Zenergy (ZENZIP) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 increased to 3,776 KSEK from 3,418 KSEK year-over-year, mainly due to acquisitions and the Skillingaryd factory resuming production.

• Net loss for Q3 2025 improved to -6,297 KSEK from -8,744 KSEK in Q3 2024, reflecting better operational efficiency.

• The company continues its restructuring, shifting focus to new project startups and ramping up factory capacity.

Financial highlights

• Nine-month revenue rose to 18,000 KSEK from 4,881 KSEK year-over-year.

• Net loss for the nine-month period widened to -20,384 KSEK from -14,802 KSEK.

• Gross margin and coverage contribution turned negative for the period, with a nine-month coverage contribution of -4,090 KSEK.

• Total assets decreased to 28,821 KSEK from 44,738 KSEK year-over-year.

• Equity fell to 1,775 KSEK from 15,810 KSEK, and cash at period end was 5,324 KSEK.

Outlook and guidance

• Market activity is increasing, especially in residential projects, with more inquiries but no new contracts yet.

• The company is well positioned for future growth with a strengthened project portfolio and ongoing ramp-up of production.