Briox (BRIX) Q2 2025 earnings summary

Executive summary

• Customer base grew 68% year-over-year in Q2 2025, reaching 13,186 customers, driven by new partner agreements in Sweden and Finland.

• Annual Recurring Revenue (ARR) increased 43% year-over-year to 28.1 MSEK, with strong sales momentum and onboarding progress.

• Net sales for Q2 2025 rose 31% year-over-year to 3,813 tkr, reflecting robust growth in both Sweden and Finland.

• EBITDA improved to -3,151 tkr from -4,257 tkr year-over-year, reflecting continued cost focus and growth investments.

• Strategic launches and partnerships, including entry into the Swedish market and agreements with Kivra and YTL, underpin future growth.

Financial highlights

• Q2 2025 net sales: 3,813 tkr (up from 2,921 tkr in Q2 2024); H1 2025 net sales: 7,490 tkr (up from 6,257 tkr in H1 2024).

• Q2 2025 EBITDA: -3,151 tkr (improved from -4,257 tkr); H1 2025 EBITDA: -5,736 tkr (improved from -7,481 tkr).

• Q2 2025 pre-tax result: -6,178 tkr (vs. -7,201 tkr); H1 2025 pre-tax result: -11,716 tkr (vs. -13,286 tkr).

• Cash flow from operations in Q2 2025: -1,402 tkr (vs. -3,238 tkr); H1 2025: -5,927 tkr (vs. -8,379 tkr).

• Equity at period end: 37,051 tkr; cash and cash equivalents: 16,316 tkr; equity ratio: 74%.

Outlook and guidance

• Positioned ahead of plan to reach 100,000 customers, with strong partner pipeline and continued focus on onboarding and customer success.

• Intensified efforts planned post-summer to accelerate partner activation and ARR growth.

• Ongoing cost discipline and growth investments aimed at achieving positive cash flow.