NanoCap Group (NANOC) Q4 2025 earnings summary

Executive summary

• Q4 2025 showed significant operational improvement with a positive operating result of 1.4 MSEK compared to -0.6 MSEK in Q4 2024, confirming profitability in wholly owned operations.

• Full-year 2025 total revenue increased to 43.4 MSEK from 34.2 MSEK year-over-year, all organic growth.

• Result after financial items was -23.2 MSEK for 2025, mainly due to write-downs in MOBA Network.

• Improved financial position with increased liquidity (4.5 MSEK vs. 1.4 MSEK) and reduced debt.

Financial highlights

• Q4 revenue rose 46% year-over-year to 13.7 MSEK; operating profit reached 1.4 MSEK (Q4 2024: -0.5 MSEK).

• Full-year operating result was -0.1 MSEK (2024: -4.4 MSEK); net result per share for 2025 was -4.05 SEK (2024: -2.97 SEK).

• Group equity at year-end was 43.7 MSEK (2024: 62.6 MSEK); total assets 52.8 MSEK (2024: 72.8 MSEK).

• Cash flow from operations for the year was 650 KSEK, with year-end cash at 4.5 MSEK.

Outlook and guidance

• The industrial segment is profitable and generates positive cash flow, providing flexibility for new opportunities.

• No public financial targets or forecasts have been issued.

• Increased global uncertainty, especially due to geopolitical tensions, may lead to a more volatile market in early 2026.