eEducation Albert (ALBERT) Q1 2025 earnings summary

Executive summary

• Q1 2025 saw mixed results, with net revenue at 38,595k SEK, down 7% year-over-year, mainly due to B2B underperformance and US market headwinds, while B2C remained stable and Swedish operations were strong.

• EBITDA improved to -6,665k SEK from -12,766k SEK in Q1 2024, reflecting cost reductions and operational efficiencies.

• Annual recurring revenue (ARR) grew 6% to 136,745k SEK, with B2C ARR up 11% and B2B ARR up 1% year-over-year.

• Leadership transition completed, with a new CEO emphasizing simplification, commercial focus, and swift execution.

• Strategic review underway to prioritize profitable initiatives and streamline operations.

Financial highlights

• Net revenue for Q1 2025 was 38,595k SEK, down 7% year-over-year.

• EBITDA improved to -6,665k SEK, mainly due to lower sales and personnel costs after last year's restructuring.

• Cash flow from operating activities nearly doubled to 14,492k SEK, and cash at period end was 55,365k SEK.

• EBITA improved to -10,056k SEK (from -16,361k SEK), and net loss narrowed to -20,311k SEK.

• Earnings per share improved to -0.81 SEK (vs. -1.08 SEK year-over-year).

Outlook and guidance

• Targets remain positive EBITDA in 2025 and positive cash flow in 2026.

• No current plans to raise additional capital; SEK 55 million in cash and positive Q1 operating cash flow support the outlook.

• Ongoing review of all investments and cost lines to preserve liquidity and support financial goals.

• Initiatives to scale Albert Junior and reverse negative B2B trends in the UK and US.