Invoicery Group (FRILAN) Q3 2025 earnings summary

Executive summary

• Achieved stable growth with a focus on economic and social sustainability, with net sales up 3.7% to 449 MSEK in Q3 2025 and 5.2% to 1,346 MSEK for the first nine months year-over-year.

• Egenanställning segment drove growth, accounting for 83.9% of Q3 revenue; international operations showed the strongest growth at 25% in Q3.

• Workforce Management segment saw a slight decline in Q3 revenue but grew 1.3% over nine months.

• Listed on Spotlight Value in September, highlighting proven stability and performance.

Financial highlights

• Q3 2025 net sales: 449 MSEK (up 3.7% year-over-year); EBITDA: 6.3 MSEK (margin 1.40%); operating income: 5.5 MSEK (margin 1.22%).

• Net income after tax: 4.8 MSEK in Q3 (up from 3.6 MSEK); EPS: 0.17 SEK (up from 0.12 SEK).

• Nine-month net sales: 1,346 MSEK (up 5.2%); EBITDA: 8.8 MSEK (margin 0.65%); net income after tax: 5.9 MSEK.

• Cash and equivalents at period end: 101 MSEK, up 29 MSEK year-over-year.

Outlook and guidance

• October saw the highest monthly sales ever, supporting a positive outlook for the remainder of 2025.

• Continued focus on cost control and efficiency, especially in international operations.