TagMaster (TAGM) Q3 2025 earnings summary

Executive summary

• Net sales grew 32.5% year-over-year in Q3 2025 to SEK 112.4 million, with organic and currency-adjusted growth at 0.1%.

• Profitability improved: adjusted EBITDA rose to SEK 18.6 million (margin 16.6%), and operating profit reached SEK 9.9 million (margin 8.8%).

• Profit for the quarter was SEK 7.7 million, reversing a loss of SEK 7.5 million in Q3 2024.

• Growth and margin gains were driven by the Quercus acquisition and efficiency programs.

Financial highlights

• Net sales for Jan–Sept 2025 increased 18.4% to SEK 339.6 million; currency-adjusted growth was -5.5%.

• Adjusted EBITDA for Jan–Sept 2025 was SEK 38.3 million (margin 11.3%), up 79.3% year-over-year.

• Operating profit for Jan–Sept 2025 was SEK 8.3 million, up from a loss of SEK 5.9 million.

• Earnings per share for Jan–Sept 2025 were SEK 0.49, compared to a loss of SEK 0.64 per share.

• Cash flow from operating activities for Jan–Sept 2025 was SEK 42.8 million.

• Gross margin improved to 69.6% in Q3 and 68.6% for Jan–Sept 2025.

Outlook and guidance

• Management remains optimistic about long-term growth, focusing on organic expansion and acquisitions.

• The company is positioned to benefit from increased demand for smart mobility and transport solutions, despite global economic uncertainty and cautious market sentiment.

• Full effect of cost savings from efficiency programs expected from late Q4 2025.