Anoto Group (ANOT) Q4 2025 earnings summary

Executive summary

• Net sales for Q4 2025 were 5 MSEK, down 18% year-over-year; full-year sales were 22 MSEK, down 26% year-over-year.

• Gross margin improved sharply to 58% in Q4 (from 13% last year) and 55% for the year (from 48%).

• Operating loss narrowed to -11 MSEK in Q4 (from -15 MSEK) and -58 MSEK for the year (from -60 MSEK).

• Net loss for Q4 was -14 MSEK (vs. -10 MSEK); full-year net loss was -96 MSEK (vs. -56 MSEK).

• Strategic shift to new flagship product line (inq) led to short-term revenue decline but improved profitability per unit.

Financial highlights

• Q4 EBITDA was -9 MSEK (vs. -4 MSEK); full-year EBITDA was -52 MSEK (vs. -45 MSEK).

• Earnings per share improved to -0.01 SEK in Q4 (from -0.03 SEK); full-year EPS was -0.08 SEK (from -0.15 SEK).

• Cash flow for Q4 was 0 MSEK (vs. 1 MSEK); year-end cash position was 0 MSEK (vs. 4 MSEK).

• Investments in product development totaled 1.3 MSEK in Q4 and 10.8 MSEK for the year.

Outlook and guidance

• Focus for 2026 is on expanding distribution, increasing recurring revenue, and leveraging improved product reception.

• New products and accessories, including a charging station and premium notebooks, are planned for launch in Q1 2026.

• Enhanced retail presence via Amazon and new distribution agreements in North America and internationally.