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Nepa (NEPA) investor relations material
Nepa Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved fourth consecutive quarter of bookings growth, with total bookings up 10.1% year-over-year and ARR bookings increasing by more than 200%.
Underlying ARR grew by nearly 4% (SEK 4.7 million), excluding phased-out contracts and extraordinary churn.
Business transformation and cost-saving measures initiated in late 2024 have driven improved predictability, resilience, and a return to profitability in Q3 2025.
New brand tracking platform development and rollout of automated brand tracking architecture are underway, with full rollout planned for early 2026.
Temporary service disruption in Q3 led to extraordinary costs of 1.7 MSEK, but client impact was limited.
Financial highlights
Q3 2025 net sales declined 19.1% year-over-year to 48.9 MSEK, mainly due to phased-out contracts and extraordinary churn.
Subscription revenue showed underlying growth of +4%, but headline subscription revenue was down 23.4%.
Adjusted EBITDA less CAPEX reached SEK 0.4 million (0.8% margin), a significant improvement from negative H1 results.
Personnel costs reduced by 19% year-over-year; other external costs down 4% (excluding comparability items).
SEK 22 million in annual cost savings fully realized in Q3 through restructuring and operational streamlining.
Outlook and guidance
Strong bookings and underlying subscription revenue growth expected to continue into Q4 and 2026.
Fiscal year 2025 result expected to remain negative due to H1 losses, but business is positioned for sustainable profitable growth as transformation initiatives take effect.
No specific forward-looking ARR growth guidance provided, but focus remains on ARR and streamlined contract portfolio.
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