Safestate Group (STATE) Q3 2026 earnings summary

Executive summary

• Gross ARR on secured agreements reached MSEK 115, up 67% YoY; Q3 sales rose 27% and adjusted EBITDA increased 40% YoY to KSEK 7,695, with a 54% margin.

• Partner rollouts began late in Q3; management expects revenue to step up from Q4, with this year’s signings contributing over the next two to three quarters.

Financial highlights

• Q3 net sales were KSEK 14,228 vs. KSEK 11,172 YoY; 9M sales were KSEK 40,949 vs. KSEK 29,814, up 37%.

• Q3 EBITDA was KSEK 6,477 vs. KSEK 4,409; adjusted for restructuring costs, EBITDA was KSEK 7,695 vs. KSEK 5,507.

• 9M EBITDA was KSEK 17,419 vs. KSEK 7,281; adjusted for restructuring costs, it was KSEK 21,356 vs. KSEK 14,870.

• Net loss was KSEK 4,064 in Q3 vs. KSEK 901 and KSEK 10,663 for 9M vs. KSEK 8,095; EPS was SEK -0.10 and SEK -0.27, respectively.

Outlook and guidance

• Management expects the revenue step-up to begin in Q4, with the full impact of 2026 partner signings emerging over the following two to three quarters.

• New products are planned for launch, with distribution potential through partners’ existing customer bases.