CBRAIN (CBRAIN) Q1 2025 earnings summary

Executive summary

• Growth strategy in H1 2025 pivots to global leadership in Paperless Ministry and Environmental Permitting, driven by the rapid shift toward COTS government software.

• Strong financial position enables creation of dedicated units for these niches and supports international expansion.

• Partnerships, notably with UNDP, are expanding digital transformation initiatives in Africa, including a training academy in Nairobi.

• Significant development in Denmark, Germany, and Romania, with new contracts, rapid deployments, and successful pilots.

• White House executive order and reports highlight COTS and digital permitting, referencing F2 solutions as best practices.

Financial highlights

• Institutional investor ownership increased by 5% in Q1 2025, now at 24% of total investors.

• 2025 financial guidance maintained: revenue growth expected at 10-15% and EBT at 18-23%.

• Budget includes €4 million in one-time costs for market expansion, fully included in 2025 outlook.

Outlook and guidance

• Growth strategy targets global leadership in Paperless Ministry and Environmental Permitting, leveraging proven results and international pilots.

• International quarterly investor meetings to begin from August 2025.

• Execution of new strategy introduces uncertainty to 2025 revenue outlook, with potential for both upside and downside.

• Allocation of leadership and delivery resources to new initiatives may temporarily slow current activities.