Oneflow (ONEF) Q4 2025 earnings summary

Executive summary

• ARR reached SEK 183.1 million for 2025, up 19% year-over-year when adjusted for currency effects, with net sales at SEK 171 million, a 26% increase.

• Net New ARR for Q4 was SEK 3.4 million, reflecting elevated churn and subdued expansion, with SEK 7 million in signed contracts to be recognized in future quarters.

• Profitability and operational efficiency are the main focus, with positive EBITDA in Q4 and a reduced cost base.

• ARR per FTE grew 46% year-over-year, reaching SEK 1.2 million.

• Expansion into North America began, with early growth and a 20% stake in a new entity.

Financial highlights

• Net sales for Q4 reached SEK 47 million, up 27% year-over-year; full-year net sales were SEK 171 million, up 26%.

• Gross margin stabilized at 93% throughout 2025.

• EBITDA margin positive at 16% in Q4; full-year EBITDA at SEK -2.4 million, margin at -1%.

• EBIT improved to SEK -5.2 million in Q4 and SEK -15.4 million for the year, with EBIT margin at -11% in Q4 and -13% for the year.

• Cash and cash equivalents at year-end were SEK 43.3 million.

Outlook and guidance

• Immediate priority is to achieve sustainable profitability with current funding.

• Long-term goal remains ARR growth above 30% and maintaining profitability.

• Continued investment in product development, especially AI and integrations, to support future growth.