Mdundo.com (MDUNDO) Q4 25/26 earnings summary

Executive summary

• FY 2025/26 revenue fell 24.5% to DKK 8.3m, while EBITDA loss narrowed 75.3% to DKK 1.4m; both were within guidance.

• Cost reductions and direct-payment growth supported progress toward profitability, but direct volumes remained too small to offset declining telco revenue.

Financial highlights

• Revenue was DKK 8.3m vs DKK 11.0m in FY 24/25; gross profit before other external expenses was DKK 4.9m, down 6.2%.

• EBITDA was DKK -1.4m vs DKK -5.5m; total OPEX declined 42.0% to DKK 6.2m from DKK 10.7m.

• Operating cash flow improved to DKK 2.5m from DKK -2.6m; year-end cash was DKK 9.1m, including DKK 0.25m classified under receivables.

Outlook and guidance

• FY 2026/27 revenue guidance is DKK 8.0–10.0m and EBITDA guidance DKK -1.0m to DKK 0.0m; cash guidance is DKK 6.5–7.5m vs DKK 8.8m.

• Management expects EBITDA break-even between Q4 FY 2026/27 and Q1 FY 2027/28; at FY 2025/26 cash burn of DKK 3.8m, cash covered ~28 months from June 2026.

• Priorities include growing direct subscribers, targeting diaspora and higher-income users, developing partner models and maintaining the cost base.