Nodebis Applications (NODE) Q4 2025 earnings summary

Executive summary

• Revenue grew 60% year-over-year to 103,831 tkr, driven by both organic growth (20%) and the RIG acquisition in December 2024.

• Recurring contract revenue increased to 66% of total, up from 60% in 2024, improving predictability.

• The company ended the year with a strong liquidity position and no external interest-bearing debt.

• Strategic investments and restructuring costs impacted Q4 results, but position the company for future growth.

Financial highlights

• Full-year operating income rose to 5,377 tkr (1,154 tkr in 2024); adjusted operating income (excluding one-offs) was 8,202 tkr (1,154 tkr).

• Q4 operating income was -2,695 tkr (1,215 tkr in Q4 2024), impacted by 2.8 mkr in restructuring and one-time costs.

• Net income for the year was 4,193 tkr (2,635 tkr in 2024); Q4 net income was -2,258 tkr (452 tkr in Q4 2024).

• Earnings per share for the year increased to 0.48 kr (0.35 kr in 2024); Q4 EPS was -0.14 kr (0.03 kr in Q4 2024).

• Cash flow from operations was 17,324 tkr (7,607 tkr in 2024); available liquidity at year-end was 31,489 tkr (17,132 tkr in 2024).

Outlook and guidance

• The company aims to reach 165 mkr in revenue and 25 mkr in pre-tax profit by 2028, with a 15% margin target.

• Focus remains on organic growth, selective acquisitions, and maintaining a minimum annual dividend of 1.50 kr per share.

• Continued investments in digitalization, decision support, and identity verification services are planned.