Kontigo Care (KONT) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 was 7.1 MSEK, down 6.9% year-over-year, with MRR at 2.31 MSEK, a decrease of 8.4% from Q1 2024 and 6.6% sequentially.

• EBIT was -0.6 MSEK (margin -7.9%), compared to 0.2 MSEK (2.6%) in Q1 2024; net result was -0.5 MSEK or -0.02 SEK per share.

• The company maintains a leading position in the Swedish municipal market, but license volumes fell from 880 to 832 due to economic headwinds.

• Strategic focus is on scaling MDR-certified MedTech solutions in Europe, with ongoing clinical studies and new partnerships.

Financial highlights

• MRR at quarter-end was 2.31 MSEK, down 8.4% year-over-year and 6.6% from Q4 2024.

• Revenue was 7.1 MSEK, a 6.9% decrease from Q1 2024; Sweden contributed 6.7 MSEK, Finland 0.3 MSEK, Netherlands 0.1 MSEK.

• Gross margin was 84.7% (85.9% in Q1 2024); EBIT -0.6 MSEK, net result -0.5 MSEK.

• Free cash flow was -3.3 MSEK, mainly due to investments in product development and hardware.

• Cash position at quarter-end was 17.9 MSEK, with loans at 3.0 MSEK, resulting in a net cash position of 14.9 MSEK.

Outlook and guidance

• No formal forecasts provided; management notes longer sales cycles and continued macroeconomic challenges affecting municipal budgets.

• Focus remains on expanding in Europe and leveraging MDR certification for growth.