Waystream Group (WAYS) Q1 2025 earnings summary

Executive summary

• Net sales increased by 6.4% to SEK 37.7 million in Q1 2025, with EBITDA improving to SEK 7.4 million from SEK -0.2 million year-over-year.

• EBITDA margin reached 19.5% and EBIT improved to SEK 5.4 million, marking the third-best quarter in company history for both revenue and EBITDA.

• Cash flow from operating activities was strong at SEK 15.2 million, and liquidity was further strengthened with a cash position of SEK 16.9 million at quarter-end.

• Market position improved in Sweden and Germany, with significant sales growth in Europe, especially due to a major German operator contract.

• Gross margin improved to 49% from 39% year-over-year, driven by cost reductions and a favorable product mix.

Financial highlights

• Net sales: SEK 37.7 million, up 6.4% year-over-year.

• EBITDA: SEK 7.4 million (margin 19.5%), up from SEK -0.2 million (-0.6%) year-over-year.

• EBIT: SEK 5.4 million (margin 14.3%), up from SEK -1.9 million (-5.4%) year-over-year.

• Net income: SEK 4.0 million, up from SEK -1.7 million year-over-year.

• Earnings per share: SEK 0.50, up from SEK -0.21 year-over-year.

Outlook and guidance

• Continued focus on profitable growth and market share expansion, especially in operator segment and DACH region.

• Expectation of increased operator activity in the second half of 2025 or early 2026 in the Nordics.

• Ongoing efforts to optimize inventory and strengthen financial position throughout 2025.