Year-to-date (Jan–Sep 2025), net sales grew 12% to MSEK 53.1, with EBITDA up 258% to MSEK 9.5 and net earnings at MSEK 2.4 versus a loss of MSEK -6.4 last year.
Annual Recurring Revenue (ARR) reached MSEK 50.5, up 11% year-over-year, reflecting strong SaaS transformation and performance visibility.
Financial highlights
Gross margin for Q3 was 89%, up from 82% in Q3 2024.
Recurring revenues made up 72% of Q3 net sales and 69% for the nine-month period.
Cash flow from operating activities in Q3 was MSEK -3.1, mainly due to increased receivables and inventories.
Cash and cash equivalents at period end were MSEK 0.9, with available liquidity of MSEK 3.9.
Equity ratio improved to 33% from 14% a year ago.
Outlook and guidance
Management is confident liquidity and operations are secured for at least the next 12 months.
Long-term financial goal: average annual sales growth of 20% and EBITDA margin of at least 10%.
Silverflow integration's impact on competitive edge?
Q3 negative operating cash flow drivers?
How does the 2024 accounting change affect 2025 results?
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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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