Westpay (WPAY) Q1 2026 earnings summary

Executive summary

• Net sales increased by 5% year-over-year to MSEK 18.7, with recurring revenues up 10% to MSEK 12.8, representing 68% of total sales.

• EBITDA rose 30% to MSEK 3.6, and EBIT surged 298% to MSEK 1.2 compared to the same quarter last year.

• Net earnings declined to MSEK 0.1 from MSEK 0.8, mainly due to adverse currency effects.

• Cash flow from operating activities improved by 30% to MSEK 7.3.

• Strategic partnership with a leading European card acquirer announced, enabling direct transaction routing and DCC for merchants.

Financial highlights

• Gross profit reached MSEK 16.2, with a gross margin of 86% (down from 88% year-over-year).

• Adjusted EBIT for the quarter was MSEK 1.2 (compared to -1.1 in Q1 2025).

• Cash and cash equivalents at period end were MSEK 3.2, with available liquidity of MSEK 10.7.

• Equity ratio improved to 41% from 18% year-over-year.

• Investments in intangible assets totaled MSEK 2.2, and tangible assets MSEK 1.2.

Outlook and guidance

• Long-term targets updated: average annual ARR growth of 15% and EBIT margin of at least 10% over 3–5 years.

• Focus remains on scaling SaaS-driven growth, resilience, and long-term value creation.

• Management confident in liquidity and continued operations for at least the next 12 months.