BIMobject (BIM) Q1 2025 earnings summary

Executive summary

• CEO transition completed, with recruitment for a permanent CEO ongoing and non-recurring costs of MSEK 3.6 related to this and LTIP provisions; strong confidence in the interim management team.

• Strategic transformation continues, focusing on validating, implementing, and growing a scalable ecosystem for product data and AI-driven solutions in the construction industry.

• Acquisition of GreenMetrica and Lumea AI Platform to strengthen AI capabilities and product development, with a letter of intent signed.

• Net sales increased 10% year-over-year to MSEK 43.4, with recurring revenue representing 80% of total sales.

• ARR in constant currencies grew 7% year-over-year to MSEK 136.1, but growth slowed due to higher churn and downgrades.

Financial highlights

• Net sales: MSEK 43.4 (39.6), +10% year-over-year; recurring revenue: MSEK 34.6 (32.1), +8%.

• EBITDA: MSEK -18.1 (-7.7); EBIT: MSEK -20.2 (-9.9); EPS: SEK -0.15 (-0.04).

• Liquid assets at period end: MSEK 196.4 (223.5); cash and cash equivalents: MSEK 65.2 (58.4); short-term investments: MSEK 131.2 (165.2).

• Personnel costs increased to MSEK 42.5 (33.7) due to new hires and non-recurring items.

• Underlying cost increase of 18% year-over-year, mainly due to more consultants and employees.

Outlook and guidance

• Strategic investments in platform and AI solutions to continue throughout 2025, with commercial impact expected towards year-end and beyond.

• No specific profitability guidance provided; continued investment in new products is prioritized for long-term growth.

• Product-market fit validation and scale-up preparations for EandoX underway.