Rolling Optics (RO) Q4 2025 earnings summary

Executive summary

• Revenue for Q4 2025 was 12,147 TKR, down 13% year-over-year; full-year revenue increased 1% to 39,849 TKR compared to 2024.

• Net loss for Q4 was -4,331 TKR, and for the full year -23,946 TKR, a significant increase from -9,291 TKR in 2024.

• Order intake and backlog declined sharply, with year-end order backlog at 8,556 TKR versus 20,346 TKR last year.

• Major strategic focus on product development and process optimization in both Brand Protection and High Security segments.

Financial highlights

• Operating cash flow for Q4 was -2,196 TKR (5,399 TKR in Q4 2024); full-year operating cash flow was -27,029 TKR (-2,248 TKR in 2024).

• Cash at year-end was 18,812 TKR, down from 36,017 TKR a year earlier.

• Equity at year-end was 66,966 TKR (71,997 TKR in 2024); equity ratio improved to 69.3% from 65.9%.

• Result per share for the year was -0.09 SEK (-0.04 SEK in 2024).

• No dividend proposed for 2025.

Outlook and guidance

• Board assesses that current liquidity is sufficient for at least the next 12 months.

• Continued investments in production systems and IP expected to support long-term growth.