Klimator (KLIMAT) Q3 2025 earnings summary

Executive summary

• Achieved strong revenue growth and improved profitability in Q3 2025, with net sales up 70% year-over-year and a positive operating result for both the quarter and year-to-date.

• Growth driven by significant hardware deliveries and stable increase in recurring software license revenue, particularly in the Winter Maintenance segment.

• Business model emphasizes scalability and recurring revenues from software (SaaS), data (DaaS), hardware, and consulting.

Financial highlights

• Q3 2025 net sales: 9,389 KSEK (up 70% YoY); nine-month net sales: 24,041 KSEK (up 41% YoY).

• Q3 gross margin: 62% (down from 82% YoY) due to higher hardware sales; nine-month gross margin: 69% (down from 82%).

• Q3 operating profit (EBIT): 947 KSEK (vs. -31 KSEK YoY); nine-month EBIT: 87 KSEK (vs. -2,562 KSEK YoY).

• Q3 profit after tax: 846 KSEK (vs. -210 KSEK YoY); nine-month profit after tax: -329 KSEK (vs. -3,030 KSEK YoY).

• Cash and cash equivalents at period end: 9,786 KSEK (vs. 4,847 KSEK YoY); net cash: 3,850 KSEK (vs. -4,649 KSEK YoY).

• Cash flow from operating activities (nine months): -5,052 KSEK (improved from -9,017 KSEK YoY).

Outlook and guidance

• Anticipates continued growth in recurring software and data revenues, with hardware sales supporting future license revenue.

• Market interest in Dynamic and Adaptive Salting solutions is high, with commercial rollout expected in 2026 and significant growth in 2027.

• RSI and IoT road weather stations are becoming industry standards in winter maintenance.