Waystream Group (WAYS) Q2 2025 earnings summary

Executive summary

• Revenue grew 6% year-over-year in Q2 2025 to 35.2 MSEK, with EBITDA up 83% to 6.4 MSEK and an EBITDA margin of 18%.

• First half 2025 revenue rose 6% to 72.9 MSEK, EBITDA increased 320% to 13.8 MSEK, and EBITDA margin reached 19%.

• Positive operating cash flow of 11.3 MSEK in Q2 and 26.4 MSEK for the first half, with EPS at 0.40 SEK for Q2 and 0.90 SEK for H1.

• Market share gains in the Nordics and Central Europe, with strengthened financial position and cost reductions.

Financial highlights

• Q2 gross margin stable at 48%, with EBIT up 148% to 4.3 MSEK and EBIT margin at 12%.

• Net income for Q2 was 3.2 MSEK, up from 1.0 MSEK year-over-year.

• Cash and bank balances at 14.2 MSEK as of June 30, 2025.

• Equity at period end was 64.6 MSEK, with solid operating cash flow and reduced credit utilization.

Outlook and guidance

• Continued focus on profitable growth, cost control, and strengthening liquidity.

• Ongoing strategy to expand in operator segment and further internationalize sales.

• Expectation of further market share gains, especially outside the Nordics.