Realfiction (REALFI) Q4 2025 earnings summary

Executive summary

• Revenue declined sharply in 2025 as focus shifted from legacy displays to commercializing Directional Pixel Technology (DPT).

• A world-first multi-user 3D display demonstrator was completed, enabling three users to view different content simultaneously without glasses.

• Strategic review initiated to explore partnerships, joint ventures, or potential sale to accelerate DPT commercialization.

• Positive industry feedback on DPT, with ongoing collaborations in Taiwan and China.

Financial highlights

• Q4-2025 revenue: TSEK 1,652 (down 64% YoY); full-year 2025 revenue: TSEK 4,264 (down 77% YoY).

• Q4-2025 gross profit: TSEK 758 (margin 45.9%); full-year gross profit: TSEK 2,303 (margin 54.0%).

• Result after financial items: Q4-2025 TSEK -6,596; full-year TSEK -30,112.

• Cash flow from operating activities: Q4-2025 TSEK -710; full-year TSEK -19,711.

• Equity at year-end: TSEK 48,466.

Outlook and guidance

• Current cash resources expected to last until late summer 2026, factoring in early loan repayments.

• Strategic review aims to secure partnerships or funding to support commercialization and address liquidity needs.

• Ongoing development of larger DPT demonstrators (7-inch and 15-inch) to expand commercial applications.