Fable Media Group (FABLE) Q4 2025 earnings summary

Executive summary

• Net sales for Q4 2025 fell 31% year-over-year to SEK 16.0 million, with total revenue down 27% to SEK 17.4 million.

• Excluding Brazil, Q4 net sales grew 18% to SEK 13.9 million, reflecting strong performance in other markets.

• Full-year 2025 net sales decreased 31% to SEK 65.5 million, but net sales excluding Brazil rose 22% to SEK 55.7 million.

• Profit after tax for Q4 was SEK 8.3 million, and for the full year SEK 31.9 million.

• The company continued its quarterly dividend program, distributing SEK 0.15 per share in December, with a yield of approximately 13%.

Financial highlights

• Q4 EBITDA decreased 31% to SEK 11.3 million; Adjusted EBITDA down 39% to SEK 10.0 million.

• Q4 EBITDA margin remained strong at 71%; Adjusted EBITDA margin at 62%.

• Full-year EBITDA decreased 12% to SEK 46.2 million; Adjusted EBITDA down 37% to SEK 42.2 million.

• Full-year EBITDA margin improved to 71% from 56% year-over-year.

• Basic and diluted EPS for Q4 was SEK 0.25; full-year EPS was SEK 0.94.

Outlook and guidance

• 2026 guidance: net sales of SEK 70–85 million and Adjusted EBITDA of SEK 45–55 million.

• Anticipates a significant increase in referred First Time Depositors in Q1 2026 due to improved partner agreements.

• Expects continued strong quarterly dividends, aiming to distribute 60–80% of net profit.