LumenRadio (LUMEN) Q4 2025 earnings summary

Executive summary

• Revenue for Q4 2025 was 66.4 MSEK, down 2.7% year-over-year, with organic growth of 3.7%.

• Full-year 2025 revenue was 242.9 MSEK, a decrease of 0.7% year-over-year, with organic growth of 3.8%.

• EBIT for Q4 was 11.8 MSEK (up from 5.8 MSEK), and for the year 24.3 MSEK (down from 28.6 MSEK).

• EBITDA margin improved to 23.7% in Q4 (from 14.0%), but declined to 16.3% for the year (from 17.9%).

• Net income per share after dilution was 0.75 SEK for Q4 and 1.36 SEK for the year.

Financial highlights

• Cash flow for Q4 was 17.9 MSEK (down from 21.4 MSEK); full-year cash flow was -8.3 MSEK (down from 34.5 MSEK).

• Cash and cash equivalents at year-end were 108.2 MSEK (down from 118.6 MSEK).

• Bruttomarginal for Q4 was 64.8% (up from 58.1%); for the year, 62.6% (up from 60.3%).

• Operating expenses increased due to a 20 MSEK goodwill impairment.

• Other operating income in Q4 included reversal of a previously recognized contingent consideration liability.

Outlook and guidance

• Management expects continued positive momentum in Lighting Control and stable gross margins due to product mix changes.

• A major smart metering order (5.7 million USD) will begin delivery in Q2 2026, supporting future revenue.

• No dividend proposed; profits to be reinvested for growth.