Flowscape Technology (FLOWS) Q4 2025 earnings summary

Executive summary

• Achieved first-ever positive full-year EBIT of 2.2 MSEK for 2025, up from -2.9 MSEK in 2024, driven by improved cost structure and increased recurring license revenues.

• Fourth quarter EBIT reached 1.4 MSEK, compared to 0.5 MSEK in the prior year.

• Annual recurring revenue (ARR) grew 10% to 37.5 MSEK, but total net sales declined slightly to 43.9 MSEK due to lower one-time revenues.

• Cash position at year-end was 6.2 MSEK, temporarily reduced by delayed customer payments, but rebounded to 12.4 MSEK by mid-February 2026.

• Major organizational transformation focused on sales, customer success, and R&D to accelerate growth and maintain profitability.

Financial highlights

• Net sales for Q4: 10,758 TSEK (down from 12,232 TSEK YoY); full year: 43,911 TSEK (44,178 TSEK YoY).

• EBITDA for Q4: 3,458 TSEK (2,625 TSEK YoY); full year: 10,543 TSEK (5,543 TSEK YoY).

• EBIT for Q4: 1,440 TSEK (458 TSEK YoY); full year: 2,172 TSEK (-2,905 TSEK YoY).

• Cash flow for the year: -4,474 TSEK (495 TSEK YoY); cash at year-end: 6,246 TSEK (10,720 TSEK YoY).

• Earnings per share for the year: 0.111 SEK (-0.148 SEK YoY).

Outlook and guidance

• Accelerating ARR growth is a top priority for 2026, with investments planned in sales, partnerships, and Nordic market presence.

• Expectation of increased upselling to existing customers and further market expansion outside the Nordics.