Free2Move (F2M) Q4 2025 earnings summary

Executive summary

• Net sales for Q4 2025 were SEK 3.8 million, with a year-end order backlog of SEK 11.1 million, reflecting continued market challenges and a 49% year-over-year revenue decline for the full year to SEK 11.3 million.

• Structural efficiency measures, including cost reductions and renegotiated supplier agreements, improved Q4 operating loss by SEK 2.5 million compared to Q4 2024.

• Capital structure was strengthened by converting SEK 20 million in shareholder loans to conditional equity contributions and extending remaining loans to 2027.

• Leadership changes included the CEO stepping down and a new COO appointment.

Financial highlights

• Q4 2025 net sales: SEK 3.8 million (Q4 2024: SEK 3.9 million); full-year 2025: SEK 11.3 million (2024: SEK 22.1 million).

• Q4 operating loss: SEK -7.4 million (Q4 2024: SEK -8.8 million); full-year operating loss: SEK -24.5 million (2024: SEK -24.4 million).

• Q4 net loss: SEK -7.4 million (Q4 2024: SEK -9.9 million); full-year net loss: SEK -25.1 million (2024: SEK -25.9 million).

• Cash flow from operations for Q4: SEK -4.1 million (Q4 2024: SEK -6.6 million); full-year: SEK -22.0 million (2024: SEK -5.7 million).

• Earnings per share: SEK -0.03 for Q4 (Q4 2024: SEK -0.04); SEK -0.10 for the year (2024: SEK -0.10).

Outlook and guidance

• Market stabilization is expected in 2026, with improved conditions for recovery and growth.

• EU regulations on energy efficiency and mandatory solar installations are anticipated to drive long-term demand.

• Lower cost base and increased recurring revenues position the group for improved growth prospects in 2026.