Amido (AMIDO) Q1 2025 earnings summary

Executive summary

• Achieved 14% year-over-year growth in recurring revenues, now 77% of net sales.

• Strategic contract with Göteborgs Stad Skolförvaltning, initial value 1.7 MSEK.

• Market remains cautious due to geopolitical uncertainty, delaying new customer sales.

• Smart Passage product sees increasing demand from both existing and new customers.

Financial highlights

• ARR at period end was 27.1 MSEK, up from 23.8 MSEK year-over-year.

• Net sales increased 1% to 8.8 MSEK (8.7 MSEK last year); total revenues 10.9 MSEK (11.4 MSEK last year).

• EBITDA was 0.4 MSEK (1.2 MSEK last year); pre-tax result -1.6 MSEK (-1.4 MSEK last year).

• Earnings per share -0.05 SEK, unchanged year-over-year.

• Churn at 0%, with no contracts terminated during the period.

Outlook and guidance

• Underlying demand for secure, cloud-based access solutions remains strong despite delayed investment decisions.

• Expect continued growth in Smart Passage and confidence in market positioning.