Oneflow (ONEF) Q1 2026 earnings summary

Executive summary

• ARR reached SEK 194.2 million in Q1, up 18% year-over-year, with Net New ARR at SEK 11.1 million, and productivity per employee up 49% year-over-year.

• Net sales grew 22% year-over-year to SEK 48 million, with 44% of sales outside Sweden and 99% recurring revenue.

• Gross margin remained high at 92–93%, and EBITDA margin improved to 16%, marking the third consecutive quarter of positive EBITDA.

• Positive net cash flow of SEK 7.4 million achieved in Q1, reflecting improved profitability and cash generation.

• Retention rates improved, with net retention at 97% and gross retention at 87%.

Financial highlights

• Net income for the quarter was SEK -5.8 million, a significant improvement from SEK -19.2 million in Q1 2025.

• Cash at end of Q1 was SEK 50 million.

• ARR per FTE rose 49% year-over-year to SEK 1,348 thousand.

• Average Revenue Per Account (ARPA) increased 9% to SEK 41.7 thousand.

• EBIT margin improved to -12% from -49% year-over-year, with ongoing investments in product development.

Outlook and guidance

• Long-term targets remain: ARR growth over 30% year-over-year and profitability within current funding.

• Short-term focus is on achieving sustainable profitability before re-accelerating growth.

• Expectation of continued improvement in retention metrics and stable working capital.