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QleanAir
QleanAir (QAIR) investor relations material
QleanAir Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary6 Feb, 2026
Executive summary
Q4 2025 net sales reached SEK 113 million, up 9.1% year-over-year and 20.4% in constant currency, with strong cash generation and margin improvements.
Cleanroom and industrial solutions were key growth drivers, with new solutions addressing critical industry needs.
Geographical sales split: Europe 49%, Japan 40%, US 11% in Q4.
Net debt reduced to SEK 118.6 million, and EPS rose to SEK 0.87 per share for Q4.
No dividend proposed for 2025, prioritizing reinvestment and financial stability.
Financial highlights
Q4 revenue was SEK 113 million; currency-adjusted SEK 125 million (20% increase); recurring revenue SEK 67 million.
Gross margin improved to 70.5% in Q4, and EBIT margin rose to 13.1% from -5.3% a year earlier.
Operating cash flow for Q4 was SEK 25 million; full-year operating cash flow SEK 80.1 million.
Equity-to-assets ratio improved to 38%.
EPS for Q4 was SEK 0.87 (vs. -0.31), and for the full year SEK 1.88 (vs. -0.10).
Outlook and guidance
Management targets 10% annual organic growth and 15-20% operating margin in the medium term.
Stable development expected in cabin solutions in Japan for 2026, with new sales offsetting lower renewals.
Cleanroom business in the US anticipates double-digit growth in 2026, with a strong backlog but Q1 impacted by project delays.
Value engineering projects in air cleaners and cabins to yield benefits in H2 2026.
Continued focus on sales efficiency, customer focus, and cost control to drive operational excellence.
What drove the significant net debt reduction?
New products' impact on Q4 sales and strategy?
What is the recurring revenue churn rate trend?
Cleanroom project delay impact on 2026
New products' share of air cleaner unit sales
Rationale for no dividend despite strong cash flow?
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Next QleanAir earnings date
Q1 202612 May, 2026
QleanAir
Next QleanAir earnings date
Q1 202612 May, 2026
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Frequently asked questions
QleanAir is an innovative company offering solutions, cleanrooms and units for protection against smoke, pollution and virus spread. We have developed modern air cleaners which are the most efficient, reliable, easy-to-use and environmentally friendly on the market. Our modular system platform (Xstream) increases efficiency and reduces development costs. Xstream is used for increasing indoor air quality in public environments such as trains, planes, airports and offices. The air cleaner also functions as a cleanroom for indoor virus spreading prevention in environments such as hospitals and laboratories as well as being used in private homes. QleanAir AB was founded in 1988 and is headquartered in Solna, Sweden.
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