Opsy (OPSYH ) Q3 2025 earnings summary

Executive summary

• Achieved 335% year-over-year revenue growth in Q3 2025, reaching 1,586 TSEK, with a 17% sequential increase in created cases to 1,046.

• Bruttomarginal improved to 85% from 71% year-over-year, reflecting operational leverage.

• Signed new agreements with Svedea and Vitea Life, and three additional Länsförsäkringsgruppen companies joined the platform.

• Secured ISO 27001 certification, enhancing credibility in data security.

Financial highlights

• Q3 2025 net revenue: 1,586 TSEK (up 335% YoY); Q3 EBITDA: -2,035 TSEK (improved from -2,371 TSEK YoY).

• Adjusted EBITDA for Q3: -1,608 TSEK, excluding 427 TSEK in one-time costs.

• Q3 operating cash flow: -883 TSEK, a 71% improvement from Q2 2025.

• Bruttomarginal: 85% in Q3 2025 (71% in Q3 2024).

• Soliditet at quarter-end: 19% (up from -10% YoY); liquidity at 93 TSEK.

Outlook and guidance

• Market potential estimated at 100 MSEK in recurring revenue, with current contracts representing 50 MSEK at full adoption.

• Strong pipeline with potential to add over 60 MSEK in annual revenue.

• Ongoing investments in AI support and product development to strengthen market position.