Waystream Group (WAYS) Q3 2025 earnings summary

Executive summary

• Net sales increased by 19.2% year-over-year to 30,286 tkr in Q3 2025, with EBITDA improving to 4,970 tkr from -1,314 tkr and an EBITDA margin of 16.4% compared to -5.2% last year.

• For the first nine months, net sales rose 9.7% to 103,227 tkr, EBITDA reached 18,731 tkr (up from 1,965 tkr), and EBITDA margin was 18.1% (2.1%).

• Bruttomarginal improved to 49% in Q3 2025 from 37% in Q3 2024, driven by increased operator segment sales and cost reductions.

• Net result for Q3 was 2,172 tkr (up from -2,259 tkr), and EPS was 0.27 kr (from -0.28 kr).

Financial highlights

• Q3 2025 net sales: 30,286 tkr (up 19% YoY); nine months: 103,227 tkr (up 10% YoY).

• Q3 EBITDA: 4,970 tkr (margin 16.4%); nine months EBITDA: 18,731 tkr (margin 18.1%).

• Q3 EBIT: 2,841 tkr (margin 9.4%); net result: 2,172 tkr.

• Cash flow from operations in Q3: -652 tkr; nine months: 25,777 tkr.

• Equity at period end: 67,179 tkr; cash and bank: 8,141 tkr.

Outlook and guidance

• Focus remains on increasing sales, product development, cost control, and reducing production costs.

• Continued growth expected in operator segment and Central Europe, leveraging digitalization and EU broadband initiatives.