Time People Group (TPGR) Q3 2025 earnings summary

Executive summary

• Revenue declined 32% year-over-year to 44.5 MSEK for the quarter and 30% to 136.5 MSEK for nine months.

• EBITDA was -3.5 MSEK (margin -7.8%) for the quarter and -7.5 MSEK (-5.5%) for nine months, reflecting continued negative profitability.

• EBIT was -9.3 MSEK for the quarter, including a 5.8 MSEK goodwill write-down; net loss after tax was -9.5 MSEK.

• New CEO Mikael Tjernlund appointed in January 2025, initiating sales and efficiency measures.

Financial highlights

• Net income after tax for the quarter was -9.5 MSEK, down from -1.0 MSEK year-over-year.

• Earnings per share for the quarter was -1.22 SEK, compared to -0.13 SEK last year.

• Cash flow from operations was 3.3 MSEK for the quarter, down from 5.3 MSEK.

• Goodwill amortization increased to 5.8 MSEK for the quarter and 8.9 MSEK for nine months.

• Average number of employees decreased 19% year-over-year to 116.

Outlook and guidance

• Management sees a challenging market but identifies growth opportunities in new sectors and regions.

• Focus on cross-subsidiary collaboration, sales initiatives, and efficiency improvements.

• Expansion planned into energy, e-health, construction, and defense sectors.