Tessin Nordic (TESSIN) Q3 2025 earnings summary

Executive summary

• Net revenue for Q3 2025 was 1.4 MSEK, down 75% year-over-year; for Jan–Sep 2025, revenue was 9.4 MSEK, a 48% decrease year-over-year.

• EBITDA for Q3 was -8.5 MSEK and for Jan–Sep -24.9 MSEK; EBIT for Q3 was -9.4 MSEK and for Jan–Sep -27.9 MSEK.

• Net loss for Q3 was -11.0 MSEK and for Jan–Sep -36.1 MSEK; EPS for Jan–Sep was -0.08 SEK (vs. -0.04 SEK year-over-year).

• Loan volume mediated in Q3 was 14.3 MSEK (down from 61 MSEK); for Jan–Sep, 132.3 MSEK (down from 173 MSEK).

• Cost-saving program completed, expected to reduce annual expenses by 5 MSEK, with effects from Q4 2025.

Financial highlights

• Q3 net revenue: 1.4 MSEK (5.7 MSEK prior year); Jan–Sep: 9.4 MSEK (17.9 MSEK prior year).

• Q3 EBITDA: -8.5 MSEK (-7.5 MSEK prior year); Jan–Sep: -24.9 MSEK (-15 MSEK prior year).

• Q3 EBIT: -9.4 MSEK (-8.3 MSEK prior year); Jan–Sep: -27.9 MSEK (-17.7 MSEK prior year).

• Q3 net loss: -11.0 MSEK (-7.5 MSEK prior year); Jan–Sep net loss: -36.1 MSEK (-15.5 MSEK prior year).

• Cash flow from operations Jan–Sep: -32.6 MSEK; cash at period end: 22.4 MSEK (15.8 MSEK prior year).

Outlook and guidance

• Positive signals of increased project inflow after Q3; new organization and cost controls in place.

• Management aims for profitability on a monthly basis by end of 2025.