FormPipe Software (FPIP) Q2 2025 earnings summary

Executive summary

• Q2 2025 net sales increased to SEK 140 million, up from SEK 132 million year-over-year, with recurring revenue representing 80% of net sales.

• Divestment of the Public business area announced for up to SEK 850 million, including SEK 775 million in cash, SEK 50 million loan note, and SEK 25 million earn-out.

• Margin improvement achieved despite SEK 10 million in one-off divestment costs and currency headwinds.

• Post-divestment, focus shifts to Lasernet, targeting mid to large-sized companies with document management solutions and international growth.

• Capital Markets Day scheduled for November to outline future growth strategies for Lasernet.

Financial highlights

• Net sales for Q2 reached SEK 140 million, up 5% year-over-year; recurring revenue for the last twelve months was SEK 443 million, up 8% year-over-year.

• EBIT increased to SEK 12 million, excluding SEK 10 million in one-off divestment costs; reported EBIT was SEK 2 million.

• SaaS revenue grew 17% year-over-year in Q2, with 18% growth from Lasernet.

• EBITDA margin improved to 21% in Q2.

• Outgoing ARR at end of Q2 was SEK 458 million, a 6% increase year-over-year.

Outlook and guidance

• Margin improvement expected to continue, with focus on Lasernet's international growth and profitability post-divestment.

• New financial targets and KPIs to be communicated at the upcoming Capital Markets Day in November.

• Investments planned in product platform modernization and proactive go-to-market strategies.