SmartCraft (SMCRT) Q3 2026 earnings summary

Executive summary

• ARR reached SEK 554.5M, up 16.5% YoY; organic ARR growth accelerated to 7.8%, its highest quarterly rate since Q3 2024.

• Adjusted EBITDA-capex rose 21.4% to SEK 44.4M, with a 30.8% margin; the quarterly result was the highest since the 2021 IPO.

• Market conditions remained mixed, with clearer recovery in Sweden and subdued activity in Norway and the UK.

Financial highlights

• Q3 revenue increased 10.8% YoY to SEK 144.0M; organic revenue growth was 6.8%.

• Adjusted EBITDA rose 22.1% to SEK 56.5M, with margin up to 39.2% from 35.6%; operating profit rose 37.5% to SEK 35.6M.

• Q3 profit was SEK 35.7M, up 60.5% YoY; diluted and basic EPS were SEK 0.22 versus SEK 0.13.

• Subscription revenue rose 12.3% to SEK 130.9M, including 8.0% organic growth; recurring revenue was 97.5% of Q3 revenue.

• 9M revenue increased 7.2% to SEK 422.3M; Adjusted EBITDA rose 11.5% to SEK 158.9M and profit increased 20.5% to SEK 83.9M.

Outlook and guidance

• Priorities include sustaining organic ARR growth, commercial execution, completing shared systems and improving profitability; management expects no rapid market-demand improvement.

• The medium-term target remains 15–20% organic growth with margin expansion; management aims to improve growth and results during 2027.

• Enterprise restructuring is expected to generate ~SEK 15M in annual savings from 2027; OneSmartCraft benefits are expected mainly from 2027.

• LiveCosts is expected to grow profitably in the UK; its acquisition-period ARR growth of ~60% is not assumed to continue.