CodeMill (CDMIL) Q4 2025 earnings summary

Executive summary

• Focused on accelerating product growth, especially in the US, with digital services supporting product sales.

• Recurring revenue continued to grow, but total revenue declined due to a shift from consulting to product-centric business and currency headwinds.

• Market uncertainty from a failed takeover bid and industry turbulence impacted sales and results.

Financial highlights

• Q4 net sales: 15,683 KSEK, down 32% year-over-year; full year: 67,185 KSEK, down 27%.

• Recurring revenue run-rate: 46,123 KSEK, up 4% year-over-year.

• Q4 EBIT: -248 KSEK (2,364 KSEK prior year); full year EBIT: 37 KSEK (10,892 KSEK prior year).

• Q4 EBITDA: 3,824 KSEK (6,440 KSEK prior year); full year EBITDA: 15,639 KSEK (26,530 KSEK prior year).

• Q4 net result: -325 KSEK (2,482 KSEK prior year); full year net result: -42 KSEK (10,937 KSEK prior year).

• Cash flow from operations: 14,550 KSEK for the year (28,257 KSEK prior year).

• Cash and cash equivalents: 28,744 KSEK at year-end (32,824 KSEK prior year).

Outlook and guidance

• 2026 focus is to accelerate product growth after two years of transformation.

• Increased development and commercialization pace expected.