Sileon (SILEON) Q1 2025 earnings summary

Executive summary

• Sileon sharpened its focus as a tech company, fully pivoting to BNPL SaaS after divesting Payments, accelerating development and organizational alignment.

• Entered a letter of intent for a reverse acquisition of Omnio, granting immediate international reach, mature BaaS infrastructure, and a proven loyalty platform, with Omnio to become majority owner.

• Integration with Areeba progressing rapidly, aiming for POC launches with two banks in Q2, supporting expansion into new markets.

• Raised a convertible loan of approximately 10 MSEK to cover short-term capital needs pending the Omnio transaction.

Financial highlights

• Q1 2025 revenue was 0.9 MSEK, down from 11.8 MSEK in Q1 2024, mainly due to the divestment of Payments.

• EBITDA for Q1 2025 was -5.6 MSEK (Q1 2024: -3.9 MSEK); EBIT was -10.6 MSEK (Q1 2024: -9.4 MSEK); net result was -11.1 MSEK (Q1 2024: -10.5 MSEK).

• For continuing operations, Q1 2025 revenue was 0.2 MSEK (Q1 2024: 0.0 MSEK); EBITDA -6.4 MSEK (Q1 2024: -9.7 MSEK); EBIT -11.4 MSEK (Q1 2024: -14.2 MSEK); net result -11.9 MSEK (Q1 2024: -13.2 MSEK).

• Cash flow from operations was -6.2 MSEK before and -10.4 MSEK after changes in working capital; total cash flow for the quarter was -13.1 MSEK.

• Cash and cash equivalents at March 31, 2025, were 3.6 MSEK (March 31, 2024: 10.0 MSEK); interest-bearing debt was 24.7 MSEK (March 31, 2024: 66.7 MSEK).

Outlook and guidance

• Management expects the Omnio transaction to create a strong platform for innovation and international expansion, targeting profitability in 2026.

• The board assesses that prospects for continued development and achieving set goals are good, provided additional financing is secured.