Bambuser (BUSER) Q1 2025 earnings summary

Executive summary

• Q1 2025 saw ARR at SEK 92.0 million, down 2% year-over-year at constant exchange rates and flat sequentially; SaaS net sales declined 14% year-over-year and 4% quarter-over-quarter to SEK 22.9 million.

• Major enterprise renewals with clients like Zara and L'Oréal were secured, reinforcing long-term strategic positioning despite slow headline revenue growth.

• The company is focusing on digital clienteling and omnichannel solutions, targeting large enterprise clients with complex adoption cycles.

Financial highlights

• Adjusted EBITDA was SEK -28.3 million, a 14% increase in losses year-over-year, with a margin of -123%.

• Free cash flow was SEK -28.2 million, with a margin of -123%, and cash balance at quarter-end was SEK 154.1 million, down 38% year-over-year.

• Gross margin improved to 84%, up 5 percentage points year-over-year, driven by lower hosting costs.

• Earnings per share was SEK -0.17, compared to SEK -0.13 a year ago.

Outlook and guidance

• Management maintains a positive full-year outlook, expecting Q2 ARR to be influenced by large enterprise deal cycles and some contract expirations.

• Strategic focus remains on partners ready to leverage the platform for future growth, with digital clienteling expected to contribute materially as engagements mature.