Pixfam (PIXFAM) Q3 2025 earnings summary

Executive summary

• Transitioned from Kiliaro Group AB to Pixfam AB, reflecting a strategic shift and new focus on the Pho2book app alongside the established Kiliaro app.

• Pho2book targets the growing global photobook market, with launch planned in multiple languages and strategic partnerships, especially in Turkey.

• Significant cost reductions and debt reduction achieved, positioning the company for a new growth phase.

Financial highlights

• Q3 2025 net revenue was SEK 24,682, up from SEK 8,620 in Q3 2024.

• EBITDA improved to SEK -952,737 from SEK -10,061,315 year-over-year.

• Operating loss narrowed to SEK -2,341,018 from SEK -4,767,284 year-over-year.

• Net loss after tax was SEK -2,455,946, an improvement from SEK -4,336,823 in Q3 2024.

• Cash flow for the first nine months was positive at SEK 1,425,013, mainly due to the divestment of a subsidiary.

Outlook and guidance

• Sufficient funds secured to launch Pho2book, with further capital raise planned post-launch to build on expected traction.

• Management expects continued growth in the photobook segment and aims for rapid profitability with the new app.