SpectrumOne (SPEONE) Q1 2025 earnings summary

Executive summary

• Q1 2025 marked by significant revenue decline due to partner rollout delays, subsidiary transformation, and end of a revenue share agreement.

• Strategic shift to SaaS model and preparations for separate QBIM/Q-Sales listing underway.

• Management remains optimistic, citing a strong balance sheet and recurring SaaS revenues.

Financial highlights

• Net sales for Q1 2025 were SEK 1.0 million, down from SEK 4.9 million year-over-year.

• EBITDA was SEK -2.8 million (Q1 2024: SEK -0.9 million); EBIT was SEK -9.5 million (Q1 2024: SEK -7.9 million).

• Earnings before tax stood at SEK -9.9 million, unchanged from Q1 2024.

• Gross margin dropped to 60.8% from 86.2% year-over-year.

• Earnings per share before dilution were SEK -0.02 (Q1 2024: SEK -0.03).

Outlook and guidance

• Major partner rollouts (PRISM with D&B and Tietoevry) delayed but pipeline building for offers before summer.

• QBIM's SaaS transition progressing, with separate listing targeted after summer.

• No dividend proposed for FY 2024.