StrongPoint (STRO) Q4 2025 earnings summary

Executive summary

• Q4 2025 revenue grew 1% year-over-year to NOK 342 million (MNOK), with full-year revenue up 4% to NOK 1,359 million, driven by international growth offsetting Nordic declines.

• Recurring revenue increased 7% on a 12-month rolling basis to NOK 385 million, mainly from Order Picking licenses and service agreements.

• Q4 EBITDA was -NOK 5 million, but adjusted for NOK 7 million in one-off costs, EBITDA was NOK 2 million; full-year EBITDA improved to NOK 26 million, or NOK 33 million excluding one-off costs.

• Gross margin increased to 42% in Q4 and 43% for the year.

• Expanded partnerships and product launches, including ShopFlow Logistics rollout with EKO in Sweden and Vensafe pilots in the UK.

Financial highlights

• Q4 2025 revenue: NOK 342 million (+1% YoY); full-year revenue: NOK 1,359 million (+4% YoY).

• Recurring revenue for FY2025: NOK 385 million (+7% YoY).

• Q4 EBITDA: -NOK 5 million (NOK 2 million adjusted); full-year EBITDA: NOK 26 million (NOK 33 million adjusted).

• Cash flow from operations in Q4: +NOK 2 million; year-end cash: NOK 99 million.

• Net interest-bearing debt at year-end: NOK 61 million; equity ratio: 47%.

Outlook and guidance

• No short-term guidance provided; medium/long-term outlook positive due to expected tech investments by grocery retailers.

• Focus on international growth, rejuvenation of Nordic and Baltic markets, and expanding solution portfolio.

• Targeting healthy revenue growth and EBITDA margin above 10% in the long term.

• No dividend proposed for 2025 to prioritize funding for growth.