Brilliant Future (BRILL) Q4 2025 earnings summary

Executive summary

• Stable development in Q4 2025 with nearly flat net sales and a 3.1% increase in ARR year-over-year.

• Organizational adaptation to a SaaS-based model continued, incurring one-time restructuring costs.

• New AI-driven conversation analysis product launched, targeting customer service functions.

Financial highlights

• Q4 2025 net sales: 23,077 TSEK, down 0.5% year-over-year; total revenues: 26,495 TSEK, down 0.7%.

• Full-year 2025 net sales: 85,920 TSEK, up 0.5%; total revenues: 98,621 TSEK, up 0.2%.

• Q4 EBITDA: 1,758 TSEK (down 38%); adjusted EBITDA: 3,526 TSEK (up 24%).

• Q4 EBIT: -1,399 TSEK; adjusted EBIT: 369 TSEK.

• Full-year EBITDA: 5,637 TSEK (up 11.5%); adjusted EBITDA: 9,239 TSEK.

• Full-year EBIT: -6,428 TSEK; adjusted EBIT: -2,826 TSEK.

• Q4 EPS: -0.10 SEK; full-year EPS: -0.48 SEK.

• Q4 operating cash flow: 5,449 TSEK; year-end cash: 14,390 TSEK.

Outlook and guidance

• 2026 targets: ARR above 90 MSEK, net sales above 95 MSEK, and positive EBIT margin, assuming organic growth and stable headcount.

• Focus on returning to growth, increasing ARR, and improving profitability in 2026.