Transiro (TIRO) Q4 2025 earnings summary

Executive summary

• 2025 focused on structural strengthening, platform modernization, and refining the revenue base, not rapid sales growth.

• Entering 2026 with a modernized product portfolio, high share of recurring revenues, and a structure enabling operational leverage.

• Completed multi-year platform transition, established Nova BC as a new cloud-based platform, and strengthened recurring business in Klartext.

Financial highlights

• Full-year net sales: 28.5 MSEK (down from 31.2 MSEK year-over-year).

• Recurring annual revenues at year-end: ~18.8 MSEK, about 66% of total sales.

• Operating income (EBIT): 7.4 MSEK (vs. -2.4 MSEK prior year), positively impacted by a one-time 37 MSEK debt forgiveness.

• Cash flow for the year: -0.4 MSEK (vs. 4.8 MSEK prior year); cash at year-end: 8.2 MSEK.

• Q4 net sales: 6.9 MSEK (vs. 7.7 MSEK); Q4 operating result: -0.9 MSEK (vs. -0.8 MSEK).

Outlook and guidance

• No financial forecasts provided, but the business is now more focused, scalable, and predictable.

• Growth in 2026 to be driven by Klartext expansion in Norway, Nova BC rollout, and increased Kassanova/Garden sales.

• Emphasis on increasing recurring revenues, profitability, and operational leverage.