Exalt (EXALT) Q4 2025 earnings summary

Executive summary

• 2025 was a year of restructuring, with cost reductions and organizational changes to address lower telecom revenues and improve profitability.

• Two major customer projects were postponed to 2026, negatively impacting Q4 revenue and results.

• New business wins and geographic expansion, including a new office in Malmö and five new local customers, position the company for future growth.

Financial highlights

• Q4 2025 net sales were 11.1 MSEK, down from 14.6 MSEK in Q4 2024.

• Q4 EBITDA was -0.5 MSEK (1.2 MSEK in Q4 2024); EBIT was -0.6 MSEK (1.2 MSEK in Q4 2024).

• Full-year 2025 net sales were 48.5 MSEK (49.1 MSEK in 2024); EBITDA was 0.1 MSEK (0.5 MSEK); EBIT was -0.2 MSEK (0.4 MSEK).

• Full-year net result was -3.2 MSEK (0.0 MSEK in 2024), with EPS of -0.06 SEK (0.00 SEK).

• Cash and cash equivalents at year-end were 0.6 MSEK (1.6 MSEK in 2024).

Outlook and guidance

• Strong order intake ahead of 2026 and new technical hires to meet customer needs.

• Focus for 2026 will be on core business in robust networks and secure communication, with strategic investments in cybersecurity and IoT solutions.

• The board is reviewing all strategic options, including a potential sale or other transactions, to maximize shareholder value.

• Forecast for Q4 and full-year 2026 has been revised downward after the reporting period.