Induct (INDCT) Q3 2025 earnings summary

Executive summary

• Disciplined cost control and business streamlining led to a significant margin increase and improved profitability, despite lower revenues compared to Q3 2024.

• EBITDA for Q3 2025 reached NOK 1.6 million, more than doubling year-over-year, and YTD EBITDA is up by 13% compared to last year.

• Net loss after tax for Q3 2025 improved by NOK 1.8 million year-over-year, with YTD loss reduced by nearly NOK 3 million.

• Commercial discussions with AstraZeneca and Portsmouth are progressing, with agreements expected by Q4.

• New license agreement signed for a healthcare module developed with Sunnaas Sykehus.

Financial highlights

• Q3 2025 revenue was NOK 3.4 million, down from NOK 5.2 million in Q3 2024, mainly due to accounting corrections and the end of the Warm Systems contract.

• Platform revenue in Q3 2025 was NOK 2.4 million, a 40% decrease year-over-year, while consulting revenue slightly increased.

• Operating expenses for Q3 2025 were less than 40% of Q3 2024 levels, at NOK 1.6 million.

• EBITDA for Q3 2025 was NOK 1.6 million, up from NOK 0.7 million in Q3 2024.

• Net profit before tax for Q3 2025 was -NOK 1.7 million, an improvement of NOK 1.8 million year-over-year.

Outlook and guidance

• Focus remains on increasing revenues, strengthening EBITDA, and delivering solid financial results.

• International growth expected through dedicated sales resources and new product modules.

• Agreements with AstraZeneca and Portsmouth anticipated by Q4, with potential for further UK expansion.