Intellego Technologies (INT) Q4 2025 earnings summary

Executive summary

• Q4 2025 report and restated accounts for 2024 and 2025 were presented following extensive forensic and internal investigations into massive fraud, resulting in significant restatements and a much smaller business profile.

• The outgoing board has not made binding strategic decisions, leaving a clean slate for the incoming board to determine future direction.

• Stabilization efforts since November 2025 focused on understanding and addressing the fraud, restating accounts, and engaging stakeholders.

• The business now centers on Daro Group, with a focus on UV disinfection and curing technologies.

• 2025 was marked by the arrest of the former CEO for gross fraud, leading to a forensic investigation and major restatements of financials for 2024 and 2025.

Financial highlights

• SEK 640 million in 2025 and SEK 134 million in 2024 were reversed due to incorrect revenue recognition, following KPMG forensic analysis.

• Group Q4 2025 revenues were SEK 25.6 million, up from SEK 21.2 million in Q4 2024; full-year 2025 group revenues were SEK 98 million, up from SEK 94 million.

• Group Q4 2025 operating profit was -SEK 88 million, compared to -SEK 15 million in Q4 2024; full-year 2025 group operating profit was -SEK 175 million.

• Daro Group revenue grew to GBP 7.3 million (SEK 96.1 million) in 2025, up 7.2% year-over-year, with EBITDA margin rising to 11%.

• Net loss for 2025 was SEK -189.4 million, with EPS of SEK -6.16; cash flow from operating activities was SEK 55 million.

Outlook and guidance

• No financial guidance for 2026 is provided; a revised business plan is in development.

• The company aims to grow Daro Group with improved margins and focus on dosimeter technology for healthcare and industrial UV validation.

• Emphasis on leveraging Daro as a base, with global potential for UVC products and industrial curing markets.