iZafe Group (IZAFE-B) Q3 2025 earnings summary

Executive summary

• Transitioned to a fully recurring revenue model, with Q4 net sales of 2,435 TSEK, all from license revenues, and no hardware sales compared to the prior year.

• Annual recurring revenue (ARR) at the start of 2026 reached approximately 10 MSEK, meeting the communicated target.

• Expanded Nordic presence with new distribution agreements in Iceland and Norway, and consolidated Dutch operations.

• Launched new modular external display and remote care system for Dosell after the quarter, enhancing product flexibility.

Financial highlights

• Q4 net sales: 2,435 TSEK (2,345 TSEK in Q4 2024), entirely from recurring license revenues.

• Q4 EBIT: -5,714 TSEK (-5,679 TSEK in Q4 2024); Q4 EBITDA: -3,888 TSEK (-4,174 TSEK in Q4 2024).

• Q4 net result: -4,857 TSEK (-5,908 TSEK in Q4 2024); EPS: -0.01 SEK (-0.02 SEK in Q4 2024).

• Full-year net sales: 5,991 TSEK (7,954 TSEK in 2024); full-year net result: -16,839 TSEK (-20,509 TSEK in 2024).

• Cash and cash equivalents at year-end: 1,673 TSEK (2,150 TSEK at end 2024).

Outlook and guidance

• Entering 2026 with ARR of 10 MSEK and a stable, growing base.

• Focus for 2026 on expanding customer base and increasing penetration among existing customers.

• Ongoing ADDA procurement process in Sweden could provide further upside, but not included in current forecast.