Safestate Group (STATE) Q1 2026 earnings summary

Executive summary

• Completed integration of three businesses into a single platform and brand, resulting in substantial cost savings and operational efficiency.

• Revenue and EBITDA showed significant growth year-over-year, with net loss driven by non-cash amortization charges.

• Strategic partnerships, especially with Telenor Norway and Miss Group, are accelerating growth and expanding distribution.

• The company transitioned to IFRS reporting, restating historical data from January 2025.

Financial highlights

• Net sales for Q1 2026 were KSEK 13,072, up 67% from KSEK 7,835 in Q1 2025.

• EBITDA (excluding restructuring costs) was KSEK 6,811, up from KSEK 3,992, with an EBITDA margin of about 52%.

• Net result for the period was KSEK -3,539, compared to KSEK -1,392 the previous year.

• Gross ARR reached MSEK 73 at the end of Q1 2026, up from MSEK 44.3.

• Cash balance increased to MSEK 12.5 from MSEK 3.0 year-over-year.

Outlook and guidance

• Significant growth expected in coming quarters as partner-led model matures and committed rollouts are executed.

• Revenue from new partnerships is anticipated to materialize one to two quarters after signing.