Invoicery Group (FRILAN) Q1 2026 earnings summary

Executive summary

• Revenue grew 1.9% year-over-year to 432 MSEK in Q1 2026, with improved profitability and positive net income despite seasonal weakness.

• EBITDA rose to 5.4 MSEK (1.24% margin), and net income reached 4.4 MSEK, up from -0.3 MSEK last year.

• Growth was driven by both B2C (Egenanställning) and B2B (Workforce Management), with international markets showing strong momentum.

Financial highlights

• Operating income improved to 4.7 MSEK from -0.6 MSEK, with an operating margin of 1.1%.

• EPS increased to 0.15 SEK from -0.01 SEK year-over-year.

• Equity rose to 68 MSEK, with a solidity ratio of 23.3%.

• Cash flow from operations was -29.2 MSEK, mainly due to changes in working capital.

• Cash and equivalents at period end were 117.4 MSEK, up from 100.1 MSEK.

Outlook and guidance

• Continued focus on international expansion and platform development, especially AI-driven features.

• Vision remains to become the leading portal for project-based work in Europe.

• Anticipates regulatory changes in platform work and is proactively adapting processes.