PixelFox (PIXEL) Q4 2025 earnings summary

Executive summary

• Net sales for 2025 reached SEK 86.8 million, up 84% year-over-year from SEK 47.0 million, with Q4 net sales at SEK 36.2 million, up from SEK 12.2 million in Q4 2024.

• EBITDA for 2025 was SEK 5.1 million, up from SEK 3.1 million in 2024; Q4 EBITDA was SEK 1.4 million, up from SEK 0.9 million.

• Profit after financial items for 2025 was SEK 12.9 million, a significant increase from SEK 0.5 million in 2024.

• The company completed the acquisition of Smart Upsell AI and divested Userdesk to Medimi AB for SEK 19 million.

• All long-term interest-bearing debt was repaid, and the company enters 2026 with a debt-free balance sheet.

Financial highlights

• Earnings per share for 2025 were SEK 0.35, up from SEK 0.02 in 2024; Q4 EPS was SEK 0.01, unchanged year-over-year.

• Total assets increased to SEK 24.4 million at year-end 2025 from SEK 11.7 million at year-end 2024.

• Equity ratio improved to 91.4% at year-end 2025 from 68.0% at year-end 2024.

• Cash and cash equivalents at year-end 2025 were SEK 631,754, up from SEK 503,153 at year-end 2024.

Outlook and guidance

• Focus remains on developing high-potential businesses and assets, maintaining capital discipline, and pursuing value-creating investments.

• Continued momentum observed into Q1 2026, with emphasis on strengthening gross margin and growth.