Lime Technologies (LIME) Q4 2025 earnings summary

Executive summary

• Achieved profitable growth in Q4 and full year 2025, with Q4 net sales of MSEK 193.5 (up 5%) and full-year net sales of MSEK 739.8 (up 8%), maintaining a 25% EBITA margin.

• Software-related revenue grew 10% in Q4 and 13% for the year; recurring revenue reached 68% of total revenue.

• Strategic acquisitions and new customer wins, especially in Germany and the utility segment, supported growth and international expansion.

• Board proposes a dividend of SEK 4.5 per share, totaling SEK 60 million (54% payout ratio), to be distributed in two installments.

• Continued investments in AI, platform enhancements, and talent, with a focus on core verticals and efficiency.

Financial highlights

• Q4 net sales: MSEK 193.5 (up 5%); full-year net sales: MSEK 739.8 (up 8%).

• Q4 recurring revenue: MSEK 127.9 (up 9%); full-year recurring revenue: MSEK 501.0 (up 13%).

• Q4 EBITA: MSEK 49.0 (margin 25%); full-year EBITA: MSEK 182.7 (margin 25%).

• Adjusted EBITDA margin for Q4 was 25.3%, with LTM adjusted EBITDA at SEK 184.9 million.

• Basic EPS: SEK 2.40 for Q4, SEK 8.40 for the year.

Outlook and guidance

• Medium-term targets: annual net sales growth above 18% and EBITA margin above 25%.

• Focus on accelerating software growth, increasing ARR, and expanding in core verticals and geographies.

• Expect modest growth in expert services for 2026, with services continuing to decline as a share of total revenue.

• Continued investment in growth and talent, but at a slower pace.

• Management sees tentative signs of improved investment sentiment despite a challenging market.