Pexip (PEXIP) Q4 2025 earnings summary

Executive summary

• Annual recurring revenue (ARR) grew 16% year-over-year to USD 131 million, with Secure and Custom up 25% and Connected Spaces up 10%.

• EBITDA for Q4 was NOK 94.2 million, with full-year EBITDA at NOK 316 million, a 53% year-over-year increase.

• Free cash flow for Q4 was NOK 71.9 million, and NOK 354 million for the year, up 80% year-over-year.

• Launched Connect for Google Meet, enabling Google Meet hardware to join Teams meetings, resulting in 7,000 rooms closed in Q4 and nearly $1 million in new ARR.

• Maintained a solid financial position with increased free cash flow and no material debt.

Financial highlights

• Full-year 2025 revenue increased 10% to NOK 1,228 million, with a 26% EBITDA margin, up from 18% in 2024.

• Gross margin remained high at 92% for FY 2025.

• EBIT margin crossed 20% for the first time, ending at 21%.

• Profit after tax for Q4 was NOK 102.2 million; full-year profit after tax was NOK 248.3 million.

• Earnings per share for Q4 was NOK 1.00; full-year EPS was NOK 2.41.

Outlook and guidance

• Q1 2026 ARR expected in the range of USD 133–136 million, reflecting continued positive trends.

• Ambition to consistently deliver above Rule of 40 performance (ARR growth + EBITDA margin) and double-digit ARR growth.

• Dividend for FY 2025 recommended at NOK 4 per share, up from NOK 2.5 last year, subject to AGM approval.