Talenom (TNOM) Q4 2025 earnings summary

Executive summary

• 2025 was a year of major strategic transformation, marked by the separation of the Easor software business into an independent listed company, enabling a sharper focus on core financial administration and accounting services.

• Financial targets for 2025 were not met, with challenging market conditions in Finland and Sweden, but comparable revenue and EBITDA from continuing operations grew modestly.

• The new structure is expected to enhance operational efficiency, owner value, and long-term growth and profitability.

Financial highlights

• Full-year 2025 comparable revenue grew 1.8% to €107.6 million; total revenue from continuing operations was €109.1 million, up 3.2% year-over-year.

• Comparable EBITDA for 2025 was €19.0 million (17.6% margin); total EBITDA was €20.6 million (18.9% margin).

• Comparable operating profit (EBIT) for 2025 was €5.3 million (4.9% margin); net profit from continuing operations was €2.9 million, up 5.4%.

• Q4 2025 comparable revenue grew 1.9% to €24.4 million; Q4 EBIT was negative at -€1.7 million.

• EPS from continuing operations was €0.06 (unchanged year-over-year).

Outlook and guidance

• 2026 guidance maintained: revenue expected at €110–120 million and comparable EBITDA at €18–22 million for continuing operations.

• Growth is expected to be mainly organic, with 2025 acquisitions supporting revenue.

• Profitability improvements anticipated in Sweden and Spain due to unified operating models.

• The company targets over 10% annual revenue growth in the medium term.