iZafe Group (IZAFE-B) Q4 2025 earnings summary

Executive summary

• Transitioned to a fully recurring revenue model, with Q4 net sales of 2,435 TSEK, all from license revenues, and no hardware sales compared to the prior year.

• Annual recurring revenue (ARR) at the start of 2026 reached approximately 10 MSEK, meeting targets.

• Expanded Nordic and European presence through new distribution agreements in Iceland and Norway, and consolidated Dutch operations.

• Launched new modular external display and remote care system for Dosell after the quarter, enhancing product flexibility and scalability.

Financial highlights

• Q4 net sales: 2,435 TSEK (2,345 TSEK in Q4 2024), entirely recurring license revenues.

• Q4 EBIT: -5,714 TSEK (-5,679 TSEK in Q4 2024); Q4 EBITDA: -3,888 TSEK (-4,174 TSEK in Q4 2024).

• Q4 net result: -4,857 TSEK (-5,908 TSEK in Q4 2024); EPS: -0.01 SEK (-0.02 SEK in Q4 2024).

• Full-year net sales: 5,991 TSEK (7,954 TSEK in 2024), reflecting the shift to recurring revenues.

• Cash flow from operating activities Q4: -2,940 TSEK (-178 TSEK in Q4 2024); cash and cash equivalents at period end: 1,673 TSEK.

Outlook and guidance

• Entering 2026 with ARR of 10 MSEK and a stable, growing base.

• Focus for 2026 on expanding customer base and increasing penetration among existing customers.

• Ongoing ADDA procurement process in Sweden could further strengthen market position if successful.