White Pearl Technology Group (WPTG) Q3 2025 earnings summary

Executive summary

• Achieved all main targets for the period, consolidating position as a high-margin Health IP company with consistent positive results since 2023 and a strategic pivot to higher-margin technology solutions focused on AI and proprietary IP.

• Nine-month revenue increased 61% year-over-year, with Q3 revenue up 52% year-over-year, indicating strong growth momentum.

• Transformation into a diversified technology group is progressing, with strong focus on Nordic market expansion and successful integration of new acquisitions.

Financial highlights

• Year-to-date revenue reached SEK 363 million, with a full-year target of SEK 417 million and an aim to surpass SEK 470–500 million; nine-month revenue growth was 61% year-over-year.

• Q3 EBITDA margin reached 21.7%, with a nine-month margin of 18%, both exceeding targets.

• Net margin at 10.7%, above the IT global average of 6-9%.

• Africa contributes just over 50% of revenue, with Sweden as the next largest contributor.

• Operating cash flow at ~13.5%, exceeding the 10% industry average.

Outlook and guidance

• Confident in meeting and potentially exceeding annual and 2025 revenue targets, with Q4 expected to see a larger contribution from Swedish operations.

• Projected to achieve 827 MSEK revenue and 17.1% EBITDA margin by 2028, with all interim targets on track.

• Conservative margin guidance maintained due to lower profitability in Nordic businesses, but overall group performance expected to remain strong.