Trainimal (TRML) Q3 24/25 earnings summary

Executive summary

• Net sales for Q3 2024/2025 were 2,357 TSEK, down 10% year-over-year, with a reduced net loss and positive EBITDA.

• Cost control and efficiency measures led to improved cash flow and higher gross margins.

• Investments in app development slowed as core features were completed, with continued focus on backend stability.

• English-language app launch planned for April, with cautious market entry and no significant cost increase.

• Customer base growth driven by Trainimal Woman and social media, especially among women 45+.

Financial highlights

• Q3 net sales: 2,357 TSEK (2,619 TSEK prior year); operating result: -83 TSEK (-368 TSEK); EBITDA: 515 TSEK (87 TSEK).

• Net result before tax: -96 TSEK (-350 TSEK); EPS: -0.04 SEK (-0.15 SEK).

• Cash flow from operations: 434 TSEK (-353 TSEK); gross margin on subscriptions: 74.1% (56.6%).

• Nine months: net sales 7,640 TSEK (8,003 TSEK); EBITDA 1,248 TSEK (938 TSEK); net result before tax: -576 TSEK (-473 TSEK).

• Cash position at quarter end: 749 TSEK (1,187 TSEK); equity ratio: 60.6% (63.7%).

Outlook and guidance

• Targeting positive net income for full year 2024/2025, with continued cost discipline and selective investment.

• English-language app launch in April expected to have limited initial impact on revenue or costs.

• Marketing for UK market paused due to resource constraints; ready to resume when feasible.