Qbrick (QBRICK) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was 7.2 MSEK, down 3% year-over-year due to a tougher market and delayed customer projects.

• EBITDA was -1.0 MSEK, lower than -0.8 MSEK in Q1 2024, mainly from a lower gross margin.

• New CEO Krister Karjalainen appointed in February, with a focus on growth, innovation, and commercial transformation.

• Launched the world's first interactive AI-avatar video platform, targeting scalable and cost-effective business communication.

• Secured a bridge loan of 4.0 MSEK after the quarter to strengthen working capital.

Financial highlights

• Net sales: 7.2 MSEK (Q1 2024: 7.4 MSEK), a 3% decrease year-over-year.

• EBITDA: -1.0 MSEK (Q1 2024: -0.8 MSEK); EBIT: -3.6 MSEK (Q1 2024: -3.4 MSEK).

• Gross margin: 79.8% (Q1 2024: 82.7%), impacted by more production assignments with lower profitability.

• Cash at period end: 2.4 MSEK (Q1 2024: 7.4 MSEK); equity ratio: 56.5% (Q1 2024: 69.2%).

• EPS: -0.05 SEK (Q1 2024: -0.04 SEK); shares outstanding: 77,916,211.

Outlook and guidance

• Core SaaS platform sales remain stable despite temporary revenue dip.

• Ongoing transformation to an AI-driven company, with strategic focus on customer value, AI products, packaging, and sales precision.

• Management expects strategic initiatives and new products to drive future revenue growth.