Invoicery Group (FRILAN) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 2.2% YoY to SEK 459.2M; EBIT was flat at SEK 5.5M, while 9M EBIT more than doubled to SEK 14.9M after cost efficiencies and revenue growth.

• Swedish self-employment and international markets grew; lower demand from a major Swedish B2B customer weighed on Workforce Management.

Financial highlights

• Q3 revenue was SEK 459.2M vs SEK 448.6M; EBITDA SEK 6.1M vs SEK 6.3M; EBIT SEK 5.5M vs SEK 5.5M.

• Q3 net income was SEK 4.9M vs SEK 4.8M; EPS was SEK 0.17 in both periods.

• 9M revenue rose 3.5% to SEK 1,392.6M; EBITDA was SEK 16.8M vs SEK 8.8M and EBIT SEK 14.9M vs SEK 6.5M, up 129%.

• 9M net income increased to SEK 13.4M from SEK 5.9M; EPS was SEK 0.46 vs SEK 0.20.

Outlook and guidance

• Strategic focus remains profitable growth, international expansion, and scaling shared technology, administration, and expertise across European markets.

• The EU Platform Work Directive may increase demand for Workforce Management services as employer-responsibility and compliance requirements evolve; implementation is due by 2 Dec 2026.

• Automation and process efficiency work continued; an AI pre-study examined handling more Frilans Finans customer-service cases through AI.