Zalaris
Logotype for Zalaris

Zalaris (ZAL) investor relations material

Zalaris Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Zalaris
Q4 2025 earnings summary26 Feb, 2026

Executive summary

  • Achieved record quarterly revenue of NOK 396.5 million in Q4 2025, up 8.7% year-over-year, and full-year revenue of NOK 1.5 billion, up 12% organically, with Managed Services driving growth and accounting for 80% of revenue.

  • Adjusted EBIT for Q4 was NOK 50.6 million (12.8% margin); full-year adjusted EBIT was NOK 194 million (12.9% margin), up from NOK 147 million (11%) in 2024.

  • Operating cash flow reached NOK 68 million in Q4 and NOK 162.5 million for the year.

  • Board proposes a dividend of NOK 2.5 per share for 2025, reflecting strong financial position and outlook.

  • Signed new long-term contracts totaling NOK 80 million in annual recurring revenue since Q3, including major agreements with NAV, a UKI customer, Swiss MedTech, and a German carve-out.

Financial highlights

  • Q4 revenue: NOK 396.5 million (+8.7% YoY); full-year: NOK 1.5 billion (+12% YoY).

  • Adjusted EBIT Q4: NOK 50.6 million (12.8% margin); full-year: NOK 194 million (12.9% margin).

  • Operating cash flow Q4: NOK 68 million; full-year: NOK 162.5 million.

  • Net interest-bearing debt reduced to NOK 216.7 million; leverage ratio at 0.76.

  • Net profit for Q4: -NOK 1.9 million (vs. NOK 13.4 million last year), impacted by one-off bond redemption costs.

Outlook and guidance

  • Targeting NOK 2 billion revenue and 13%-15% EBIT margin by Q4 2028, with 10% annual productivity improvement from AI and automation.

  • Signed contracts to add NOK 68–80 million in annual recurring revenue, supporting a 6% annual revenue increase for 2026.

  • Maintains guidance of 1.5–3% annual churn and 10% average annual revenue growth.

  • Strong pipeline with increased deal flow expected in the next three months.

  • No expectation of increased activity from a large Polish customer; focus on new customer acquisition.

How does AI deployment support 13-15% EBIT target?
Detail Consulting segment's Q1 2026 normalization plan?
What is the gross ARR impact of the 2027 customer churn?
Public sector strategy post-NAV win
How AI enhances service quality and value
Consulting segment turnaround plan
Partial view of Summaries dataset, powered by Quartr API
AI can get things wrong. Verify important information.
Research faster. Power your platform.

Next Zalaris earnings date

Logotype for Zalaris
Q1 202628 Apr, 2026
Zalaris
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Zalaris earnings date

Logotype for Zalaris
Q1 202628 Apr, 2026

The essential earnings season companion

The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Zalaris is a Nordic based leading partner for integrated HR and payroll services, reducing complexity and enabling companies to focus on their core businesses. Zalaris offers cloud-based HR and payroll for more than 700 000 employees in 27 countries, with roots back to 2000. Zalaris is listed on the Oslo Stock Exchange with ticker code: ZAHL and is headquartered in Oslo, Norway.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage