Dividend Sweden (DIV) Q3 2025 earnings summary

Executive summary

• Net sales for Q3 2025 were 1.3 MSEK, down from 3.2 MSEK in Q3 2024; for the first nine months, net sales rose to 9.0 MSEK from 7.5 MSEK year-over-year.

• Net result after tax for Q3 improved to -0.4 MSEK from -2.8 MSEK; for the nine months, it was -0.7 MSEK versus 14.2 MSEK last year.

• Result per share for Q3 was -0.00 SEK, and for the nine months -0.01 SEK, compared to -0.03 SEK and 0.15 SEK, respectively, last year.

• Portfolio company Evendo reached 1.2 million monthly users and strengthened its board with a former Google executive.

• Acquired a portfolio of pre-IPO shares in October, including Tecqool, Solifokus, and Co-Properties, paid with Dividend shares at a 59% premium to market price.

Financial highlights

• Operating income for the first nine months was -0.1 MSEK, down from 14.7 MSEK year-over-year.

• Equity at period end was 65.0 MSEK, down from 75.8 MSEK last year.

• Cash and cash equivalents increased to 2.7 MSEK from 1.4 MSEK year-over-year.

• Value of the securities portfolio at period end was 67.4 MSEK, compared to 71.7 MSEK last year.

• Vinstmarginal (profit margin) for the nine months was -8%, compared to 190% last year.

Outlook and guidance

• Management expects continued increased activity in the small-cap market, with more IPOs and transaction opportunities in the coming quarters.

• Noted positive development in portfolio companies, with further listings expected for Medicortex and Solifokus before year-end.