Nexcom (NEXCOM) Q4 2025 earnings summary

Executive summary

• Revenue declined to MDKK 7.7 in 2025 from MDKK 9.9 in 2024 due to client churn and delays in new contracts and deployments.

• EBITDA decreased to MDKK -9.0 from MDKK -5.6 year-over-year, reflecting lower revenue and higher staff costs.

• Two new customer agreements were secured with a total annual contract value of MDKK 3.5.

• Leadership team strengthened with new COO and Chief Data & AI Officer appointments.

• Debt of MDKK 4.3 was converted into equity, improving the capital structure.

Financial highlights

• Group revenue: MDKK 7.7 in 2025 (2024: MDKK 9.9).

• EBITDA: MDKK -9.0 in 2025 (2024: MDKK -5.6).

• Net loss: MDKK -16.6 in 2025 (2024: MDKK -16.6).

• Staff costs increased to MDKK 11.3 from MDKK 9.2 year-over-year.

• Cash and cash equivalents at year-end: MDKK 0.1.

Outlook and guidance

• Revenue for 2026 expected between MDKK 10.0 and MDKK 12.0.

• EBITDA for 2026 forecasted between MDKK -4.0 and MDKK -2.0.

• Management targets EBITDA profitability by Q4 2026.

• Cost savings program initiated, with MDKK 2 in savings expected to impact 2026.

• Recurring revenue base to increase by approx. MDKK 3.0 annually from new agreements.