Exalt (EXALT) Q1 2025 earnings summary

Executive summary

• Revenue increased by 11.8% to SEK 13.3 million in Q1 2025 compared to SEK 11.9 million in Q1 2024, driven by customer projects, product sales, and new service agreements.

• EBITDA decreased to SEK 0.2 million from SEK 0.4 million year-over-year, mainly due to lower utilization rates among installers and consultants.

• Net income for the period was SEK 0.1 million, down from SEK 0.3 million in Q1 2024.

• Cash flow was impacted by SEK 1.0 million in loan amortizations, improving equity ratio.

Financial highlights

• EBIT for Q1 2025 was SEK 0.2 million, compared to SEK 0.3 million in Q1 2024.

• Cash and cash equivalents at March 31, 2025, were SEK 2.8 million, down from SEK 3.3 million a year earlier.

• Total assets at quarter-end were SEK 18.3 million, compared to SEK 19.5 million in Q1 2024.

• Equity at period end was SEK 4.4 million, up slightly from SEK 4.3 million in Q1 2024.

• Number of employees increased to 37 from 32 year-over-year.

Outlook and guidance

• Revenue from the telecom sector is expected to be significantly lower in 2025 due to reduced 5G rollout and customer investment caution.

• The business environment is more uncertain, with delayed investment decisions, trade barriers, and rising product prices.

• Strategy remains focused on expanding to a broader customer base and maintaining readiness for tougher market conditions.