Nowonomics (NOWO) Q2 2025 earnings summary

Executive summary

• Revenue increased to 4.0 MSEK for Q2 2025, up from 3.7 MSEK year-over-year; H1 revenue reached 7.8 MSEK, up from 6.2 MSEK.

• EBITDA improved to -2.6 MSEK in Q2 2025 from -4.3 MSEK; H1 EBITDA at -7.3 MSEK, up from -9.6 MSEK.

• Assets under management (AUM) reached 707.9 MSEK at period end, a record high.

• Net result per share for Q2 was -0.17 SEK, improved from -0.34 SEK; H1 at -0.43 SEK, up from -0.84 SEK.

• Nowo Global Fund outperformed its benchmark, generating performance-based fees and reaching a new high water mark in July.

Financial highlights

• Q2 net sales were 3.2 MSEK (2.8 MSEK last year); H1 net sales 6.1 MSEK (4.4 MSEK last year).

• Operating loss (EBIT) for Q2 was -4.2 MSEK (-5.9 MSEK); H1 EBIT -10.5 MSEK (-12.6 MSEK).

• Cash and bank balances at June 30, 2025, were 5.3 MSEK (13.0 MSEK last year).

• Equity at period end was 10.0 MSEK (18.1 MSEK last year).

• Number of active accounts decreased to 90,006 due to closure of inactive accounts.

Outlook and guidance

• Cost-saving programs are expected to have full effect in Q3, supporting monthly profitability.

• Early Q3 performance is strong, with positive monthly results anticipated due to cost savings and performance fees.

• Plans to increase new member acquisition in H2, correlating with increased marketing activities.