EMB Mission Bound (EMB) Q3 2025 earnings summary

Executive summary

• Q3 2025 marked a pivotal phase with the completion of a major restructuring, aligning operations and technology for future scalability and efficiency.

• Revenue growth remained robust, up 54% year-over-year for Q3 and 121% for the first nine months, driven by service and technology access fees.

• Restructuring costs of SEK 8.6m in Q3 and SEK 12.4m YTD led to reported losses, but excluding these, the group would have posted significant income gains.

Financial highlights

• Q3 2025 revenue: SEK 40,293k (+54% YoY); Jan–Sep 2025 revenue: SEK 125,120k (+121% YoY).

• Q3 EBITDA: SEK 1,615k (down 53% YoY); Jan–Sep EBITDA: SEK 17,284k (up 665% YoY).

• Q3 operating loss: SEK (5,302k); Jan–Sep operating loss: SEK (2,577k), a significant improvement from prior year.

• Loss per share: SEK (0.02) for Q3; SEK (0.01) for Jan–Sep.

• Cash flow from operations: SEK 8,264k in Q3 (+102% YoY); SEK 25,953k YTD (+838% YoY).

• Closing cash balance: SEK 13,562k (+235% YoY).

Outlook and guidance

• Structural improvements from the restructuring are expected to yield visible benefits in cost optimization and operational execution from Q1 2026.

• Focus is shifting from restructuring to reinvestment in innovation and platform enhancement for long-term value creation.