Lasernet Group (FPIP) Q1 2026 earnings summary

Executive summary

• Q1 2026 featured strong adjusted EBIT margins, a sharper market focus after rebranding to Lasernet, and the divestment of the public segment.

• Recurring revenue organic growth reached 11% year-over-year, with ARR at SEK 228 million, up from SEK 218 million.

• The company signed 18 new Dynamics customers and a significant Oracle ERP deal, with further details expected in Q2.

• Churn was mainly in banking and non-core segments, particularly X-Docs, totaling 3 MSEK.

• Completed restructuring and rebranding, focusing on a unified product portfolio and improved cost structure.

Financial highlights

• Adjusted EBIT margin improved to 19% from 1% year-over-year; adjusted EBIT was SEK 12 million versus SEK 1 million.

• EBITDA margin rose to 26% from 10% in Q1 2025, reflecting cost savings from prior reorganizations.

• SaaS revenue grew 12% year-over-year, while support and maintenance declined 11%; delivery revenue dropped 22%.

• Net sales were flat at SEK 60.9 million, but excluding FX effects, net sales grew 10%.

• Over 90% of revenue is recurring, supporting stable cash flow.

Outlook and guidance

• ACV and ARR are expected to continue growing, with a focus on expanding partner relationships and leveraging improved profitability.

• The new IFS partnership is in early stages; no significant deals expected in 2026.

• Recruitment will be limited to single-digit hires, mainly in go-to-market and sales roles.

• Cautious but realistic outlook for banking segment growth, especially with Temenos.

• Financial discipline and cost improvements expected to sustain profitability.