Avtech Sweden (AVT) Q4 2025 earnings summary

Executive summary

• Net sales for Q4 2025 rose 38.5% year-over-year, reaching a record high despite currency headwinds.

• Full-year 2025 net sales increased 38.1% to MSEK 47.4, with net earnings up 35.1% to MSEK 17.0.

• Growth driven by new customer contracts, product expansion, and upselling to existing clients.

• Board proposes a dividend of SEK 0.10 per share (approx. MSEK 5.6) for 2025.

Financial highlights

• Q4 2025 net sales: MSEK 12.9 (Q4 2024: MSEK 9.3); ARR at period end: MSEK 51.2, up 31.9% year-over-year.

• Q4 net earnings: MSEK 4.0, down 5.4% year-over-year due to higher personnel costs and a one-off SEK 1.1M R&D tax repayment.

• Full-year operating margin: 34.7%; Q4 operating margin: 29.1%.

• Cash flow for Q4 positive at MSEK 0.7; full-year cash flow MSEK 6.5.

• Equity ratio at year-end: 91.8%; cash and cash equivalents: MSEK 33.9.

Outlook and guidance

• Targeting increased revenue and reinvestment in 2026, with a focus on expanding the sales pipeline and accelerating deployments.

• New product features and integrations to be commercially ready in spring 2026.

• Organization prepared for further growth, including a move to a larger office.

• Ambition to maintain profitability and innovation, with a strong customer pipeline.