Checkin.com (CHECK) Q4 2025 earnings summary

Executive summary

• Net revenue declined 10% year-over-year to KSEK 69,871 for 2025, with Q4 revenue at KSEK 15,506, the lowest since 2022.

• EBITDA margin improved to 21% for the year and 22% in Q4, reflecting strong cost control despite revenue headwinds.

• A major customer, a European airline, reduced usage sharply, causing a significant Q4 revenue drop.

• Goodwill and intangible assets from GetID and Datacorp acquisitions were fully written down, impacting net results by KSEK -115,750 as a one-time, non-cash item.

• Positive cash flow after investments was achieved in Q4 for the first time in two years.

Financial highlights

• Net revenue for 2025: KSEK 69,871 (down 10% year-over-year); Q4: KSEK 15,506 (down 10% year-over-year, down 11% sequentially).

• Gross profit for 2025: KSEK 49,764 (margin 71%); Q4: KSEK 11,216 (margin 72%).

• EBITDA for 2025: KSEK 14,932 (margin 21%); Q4: KSEK 3,459 (margin 22%).

• Operating profit (EBIT) for 2025: KSEK -131,552; Q4: KSEK -118,669, both heavily impacted by goodwill writedown.

• Net result for 2025: KSEK -129,686; Q4: KSEK -116,928.

• Cash and cash equivalents at year-end: KSEK 13,675.

Outlook and guidance

• Focus for 2026 is on core strengths in regulated industries (iGaming, Fintech, Europe) and cost discipline.

• New CEO, Arif Rehman, to join by May 2026, bringing experience in tech and SaaS.

• Board ceased external communication of financial targets as of November 2025.