Precio Fishbone (PRCO) Q4 2025 earnings summary

Executive summary

• Revenue for Q4 2025 increased by 4.1% year-over-year to 47.7 MSEK, while full-year revenue declined by 2.4% to 168.9 MSEK compared to 2024.

• EBITA for Q4 rose to 2.0 MSEK (1.5), with a margin of 4.2% (3.3%), and full-year EBITA was 6.3 MSEK (9.8), margin 3.7% (5.6%).

• Net profit for the year surged to 21.8 MSEK (7.9), mainly due to a 19.8 MSEK gain from divestment of subsidiaries.

• Cash flow before working capital changes improved to 28.8 MSEK (17.1) for the year.

• Board proposes a dividend of 0.50 SEK per share (0.45).

Financial highlights

• Q4 net profit after tax was 0.7 MSEK (1.5), EPS 0.08 SEK (0.17); full-year EPS was 2.38 SEK (0.87).

• Cash flow from operations before working capital changes was 3.1 MSEK (6.8) in Q4.

• Total cash flow in Q4 was -1.7 MSEK, impacted by a short-term loan and earn-out payment.

• Equity at year-end was 175.6 MSEK (159.3), with a solid equity ratio of 77%.

Outlook and guidance

• Market recovery in system development is ongoing but slow, with weak price trends.

• Growth focus remains on web development, security, and leveraging AI capabilities.

• Public sector remains the largest segment, though its share is declining.

• Targeted growth rate of 10% faces challenges in new customer acquisition.