PixelFox (PIXEL) Q1 2025 earnings summary

Executive summary

• Q1 2025 saw continued operational improvement, with net revenue rising 11% year-over-year to 16.3 MSEK and EBITDA increasing to 1.9 MSEK from 1.3 MSEK, driven by strong retail business and product development.

• Positive cash flow from operating activities reached 1.8 MSEK, supporting a strategy of organic growth and selective acquisitions.

• The divestment of Userdesk AB for 19 MSEK post-quarter exemplifies the focus on portfolio optimization and capital recycling.

Financial highlights

• Net revenue: 16.3 MSEK in Q1 2025, up from 15.4 MSEK in Q1 2024.

• EBITDA: 1.9 MSEK in Q1 2025, up from 1.3 MSEK year-over-year.

• Profit after financial items: 1.2 MSEK in Q1 2025, compared to 0.6 MSEK in Q1 2024.

• Earnings per share: 0.03 SEK in Q1 2025, up from 0.02 SEK in Q1 2024.

• Equity ratio improved to 68.0% from 63.8% year-over-year.

Outlook and guidance

• Stable positive cash flow enables strategic investments in financial instruments, new business areas, and joint ventures.

• Focus areas for 2025: product development within the Shopify ecosystem, profitable growth via acquisitions/divestments, and efficient capital allocation.

• Plans to broaden presence and seek synergies with other industries to drive sustainable growth.