Freja eID Group (FREJA) Investor Update summary

Key financial metrics

• Annual recurring revenue (ARR) for Freja eID reached 37.4 MSEK as of June 30, 2025, up 55% year-on-year and 21% since March 31, 2025.

• Net sales for the segment in Q2 2025 were 8.4 MSEK, a 39% increase from Q2 2024 and a 6% rise from Q1 2025.

• Subscription customers totaled 478 at the end of Q2 2025, up 19% year-on-year and 6% since March 31, 2025.

• Registered users reached 1,418,000, a 28% increase from June 2024 and 6% growth since March 2025.

Management commentary and outlook

• Management highlights a strong Q2, especially in ARR growth, and emphasizes the importance of long-term trends.

• Freja eID is described as a reliable growth engine with recurring SaaS revenue and high gross margins.

• The technology platform is noted for its international scalability and increasing underlying demand.

Company background and compliance

• Freja eID Group develops digital identification products and secure fulfillment services.

• Operations are based in Sweden and Serbia, with a listing on Nasdaq First North Premier Growth Market.

• The company is subject to EU market abuse regulations and maintains transparency in financial reporting.