TapTravel Nordic (TAPTRAVEL) Q2 2025 earnings summary

Executive summary

• Achieved over 90% digital conversion rate in new customer implementations, enabling cost reductions in FTEs, licenses, and related areas.

• Introduced new AI-based functionalities, improving productivity and supporting further operating expense reductions projected to reach SEK 20 million by 2026.

• Total sales slightly below budget due to reduced travel demand, especially to the U.S., and termination of contracts with low digital conversion.

• Persistent working capital challenges, with delayed payments and increased advance payments impacting liquidity; Q2 interest payment delayed to September.

• Completed development of white-label sites, to be rolled out to new key customers and partners.

Financial highlights

• Q2 2025 total revenue: SEK 181,090k, down from SEK 196,520k in Q2 2024.

• EBITDA for Q2 2025: SEK 11,332k, up from SEK 9,018k in Q2 2024.

• Operating result (EBIT) for Q2 2025: SEK -6,723k, compared to SEK 22,973k in Q2 2024.

• Net result for Q2 2025: SEK -16,539k, compared to SEK 20,119k in Q2 2024.

• Cash flow for Q2 2025: SEK -6,789k, compared to SEK -7,164k in Q2 2024.

Outlook and guidance

• Further operating expense reductions expected in coming quarters due to digitalization and AI-driven productivity gains.

• Total projected cost savings of approximately SEK 20 million by 2026.

• New customer prioritization based on payment solutions to address working capital issues.