Opsy (OPSYH ) Q1 2025 earnings summary

Executive summary

• Q1 2025 marked a transformative period with the completion of a reverse acquisition, transition to a public company, and new leadership.

• Revenue grew 597% year-over-year to 1,015 KSEK, driven by new and existing customer contracts.

• Significant customer wins included agreements with ICA Försäkring and JW Loss Adjusting, expanding the client base to six Swedish insurers.

• The company is positioned as a compliance-focused SaaS platform for insurance medical advisory, addressing increasing regulatory demands.

Financial highlights

• Net revenue for Q1 2025 was 1,015 KSEK, up from 146 KSEK in Q1 2024.

• EBITA was -5,660 KSEK (Q1 2024: -3,775 KSEK), impacted by 3,208 KSEK in listing costs related to the reverse acquisition.

• EBIT was -6,978 KSEK (Q1 2024: -3,775 KSEK); net result was -7,016 KSEK (Q1 2024: -3,797 KSEK).

• Gross margin improved to 47% from -14% in the prior year.

• Cash flow from operations was -1,350 KSEK, but total cash flow was positive at 3,059 KSEK due to acquired cash in the reverse acquisition.

Outlook and guidance

• The company expects continued strong growth, supported by a growing customer base, scalable business model, and sufficient cash to reach positive cash flow without new capital or contracts.

• Opsy is well-positioned to benefit from increasing regulatory complexity in the insurance sector and ongoing digitalization.