SARSYS (SARS) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 increased to 42.4 MSEK from 41.1 MSEK year-over-year, with operating loss improving to -8.3 MSEK from -12.9 MSEK.

• Second half-year operating profit reached 0.5 MSEK, a turnaround from -4.9 MSEK, driven by cost adjustments and reduced staff.

• Net result after financial items for the year was -9.8 MSEK, compared to -14.2 MSEK the previous year.

• Goodwill amortization increased due to a revised useful life, impacting results but not cash flow.

• Major restructuring in subsidiary ASFT Industries AB led to a debt write-down of 18.6 MSEK, strengthening the cost base.

Financial highlights

• Full-year gross margin was 45% (down from 50%), affected by legacy projects and product mix.

• Earnings per share improved to -0.28 SEK from -1.11 SEK year-over-year.

• Equity per share at year-end was -0.16 SEK, up from -0.44 SEK.

• Cash and cash equivalents at year-end were 4.1 MSEK, up from 2.7 MSEK.

• Average number of employees decreased to 23 from 26.

Outlook and guidance

• Entering 2026 with a limited order backlog but improved competitiveness and cost structure.

• Focus for 2026 is on profitable growth, improved order intake, and continued operational efficiency.