iZafe Group (IZAFE-B) Q4 2025 earnings summary

Executive summary

• Transitioned to a recurring revenue model, with Q4 2025 net sales of 2,435 TSEK, entirely from license revenues, marking a shift from prior hardware-driven sales.

• Annual recurring revenue (ARR) at the start of 2026 is approximately 10 MSEK, in line with previous guidance.

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

• Launched new modular display and remote care system for Dosell post-quarter, enhancing product flexibility.

Financial highlights

• Q4 2025 net sales: 2,435 TSEK (Q4 2024: 2,345 TSEK); full year 2025: 5,991 TSEK (2024: 7,954 TSEK).

• EBIT for Q4 2025: -5,714 TSEK (Q4 2024: -5,697 TSEK); full year 2025: -16,783 TSEK (2024: -19,425 TSEK).

• EBITDA for Q4 2025: -3,888 TSEK (Q4 2024: -4,714 TSEK); full year 2025: -12,018 TSEK (2024: -15,495 TSEK).

• Net result for Q4 2025: -4,857 TSEK (Q4 2024: -5,908 TSEK); EPS: -0.01 SEK (Q4 2024: -0.02 SEK).

• Cash flow from operations Q4 2025: -2,940 TSEK (Q4 2024: -178 TSEK); cash at period end: 1,673 TSEK.

Outlook and guidance

• Entering 2026 with ARR of ~10 MSEK and a stable, scalable customer base.

• Focus for 2026 is on expanding the customer base and increasing penetration within existing clients.

• Strategic value seen in potential national procurement in Sweden, though not included in current forecasts.