Comintelli (COMINT) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 were SEK 6.7m, down from SEK 7.7m in Q1 2024, reflecting seasonality and currency headwinds, but SaaS transition is nearly complete and financial position remains strong.

• EBITA for Q1 2025 was SEK -1.9m, compared to SEK -0.9m in Q1 2024, impacted by lower renewals and negative currency effects.

• ARR at period end was SEK 31.9m, up 5.3% year-over-year, with SaaS now representing 93% of ARR.

• Launched AI-based Telli™ solution, with first customers live, and appointed a new Chief Revenue Officer to drive commercial growth.

Financial highlights

• Total revenues for Q1 2025 were SEK 6.9m (SEK 8.1m in Q1 2024); EBITA was SEK -1.9m (SEK -0.9m); EBT was SEK -2.3m (SEK -1.1m).

• Cash flow for the quarter was SEK +2.7m (SEK +1.2m), with cash and bank at SEK 6.4m at period end.

• Interest-bearing debt reduced to SEK 0.3m from SEK 3.2m year-over-year.

• Earnings per share after tax was SEK -0.23 (SEK -0.12 in Q1 2024), reflecting increased share count from a directed new share issue.

Outlook and guidance

• Commercial focus strengthened with new CRO; emphasis on new customer acquisition and growth in SaaS and AI.

• Financial discipline and strong cash position enable continued investment in AI development and commercial capacity.