TH1NG (TH1NG) Q1 2025 earnings summary
Event summary combining transcript, slides, and related documents.
Q1 2025 earnings summary
6 Jun, 2025Executive summary
Q1 2025 marked by ongoing restructuring, expected to complete by mid-2025, with focus shifting to core IoT solutions.
Revenue declined sharply due to divestment of broadband business and reduced sales force.
Strategic review of IoT platforms initiated, including potential divestment of IoT Open.
Financial position remains strained; bridge loans secured to address short-term liquidity.
Financial highlights
Net revenue for Q1 2025 was SEK 2.0m, down from SEK 7.0m year-over-year.
Gross margin fell to 35.5% from 52.5% year-over-year.
EBIT for Q1 2025 was SEK -6.7m, compared to SEK -5.1m in Q1 2024.
Net loss for Q1 2025 was SEK -7.4m, versus SEK -5.3m in Q1 2024.
Total cash flow for the period was SEK -0.8m, compared to SEK 0.5m in Q1 2024.
Outlook and guidance
Restructuring to be completed by mid-2025, resulting in a streamlined IoT-focused business.
Sales expected to improve in H2 2025 following recruitment of new sales leadership.
Ongoing efforts to secure both short- and long-term financing.
