Transiro (TIRO) Q1 2026 earnings summary

Executive summary

• Completed migration of all Colorama stores to the new cloud-based Nova BC platform, marking a major technology shift and foundation for future growth.

• Q1 2026 results reflect planned investments and temporary costs related to the migration, with underlying business stability.

• Focus shifts to commercial expansion of Nova BC to new retail chains and continued growth in the transport segment, especially in Norway.

Financial highlights

• Net revenue for Q1 2026 was 7.2 MSEK, down 8% year-over-year, mainly due to lower hardware sales and contract changes.

• EBITDA was -0.5 MSEK, EBIT was -0.7 MSEK, both negatively impacted by migration costs and lower retail revenue.

• Cash flow adjusted for delayed invoicing was -0.1 MSEK.

• Gross margin for the group was 78%; Klartext 97%, Nova BC 45%, Kassanova 95%.

• Annual Recurring Revenue (ARR) totaled 19.8 MSEK, with recurring revenue representing 69% of net sales.

Outlook and guidance

• All customers now operate on modern, scalable platforms, with a business model focused on recurring revenue.

• Next phase targets expansion through new customers and increased value per existing customer.

• Continued investments expected in Nova BC functionality and Norwegian transport market expansion.