Brilliant Future (BRILL) Q3 2025 earnings summary

Executive summary

• Achieved stable growth in a cautious market, with a focus on profitability and cost control.

• Product innovation advanced, including AI-driven conversation analysis and new employee survey tools.

• Strategic partnerships and brand repositioning initiatives are strengthening market position.

Financial highlights

• Q3 2025 net revenue increased by 2.3% year-over-year to 20,227 TSEK; total income up 1.9%.

• Q3 EBITDA rose 14.1% to 3,443 TSEK; adjusted EBITDA was 3,878 TSEK, excluding 435 TSEK in restructuring costs.

• Q3 EBIT improved 39.7% to 466 TSEK; adjusted EBIT was 901 TSEK.

• Q3 EPS was 0.04 SEK, up from 0.02 SEK.

• Cash flow from operations in Q3 was -5,644 TSEK, with cash at period end of 12,397 TSEK.

• ARR at quarter end was 74,697 TSEK, up 2.8% year-over-year.

• For Jan–Sep 2025, net revenue was 62,416 TSEK (+0.1%), total income 71,699 TSEK (-0.1%).

• Jan–Sep EBITDA was 3,451 TSEK (+50.9%), adjusted EBITDA 5,285 TSEK.

• Jan–Sep EBIT was -5,456 TSEK; adjusted EBIT -3,623 TSEK.

• Jan–Sep EPS was -0.38 SEK, improved from -0.40 SEK.

• Cash flow from operations for Jan–Sep was 4,395 TSEK.

Outlook and guidance

• Financial targets for 2026: ARR >90 MSEK, net revenue >95 MSEK, and positive EBIT margin, assuming organic growth and stable headcount.

• Continued focus on efficiency, cost control, and selective investment in growth initiatives.