Opsy (OPSYH ) Q4 2025 earnings summary

Executive summary

• Q4 2025 saw strong growth, with created cases up 45% and net sales up 62% compared to Q3, driven by both existing and new customers.

• Four new customer agreements were signed, including Svedea, Vitea Life, and Crawford & Company, strengthening market position.

• The company completed a directed share issue of approximately 3.5 MSEK to accelerate product development and market expansion.

Financial highlights

• Net sales for Q4 2025 reached 2,562 TSEK, up 266% year-over-year and 62% sequentially from Q3.

• EBITDA for Q4 was -1,654 TSEK, a 19% improvement from Q3; adjusted EBITDA was -1,623 TSEK, excluding 32 TSEK in one-time costs.

• Full-year 2025 net sales totaled 6,691 TSEK, up 350% from 2024; full-year EBITDA was -12,011 TSEK, with adjusted EBITDA at -6,438 TSEK.

• Operating cash flow for Q4 was -1,354 TSEK; full-year operating cash flow was -6,683 TSEK.

• Gross margin remained high at 90% in Q4.

Outlook and guidance

• Focus for 2026 is on enabling secure automation in insurance medicine and converting existing contract potential into increased usage.

• The company sees continued market interest in AI-driven solutions and expects regulatory changes to shape industry dynamics.