Nowonomics (NOWO) Q4 2025 earnings summary

Executive summary

• Revenue increased by 17% to 19.1 MSEK for the full year 2025 compared to 2024, with a 23% increase in Q4 year-over-year.

• EBITDA improved by 2.5 MSEK to -10.2 MSEK for the year, but Q4 EBITDA declined to -3.8 MSEK due to higher marketing costs.

• Net result per share improved to -0.7 SEK for the year and remained at -0.2 SEK in Q4.

• Strategic acquisitions of three funds during 2025 are expected to increase managed capital by over 300 MSEK.

• The company is moving towards more stable profitability and reduced reliance on extraordinary income.

Financial highlights

• Full-year net sales reached 15.9 MSEK, up from 12.9 MSEK in 2024.

• Operating loss (EBIT) for the year was -16.9 MSEK, an improvement from -18.8 MSEK in 2024.

• Cash and bank balances at year-end were 8.4 MSEK, up from 6.4 MSEK.

• Total assets under management (AUM) at year-end were 980 MSEK, including the MetaSpace Fund takeover.

• Number of active accounts decreased to 90,625 due to closure of inactive accounts.

Outlook and guidance

• The company expects positive contributions from the MetaSpace Fund acquisition in 2026, pending regulatory approval.

• Ongoing investments in marketing and product development are expected to drive future growth and user volume.

• The board believes current financing is sufficient for the next 12 months.