Terranet (TERRNT) Q1 2025 earnings summary

Executive summary

• New CEO Lars Lindell started in March 2025, bringing a focus on commercialization and revenue generation.

• Advanced Blink/BlincVision from prototype to MVP, with customer delivery and testing targeted for Q3–Q4 2025.

• Proof of Concept validated with MobilityXlab and an industry partner, confirming technology potential and providing valuable insights.

• Strengthened patent portfolio with new applications and ongoing IP protection.

• Team expansion in software, computer vision, AI, and systems engineering to support product development.

Financial highlights

• Q1 2025 revenue was 0 TSEK, down from 380 TSEK in Q1 2024.

• Operating loss (EBIT) for Q1 2025 was -9,176 TSEK; net loss was -9,851 TSEK.

• Cash and equivalents at period end were 4,952 TSEK; equity at period end was 18,847 TSEK with a solidity of 40.7%.

• Secured 8.2 million SEK in a directed share issue, with additional directed and rights issues totaling 40 million SEK guaranteed.

• Option program TO9 could provide an extra 15 million SEK in December 2025, extending runway into Q2 2026.

Outlook and guidance

• Cash position, including all financing, is expected to last until Q2 2026.

• MVP of Blink/BlincVision to be tested in customer vehicles in Q3 and Q4 2025, with partner feedback guiding further development.

• Focus on achieving revenues quickly, exploring new partnerships, certifications, and strategic planning for 2026.