New Bubbleroom Sweden (BBROOM) Q3 2025 earnings summary

Executive summary

• Q3 2025 saw a 2.8% sales decline due to low stock, price pressure, and assortment transition, with overall net sales at SEK 89.4 million and negative EBITDA of SEK -8.5 million.

• Cost efficiencies, lower return rates, and liquidity improvements did not offset lower sales and margin, resulting in negative profitability.

• Positive sales and profitability trend began mid-August with the autumn season, though Zalando sales remained weak until September.

Financial highlights

• Net sales for Q3 2025 were SEK 89.4 million, down 2.8% year-over-year; gross margin was 59.8% (down from 63.2%).

• EBITDA for Q3 2025 was SEK -8.5 million (vs. -5.0 million last year); EBIT was SEK -11.1 million (vs. -7.5 million).

• For Jan–Sep 2025, net sales were SEK 316.8 million, down 2.9% year-over-year; gross margin was 63.4% (down from 66.2%).

• Q3 net result: SEK -11.3 million (vs. -7.7 million last year); EPS: -0.73 SEK (vs. -0.49 SEK).

• Operating cash flow after investments in Q3 was SEK -22.6 million (vs. -42.5 million last year).

Outlook and guidance

• Assortment change is ongoing and expected to be crucial for recovery, with a strong autumn start and positive trend in sales and profitability.

• Cost savings program targets 4–6 MSEK in annual savings, with full effect from Q2 2026.

• Geographic expansion continues, with new markets planned for 2026 and positive performance in the Netherlands.