Time People Group (TPGR) Q1 2026 earnings summary

Executive summary

• Revenue for May–July 2025 was 36.1 MSEK, down 13% year-over-year from 41.7 MSEK.

• Adjusted EBITDA (excluding one-time costs) improved to -2.1 MSEK from -4.0 MSEK, with margin at -5.8% versus -9.5%.

• EBIT was -4.3 MSEK (including 1.4 MSEK goodwill amortization and 0.8 MSEK one-time costs), up from -5.5 MSEK.

• Net result after tax was -4.7 MSEK, an improvement from -5.7 MSEK year-over-year.

• The negative trend of the past three years has been broken, with a focus on tighter group collaboration and efficiency.

Financial highlights

• Revenue declined 13% year-over-year to 36.1 MSEK; full-year revenue fell 28% to 183.4 MSEK.

• Adjusted EBITDA margin improved to -5.8% from -9.5% year-over-year.

• EBIT margin was -11.9%, up from -13.2% year-over-year.

• Cash flow from operations was -3.9 MSEK, down from 1.7 MSEK in the prior year.

• Average number of employees decreased 10% to 113.

Outlook and guidance

• Focus remains on reducing overhead, strengthening capital structure, and deepening group synergies.

• Expansion into new sectors such as defense, medtech, energy, and e-health is underway.

• AI is prioritized for both client delivery and internal processes to boost efficiency.