Senzime (SEZI) Q4 2025 earnings summary

Executive summary

• Achieved over 90% revenue growth in constant currencies for 2025, reaching 111.4 MSEK in sales, with strong Q4 momentum and major wins in the US, Europe, and Asia.

• Transitioned to a sensor-driven business, with sensors now over 70% of sales and recurring sales of disposable sensors increasing to over 440,000 units in 2025.

• Launched next-generation TetraGraph system and EMGINE software suite, driving higher adoption and workflow improvements.

• Underlying gross margin improved to 66.7% for the year, despite negative impacts from US tariffs, currency effects, and a one-time SEK 10.7 million inventory write-down.

• Adjusted EBITDA improved by 16% year-over-year, with a clear path toward profitability and positive cash flow targeted for Q4 2026.

Financial highlights

• Full-year reported revenues grew to 111.4 MSEK, with Q4 revenues up 125% in constant currencies to 31.2 MSEK.

• Q4 underlying gross margin reached 69.3%, and full-year margin was 66.7%.

• Adjusted EBITDA for 2025 improved to SEK -88,374k from -105,507k in 2024, a 16% improvement.

• Operating expenses increased only 1.9% year-over-year despite significant commercial investments.

• Ended the year with SEK 74 million in cash.

Outlook and guidance

• Targeting continued strong sales growth and positive cash flow by Q4 2026.

• Expecting further gross margin improvements through price increases and new business models.

• Long-term ambition to exceed SEK 1 billion in revenues by 2030.

• Focus for 2026 is on maintaining strong sales growth, fixed expenses, and further gross margin improvement.