ChargePanel (CHARGE) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 were 2,247 KSEK, down from 3,499 KSEK year-over-year due to a change in revenue recognition; recurring revenues grew by 22% year-over-year and 3% sequentially.

• EBIT improved to -2,791 KSEK from -3,108 KSEK year-over-year; net result after tax was -2,997 KSEK versus -3,365 KSEK.

• Over 50,000 EV drivers registered on the platform; connected charge points increased by 18% during the quarter.

• Ended the quarter with 7,630 KSEK in cash and 10 employees.

Financial highlights

• Adjusted net sales (excluding Fleet Management) for Q1 2025 were 1,944 KSEK.

• Cash flow from operations was -3,972 KSEK, an improvement from -5,311 KSEK year-over-year.

• Equity at period end was 8,620 KSEK, up from 5,163 KSEK year-over-year.

• Result per share improved to -0.08 SEK from -0.21 SEK year-over-year.

Outlook and guidance

• Recurring revenue growth expected to accelerate in Q2 as new contracts begin contributing.

• Target to add 45,000 charge points in 2025, with 17,820 reached by Q1 end and full migration of 24,000 points from KG Knutsson expected by Q4.