QBNK (QBNK) Q4 2025 earnings summary

Executive summary

• Achieved full-year revenue of 41.4 MSEK, up 3% year-over-year, with EBIT of 0.2 MSEK, marking a return to profitability after prior losses.

• Adjusted EBIT for the year was 1.3 MSEK, excluding 1.1 MSEK in one-time strategic review and restructuring costs.

• Annual Recurring Revenue (ARR) ended at 36.6 MSEK, showing underlying growth despite a dip from a major customer change.

• Strategic focus shifted to enterprise (A) customers, now representing 75% of ARR, improving long-term stability.

• New CEO Jörgen Karlsson appointed, succeeding interim CEO Jacob Philipson.

Financial highlights

• Full-year EBITDA was 0.6 MSEK, up from -1.3 MSEK year-over-year.

• Q4 revenue was flat at 10.0 MSEK; Q4 EBIT was -1.1 MSEK, impacted by 0.5 MSEK in restructuring costs.

• Cash flow from operations for the year was -4.8 MSEK, down from 13.1 MSEK the previous year.

• Cash and cash equivalents at year-end were 16.8 MSEK, down from 21.5 MSEK.

• Equity ratio remained stable at 14% year-over-year.

Outlook and guidance

• Entering 2026 with a solid core business and focus on enterprise customers.

• Launch of new QPortal product expected to drive future growth.

• Anticipates continued stability and growth in ARR from prioritized customer segments.