White Pearl Technology Group (WPTG) Q4 2025 earnings summary

Executive summary

• Achieved 65% year-over-year revenue growth to SEK 510M and 72% EBITDA growth to SEK 86M for FY2025, with net profit after tax up 220% to SEK 69.1M.

• Growth was driven by both acquisitions (70% of revenue growth) and strong organic expansion (68% of profit growth), with successful integration and cross-selling across the group.

• Surpassed 2025 targets with significant increases in revenue, EBITDA, and EPS year-over-year.

• Europe, especially the Nordics, emerged as a key growth engine, now representing 29% of group revenue.

• The business model focuses on a scalable platform, recurring revenue, and proprietary IP, with a deliberate shift toward higher-margin segments.

Financial highlights

• Revenue increased 65% year-over-year to SEK 510 million, with Q4 revenue up 75% to SEK 147 million.

• EBITDA rose 72% to SEK 86.2 million, with margin up to 16.9% (+0.8pp YoY); Q4 EBITDA was SEK 20.6 million (+43% YoY).

• EPS surged 199% to SEK 2.44, with net profit after tax up 220% to SEK 69.1 million.

• Operating cash flow up 366% to SEK 70 million; cash position at year-end was SEK 72.6 million (+206%).

• Total equity increased 90.3% to SEK 235.3 million; total assets up 75% to SEK 329 million.

Outlook and guidance

• FY2026 revenue guidance raised to exceed SEK 620 million, reflecting strong organic growth and full-year impact of acquisitions.

• Confident in continued growth and margin improvement, with focus on Nordics and European market expansion.

• M&A remains a key growth engine, with disciplined approach prioritizing profitability and cash flow.

• Expect EBITDA margin to normalize in Q1 2026 after Q4 integration and provision costs.

• Focus remains on integrating 2025 acquisitions, accelerating European growth, and increasing recurring, IP-led revenue.