Pricer (PRIC) Q4 2025 earnings summary

Executive summary

• Q4 2025 saw the highest order intake of the year, with strong customer activity and new contracts in the US, Netherlands, and Norway.

• Full-year profitability was achieved, with positive EBIT and net profit, despite lower sales and price pressure, especially in Europe.

• Major customer wins included IBM Federal/DeCA, Merchants Distributors, NorgesGruppen, Coop Norge, and PLUS Retail.

• Commercial launch of Pricer Avenue at the NRF Show, with first deployments and pilots expected in Q2 2026.

• Geopolitical and macroeconomic uncertainties continue to impact near-term retail investments.

Financial highlights

• Q4 net sales: SEK 572.6M (down from 630.0M YoY); full-year net sales: SEK 2,147.9M (down from 2,558.0M YoY).

• Q4 gross margin: 22.7% (down from 24.2% YoY); full-year gross margin: 22.2% (up from 22.0% YoY).

• Q4 operating profit (EBIT): SEK 19.8M (down from 50.8M YoY), impacted by a SEK 5M one-off VAT cost.

• Full-year operating cash flow: SEK 179.9M (up from 58.0M YoY), mainly due to inventory reduction.

• Available cash at year-end: SEK 308.1M–458M; net cash position of SEK 8.1M.

Outlook and guidance

• Book-to-bill ratio above one, indicating more orders than net sales.

• Initial customer installations of Pricer Avenue expected in Q2 2026.

• Increased customer engagement and formal procurement processes expected to create new opportunities in the US and Europe in H2 2026.

• No formal forecast for 2026 provided; management expects long-term growth from digitalization and automation.

• Continued focus on recurring revenue growth and migration to the Plaza SaaS platform.