ABAS Protect (ABAS) Q4 2025 earnings summary

Executive summary

• Revenue for Q4 2025 was 24,622 TSEK, up 6% year-over-year, but full-year revenue declined 9% to 88,416 TSEK compared to 2024.

• Operating loss for Q4 was -2,904 TSEK, and for the full year -2,369 TSEK, reflecting significant operational challenges.

• The year was marked by customer acquisitions by larger players, a costly business system change, and internal restructuring.

• Cost-saving measures included a reduction in staff and a two-step reorganization, expected to yield savings from Q2 2026.

• The company enters 2026 with improved operational stability and a focus on efficiency and profitable growth.

Financial highlights

• Q4 gross margin was 29.5% (down from 41.5% in Q4 2024); full-year gross margin was 44.1% (down from 46.2%).

• Q4 net loss after tax was -2,185 TSEK (vs. -1,780 TSEK in Q4 2024); full-year net loss after tax was -3,393 TSEK (vs. 734 TSEK profit in 2024).

• Q4 EPS was -0.41 SEK; full-year EPS was -0.34 SEK.

• Cash and cash equivalents at year-end were 19 TSEK, with an unused credit facility of 677 TSEK.

• Full-year operating cash flow was -606 TSEK, with a positive financing cash flow of 3,240 TSEK.

Outlook and guidance

• Management expects cost savings from the reorganization to materialize from Q2 2026.

• The company is better positioned for 2026, focusing on efficiency, customer relations, and long-term growth.

• Market activity is high, and the new business system is now supporting improved delivery reliability.