Sonetel (SONE) Q1 2026 earnings summary

Executive summary

• Active paying customers grew by 54% year-over-year to nearly 34,000, with SaaS40 at 40% for Q1 2026.

• New mobile apps for iOS and Android completed, pending Apple approval, expected to enhance customer experience.

• Structural cost savings initiated, with full effect expected from Q3 2026, including a 28% staff reduction in India.

• Customer acquisition cost (CAC) dropped significantly to 47 SEK from 162 SEK year-over-year.

Financial highlights

• Annual recurring revenue (ARR) increased by 15% year-over-year to 25.9 MSEK.

• Net revenue rose 12% to 7.5 MSEK compared to Q1 2025.

• Gross margin was 77%, down from 80% in the prior year.

• EBITDA margin was 28%, compared to 38% last year.

• Operating income was 0.0 MSEK, down from 0.6 MSEK; net income after tax per share was -0.05 SEK (0.03 SEK last year).

Outlook and guidance

• Q2 2026 expected to remain weak year-over-year due to the prior year’s temporary customer spike from the Skype shutdown.

• Focus remains on rolling out the customer portal, outbound SMS, and new AI-based call recording and analytics features.

• Ongoing efforts to improve conversion and reduce churn.