Trainimal (TRML) Q1 26/27 earnings summary

Executive summary

• Net revenue for Q1 2026/2027 was 2,663 TSEK, nearly unchanged from Q1 2025/2026, despite a 4% increase in subscription sales and an 18% rise in supplement sales.

• Operating result declined to -205 TSEK from 75 TSEK year-over-year, mainly due to higher consulting costs and squeezed margins on supplements.

• EBITDA decreased to 518 TSEK from 727 TSEK, and net result before tax fell to -228 TSEK from 50 TSEK.

• Retention rate improved significantly to 81.8% from 66.1%, and average revenue per user (ARPU) rose 6.6% to 227 SEK.

Financial highlights

• Net revenue: 2,663 TSEK (2,670 TSEK Q1 2025/2026).

• Operating result: -205 TSEK (75 TSEK Q1 2025/2026).

• EBITDA: 518 TSEK (727 TSEK Q1 2025/2026).

• Net result before tax: -228 TSEK (50 TSEK Q1 2025/2026).

• Cash flow from operations: 395 TSEK (1,248 TSEK Q1 2025/2026).

Outlook and guidance

• Management expects continued stable operations, with liquidity and financing options deemed sufficient for ongoing business.

• AI integration is a strategic focus, with new features planned for both customers and white-label partners.