FlexQube (FLEXQ) Q2 2025 earnings summary

Executive summary

• Net sales for Q2 2025 decreased by 10.6% year-over-year to 22.3 MSEK, with order intake down 33.9% to 27.7 MSEK; both metrics improved sequentially from Q1 2025.

• EBITDA improved to -8.5 MSEK from -11.1 MSEK year-over-year, reflecting cost reductions and higher gross margin above 50%.

• Largest North American order to date (8.5 MSEK) for tugger train concept secured; first AMR project installed in Mexico.

• Cash and cash equivalents at period end were 19.3 MSEK, down from 40.7 MSEK a year earlier.

• Board repurchased and cancelled 220,000 options from former CEO, reducing dilution by 1.6%.

Financial highlights

• Order intake for Q2 2025: 27.7 MSEK (down 33.9% year-over-year); net sales: 22.3 MSEK (down 10.6%).

• EBITDA: -8.5 MSEK (improved from -11.1 MSEK); EBIT: -10.7 MSEK (improved from -13.4 MSEK).

• Net loss for Q2: -11.4 MSEK (vs. -13.9 MSEK); EPS: -0.8 SEK (vs. -1.0 SEK).

• Cash flow for Q2: -0.7 MSEK (vs. -3.4 MSEK); cash from operations: -1.2 MSEK.

• Gross profit for Q2: 10.8 MSEK (vs. 11.8 MSEK); operating margin: -48.1% (vs. -53.8%).

Outlook and guidance

• Order intake and sales in June reached break-even levels; sequential improvement in order intake by 28.9% over Q1.

• Significant upside expected if AMR sales accelerate; break-even sales level estimated at 40 MSEK per quarter.

• Large pilot project in the U.S. could lead to orders exceeding USD 12 million over 12–18 months if successful.

• Focused marketing and sales resources on U.S. market for AMR and tugger train products.

• Optimism for reduced market uncertainty and potential for increased automation demand due to labor shortages.