Railway Metrics and Dynamics (RMDX) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 reached 2,652 TSEK, up from 617 TSEK in the prior year, driven by product and service sales rather than consulting.

• EBIT for 2025 was -10,366 TSEK, improving to -6,631 TSEK after adjusting for non-recurring emission-related costs.

• Significant commercial progress with new contracts, international pilots, and expansion of recurring TaaS revenue streams.

• Strategic focus on digitalization, international expansion, and scaling up production and sales.

Financial highlights

• Net sales for H2 2025 were 1,335 TSEK, with full-year sales at 2,652 TSEK, all from own products and services.

• EBIT for H2 2025 was -3,972 TSEK; EBITDA was -3,780 TSEK.

• Adjusted EBIT for 2025 was -6,631 TSEK, excluding 3.73 MSEK in emission-related costs.

• Result per share for 2025 was -0.20 SEK, or -0.13 SEK after adjustments.

• Cash and cash equivalents at year-end were 439 TSEK; equity totaled 164,764 TSEK.

Outlook and guidance

• Transition to quarterly reporting from January 2026.

• Anticipates scale-up phase with increased commercial deliveries and recurring revenue.

• Plans to reach positive cash flow by end of 2026, supported by ongoing capital raises.