BIMobject (BIM) Q1 2025 earnings summary

Executive summary

• CEO transition completed with non-recurring costs recognized; recruitment for a permanent CEO is ongoing and interim management is in place.

• Strategic transformation continues, focusing on validating, implementing, and growing a scalable ecosystem and AI-driven solutions for product data in the construction industry.

• Acquisition or intent to acquire GreenMetrica AB and Lumea AI Platform AB to strengthen AI capabilities and product development.

• Net sales increased 10% year-over-year to MSEK 43.4, with recurring revenue representing 80% of total sales.

• ARR in constant currencies grew 7% year-over-year to MSEK 136.1, but growth slowed due to higher churn and downgrades.

Financial highlights

• Net sales: MSEK 43.4 (39.6), +10% year-over-year; recurring revenue: MSEK 34.6 (32.1), +8%.

• EBITDA: MSEK -18.1 (-7.7); EBIT: MSEK -20.2 (-9.9); EPS: SEK -0.15 (-0.04).

• Liquid assets remain strong at nearly SEK 200 million; cash and cash equivalents: MSEK 65.2 (58.4); short-term investments: MSEK 131.2 (165.2).

• Personnel costs increased to MSEK 42.5 (33.7) due to new hires and non-recurring items.

• Equity/assets ratio at 58% (65%); no loans from credit institutions.

Outlook and guidance

• No specific profitability guidance provided; continued heavy investment in new products and AI solutions to drive long-term growth.

• Commercial impact from new solutions expected to materialize towards year-end and beyond.

• Preparing EandoX product for scale-up and go-to-market during the year.

• Board and management remain confident in the company’s growth trajectory and strategy.