Qlucore (QCORE) Q1 25/26 earnings summary

Executive summary

• Net sales for the first quarter were SEK 811k, a 52% decrease year-over-year due to a major customer not renewing licenses after internal cost cuts and reorganization.

• Operating result (EBIT) improved to SEK -6,552k from SEK -7,620k year-over-year.

• Net result for the period was SEK -6,619k, compared to SEK -7,529k in the prior year.

• A rights issue post-period injected SEK 14.5 million in liquidity, with a significant dilution effect.

• Focus during the period was on securing financing, expanding market presence, and implementing a cost-saving program exceeding 25%.

Financial highlights

• Net sales dropped 51.6% year-over-year to SEK 811k.

• Operating result (EBIT) margin improved to -193.6% from -278.3% year-over-year.

• EBITDA for the quarter was SEK -4,382k, up from SEK -6,470k last year.

• Cash flow from operating activities was SEK 1,926k, down from SEK 2,480k.

• Net cash flow was SEK 774k, compared to SEK -209k last year.

Outlook and guidance

• No formal market outlook or business performance forecast is provided.

• Cost-saving measures, including personnel reductions, are expected to take full effect in November.

• The liquidity injection from the rights issue is expected to ensure stable operations.