eEducation Albert (ALBERT) Q1 2026 earnings summary

Executive summary

• Q1 2026 was positioned as an investment quarter, with increased marketing spend and a focus on profitable growth, resulting in the strongest cash position in over a year at SEK 57.6 million, up SEK 15 million from year-end.

• Net revenue for Q1 2026 was SEK 32.3 million, down 16% year-over-year, mainly due to the Strawbees divestment and lower acquisition volumes in H2 2025.

• EBITDA improved to SEK -3.7 million from SEK -6.7 million year-over-year, reflecting higher marketing investments with expected revenue impact in Q2.

• 96% of revenue is now recurring digital subscriptions, primarily from the Nordics and U.K., with a strategic focus on profitable growth.

• Deliberate reduction in unprofitable revenue streams and focus on higher-quality, sustainable growth.

Financial highlights

• Total Q1 2026 revenue was SEK 32.3 million, a 16% decrease year-over-year, mainly due to the Strawbees divestment and currency headwinds.

• Annual recurring revenue (ARR) from subscriptions was SEK 126.8 million, down 5% year-over-year.

• EBITDA margin improved to -11.4% from -17.3% year-over-year for the total group.

• Profit/loss for the period was SEK -13.4 million, an improvement from SEK -20.3 million year-over-year.

• Cash flow for the period was SEK 16.8 million, with an ending cash balance of SEK 57.6 million, up from SEK 42 million at the start of the year.

Outlook and guidance

• Full-year targets remain positive EBITDA and positive cash flow for 2026, with sequential improvements expected in the second half.

• Marketing investments are front-loaded in H1, with revenue and margin benefits anticipated in H2.

• Early signs from Q1 campaigns show improved trial-to-paid conversion rates, supporting future ARR growth.

• Commercial effects from Q1 marketing investments are anticipated in upcoming quarters.