QBNK (QBNK) Q2 2025 earnings summary

Executive summary

• Revenue for Jan–Jun 2025 increased 3% year-over-year to 21.2 MSEK, with Q2 revenue up 6% to 10.6 MSEK.

• Annual recurring revenue (ARR) grew 6% year-over-year, reaching 37.6 MSEK at the start of July 2025.

• Net result after tax improved to -0.3 MSEK for Jan–Jun 2025, compared to -0.8 MSEK last year.

• Strategic review initiated in January 2025, incurring 0.4 MSEK in related costs for the half-year.

• CEO Anna Gomes announced her departure in August 2025.

Financial highlights

• EBITDA for Jan–Jun 2025 was -0.3 MSEK, up from -1.0 MSEK year-over-year; Q2 EBITDA was -0.4 MSEK, up from -1.4 MSEK.

• EBIT for Jan–Jun 2025 was -0.5 MSEK (margin -2.4%), compared to -1.1 MSEK (-5.4%) last year.

• Cash flow from operations for Jan–Jun 2025 was -3.7 MSEK, down from 7.5 MSEK last year.

• Cash and cash equivalents at June 30, 2025, were 17.8 MSEK, up from 16.0 MSEK a year earlier.

• No investments in tangible or intangible assets during the period.

Outlook and guidance

• Focus remains on ARR growth, minimizing deficits, and moving toward profitability.

• Product roadmap and customer expansion initiatives continue as planned.