Servana (SERV) Q1 2025 earnings summary

Executive summary

• Strategic restructuring led to decision to divest core business and assets, including MedimiⓇSmart, to Danish partner CareConsult A/S, effective April 1, 2025.

• Danish operations continued positive development, driving sales growth for the tenth consecutive quarter.

• Swedish operations faced evaluation and personnel reductions as part of the wind-down.

• Agreement for a reverse acquisition of Userdesk AB announced, pending shareholder approval.

Financial highlights

• Net sales for Q1 2025 reached 1,349 KSEK, up 32% year-over-year from 1,025 KSEK.

• Result after financial items improved to -1,353 KSEK from -2,938 KSEK year-over-year.

• Cash and cash equivalents at period end were 716 KSEK, down from 8,678 KSEK a year earlier.

• Operating expenses decreased slightly to -3,837 KSEK from -3,872 KSEK, with higher personnel costs due to restructuring.

• Cash flow from operations was -2,239 KSEK, with total cash flow for the quarter at -4,467 KSEK, mainly due to loan repayments.

Outlook and guidance

• Company intends to fully wind down operations in Q2 2025 and divest the marketplace via a reverse acquisition.

• Future activities will depend on the successful completion of the Userdesk AB transaction.