Qualisys (QSYS) Q3 2025 earnings summary

Executive summary

• Net sales for Q3 2025 were SEK 54.3 million, down 13.8% year-over-year; currency-adjusted decrease was 8.2%.

• Operating profit (EBIT) for Q3 was SEK 8.0 million, a 49.4% decline from the prior year.

• Net profit for Q3 was SEK 6.2 million, with EPS of SEK 0.62.

• For the first nine months, net sales grew 2.7% to SEK 169.0 million; currency-adjusted growth was 5.9%.

• The CEO maintains confidence in achieving full-year targets of 15% currency-adjusted growth and 20% EBIT margin.

Financial highlights

• Q3 gross margin improved to 70.7% from 69.2% year-over-year.

• EBIT margin for Q3 was 14.7% (down from 25.1% last year).

• Cash flow from operating activities after investments in Q3 was SEK -2.1 million, compared to SEK 6.8 million last year.

• Net cash flow for Q3 was SEK -4.2 million, with cash and cash equivalents at SEK 49.1 million as of September 30, 2025.

• Dividend of SEK 30 million paid in May 2025.

Outlook and guidance

• Full-year financial targets remain 15% currency-adjusted growth and 20% EBIT margin.

• Market optimism is increasing, with improved order situation and project initiations toward the end of Q3.

• Commercial launch of OnTraq, a markerless technology product with a subscription model, is expected soon.