Nexar Group (NXAR) Q4 2025 earnings summary

Executive summary

• Revenue for Q4 2025 was 0 KSEK, unchanged from Q4 2024; full-year 2025 revenue was 67 KSEK, down from 124 KSEK in 2024.

• Net loss for Q4 2025 improved slightly to -1,205 KSEK from -1,222 KSEK in Q4 2024; full-year net loss worsened to -4,737 KSEK from -3,601 KSEK, mainly due to costs in Nigeria for the 2026 season.

• Key projects include delayed TV production in Nigeria, terminated Asian partnership, and new agreements in Africa and the Middle East.

Financial highlights

• Net loss per share for 2025 was -0.07 SEK, compared to -0.11 SEK in 2024; equity per share increased to 0.06 SEK from 0.04 SEK.

• Group equity at year-end was 3,972 KSEK (up from 1,353 KSEK); group solidity improved to 17% from 5%.

• Cash flow from operations for 2025 was -4,888 KSEK, compared to -2,351 KSEK in 2024.

• Investments of 331 KSEK were made, mainly in spin-off programs for Football Dreamz.

Outlook and guidance

• TV program Football Dreamz in Nigeria is set to begin filming in April 2026, with a five-year broadcast agreement on NTA starting November 2026.

• Scouting programs in Nigeria will expand to 14 states from May 2026.

• Ongoing negotiations with TV networks in the Middle East and Africa for further expansion.