Zenicor (ZENI) Q4 2025 earnings summary

Executive summary

• Achieved 11% year-over-year revenue growth in 2025, reaching the highest annual result to date.

• Positive net income for both Q4 and the full year, marking a turnaround from the previous year's loss.

• Growth driven by new and existing customer contracts, with a scalable business model based on per-case billing.

• Strengthened liquidity and reduced net debt through two share issues and cost efficiency measures.

Financial highlights

• Full-year revenue: 28,042 KSEK (up from 25,306 KSEK in 2024).

• Operating income for 2025: 2,229 KSEK (217 KSEK in 2024).

• Net income for 2025: 214 KSEK (compared to -2,084 KSEK in 2024).

• Q4 revenue: 8,136 KSEK (6,882 KSEK in Q4 2024); Q4 net income: 1,212 KSEK (625 KSEK in Q4 2024).

• Earnings per share for 2025: 0.01 SEK (-0.23 SEK in 2024); Q4 EPS: 0.05 SEK (0.07 SEK in Q4 2024).

Outlook and guidance

• Positioned for accelerated growth in 2026, supported by a strong order backlog and scalable business model.

• Focus on maintaining stable net debt and reinvesting operational surplus for growth.