Qbrick (QBRICK) Q4 2025 earnings summary

Executive summary

• Q4 2025 marked a key phase in the transformation toward a scalable, AI-driven SaaS video platform, with a focus on long-term profitability and recurring revenues.

• Strategic investments in technology and product development continued, including the launch of real-time AI avatars and expansion into new markets.

• Several significant agreements were reached, including a strategic partnership negotiation with Bonnier News AB and a new enterprise contract in Germany.

Financial highlights

• Q4 2025 net revenue was 6.5 MSEK, down 25% year-over-year (Q4 2024: 8.6 MSEK), mainly due to fewer production assignments.

• Full-year 2025 net revenue was 27.6 MSEK, nearly unchanged from 2024 (27.9 MSEK).

• Q4 2025 EBITDA was -0.5 MSEK (Q4 2024: 1.3 MSEK); full-year EBITDA was -2.1 MSEK (2024: -0.6 MSEK).

• Q4 2025 gross margin was 81.2% (Q4 2024: 84.7%); full-year gross margin was 77.8% (2024: 82.4%).

• Net result after financial items for 2025 was -12.5 MSEK (2024: -11.4 MSEK).

• Cash at year-end was 2.5 MSEK (2024: 3.9 MSEK); positive operating cash flow in Q4.

Outlook and guidance

• The company aims to achieve profitable growth in 2026, with a focus on SaaS-driven, recurring revenue streams and continued cost discipline.

• Ongoing transformation and investments are expected to yield a more scalable and predictable business model.