Anoto Group (ANOT) Q3 2025 earnings summary

Executive summary

• Q3 2025 net sales rose 33% year-over-year to 7 MSEK, driven by both Retail and Enterprise Solutions.

• Gross margin declined to 40% from 52% in Q3 2024.

• Operating loss improved to -13 MSEK from -15 MSEK year-over-year.

• Net result for the quarter was -26 MSEK, or -0.03 SEK per share, an improvement from -0.07 SEK per share last year.

• Launch of the new inq flagship product line and expansion into B2C markets marked a strategic shift.

Financial highlights

• Q3 net sales: 7 MSEK (5 MSEK in Q3 2024), +33% year-over-year.

• Gross margin: 40% (52% in Q3 2024).

• Operating loss: -13 MSEK (-15 MSEK in Q3 2024).

• EBITDA: -11 MSEK (-14 MSEK in Q3 2024).

• Net result: -26 MSEK (-27 MSEK in Q3 2024).

• Cash flow for the quarter: 0 MSEK (-5 MSEK in Q3 2024).

• Cash at period end: 0 MSEK (3 MSEK in Q3 2024).

Outlook and guidance

• Focus remains on expanding distribution, increasing recurring revenue, and launching new products in 2026.

• Amazon store for inq opened in November, broadening B2C reach in the US.

• New accessories and premium notebooks to launch in Q1 2026 to strengthen the inq ecosystem.