Trainimal (TRML) Q1 25/26 earnings summary

Executive summary

• Achieved positive EBITDA and net profit in Q1, traditionally the weakest quarter, indicating improved operational efficiency and cost control.

• Margins and liquidity improved, with a slimmed cost base and strong subscription business performance.

• Price adjustments contributed to better results without significant customer loss; capacity exists to scale customer base without major cost increases.

• Ongoing product development includes expansion into medical weight loss and new supplement offerings.

Financial highlights

• Net revenue increased 1.6% year-over-year to 2,670 TSEK in Q1.

• Operating income improved to 75 TSEK from -429 TSEK; EBITDA rose to 727 TSEK from 159 TSEK.

• Net profit before tax reached 50 TSEK, up from -439 TSEK; EPS was 0.02 SEK compared to -0.19 SEK.

• Cash flow from operations before working capital changes was 702 TSEK, up from 149 TSEK.

• Cash flow from operations totaled 1,248 TSEK, up from 451 TSEK.

Outlook and guidance

• Management expresses confidence for the rest of the year, citing improved Q1 results and capacity for customer growth without significant cost increases.

• No explicit forward-looking financial guidance provided.