FSport (FSPORT) Q4 2025 earnings summary

Executive summary

• Q4 2025 focused on structural and business development, including a key partnership for Aftermath Interactive ahead of a new game launch, strengthening international presence.

• Videos and hockey content drove increased sponsorships and audience engagement, especially during major championships.

• The company is adapting to changing customer acquisition channels due to shifts in search and AI-driven traffic.

Financial highlights

• Q4 2025 net revenue was 310 TSEK, down from 774 TSEK year-over-year, mainly due to asset divestments.

• Full-year 2025 net revenue was 1,289 TSEK, compared to 3,358 TSEK in 2024.

• Q4 EBITDA was -1,021 TSEK (vs. -638 TSEK in Q4 2024); full-year EBITDA was 132 TSEK (vs. -1,907 TSEK in 2024).

• Result after tax for Q4 was -1,137 TSEK (vs. -2,080 TSEK); full-year result after tax was -1,705 TSEK (vs. -5,814 TSEK).

• Result per share for Q4 was -0.01 SEK (vs. -0.02 SEK); full-year -0.01 SEK (vs. -0.08 SEK).

• Cash flow at year-end improved to 4,631 TSEK (vs. -1,071 TSEK), with cash and equivalents at 6,217 TSEK (vs. 1,586 TSEK), mainly due to asset sales.

Outlook and guidance

• Focus for 2026 is on increasing growth by reaching more potential users and monetizing successful video content.

• Ongoing efforts to diversify customer acquisition channels in response to industry-wide changes.