Interim Report January - June 2025
"I am pleased to see our transformation strategy translating into results, with strong core revenue growth in the quarter and for the first half, with strong margins along with a successful monetization of our PC assets."
Adam Philpott, CEO
Highlights
- Robust sales performance, with revenue increasing by 40 percent compared to last year (56 percent in constant currency).
- Gross margin remained strong at 48.1%, significantly higher than the levels in our exited Mobile and PC businesses.
- On August 7, 2025, PC assets were licensed to Egis Technology in a SEK 24 M deal, with additional royalty upside.
Second quarter of 2025
- Revenues amounted to SEK 15.7 M (11.2)
- The gross margin was 48.1 percent (53.5)
- EBITDA amounted to negative SEK 20.3 M (neg: 57.6)
- Adjusted EBITDA amounted to negative SEK 20.3 M (neg: 57.6)
- The operating result was negative SEK 30.5 M (neg: 69.2)
- Earnings per share before and after dilution amounted to SEK 0.00 (neg: 0.01) **
- Cash flow from operating activities was negative SEK 18.3 M* (neg: 20.9), including SEK 0.2 M attributable to discontinued operations
January - June 2025
- Revenues amounted to SEK 33.9 M (20.4)
- The gross margin was 53.0 percent (59.0)
- EBITDA amounted to negative SEK 9.7 M (neg: 113.3)
- Adjusted EBITDA amounted to negative SEK 9.7 M (neg: 113.3)
- The operating result was negative SEK 30.8 M (neg: 136.5)
- Earnings per share before and after dilution amounted to SEK 0.00 (neg: 0.03) **
- Cash flow from operating activities was negative SEK 54.7 M* (neg: 81.0), including a negative SEK 22.0 M attributable to discontinued operations
| SEK M | Apr-jun 2025 | Apr-jun 2024 | Change, % | Jan-jun 2025 | Jan-jun 2024 | Change, % | Jan-dec 2024 |
| Revenue | 15.7 | 11.2 | 40 | 33.9 | 20.4 | 66 | 60.2 |
| Gross profit | 7.6 | 6.0 | 26 | 17.9 | 12.0 | 49 | 36.6 |
| Gross margin, % | 48.1 | 53.5 | -5 pp | 53.0 | 59.0 | -6 pp | 60.9 |
| Operating profit/loss | -30.5 | -69.2 | -30.8 | -136.5 | -421.1 | ||
| Operating margin, % | -194.0 | -615.6 | -91.0 | -670.0 | -699.6 | ||
| EBITDA | -20.3 | -57.6 | -9.7 | -113.3 | -181.7 | ||
| Adjusted EBITDA | -20.3 | -57.6 | -9.7 | -113.3 | -181.7 | ||
| Profit/loss remaining operations | -30.8 | -80.5 | -36.5 | -154.1 | -465.9 | ||
| Profit/loss for discontinued operations | 8.1 | -103.2 | -3.0 | -115.5 | -222.4 | ||
| Profit/loss per share before and after dilution, SEK* | -0.00 | -0.01 | -0.00 | -0.03 | -0.05 | ||
| Cash and cash equivalents* | 32.7 | 189.5 | -83 | 32.7 | 189.5 | -83 | 12.1 |
| Cash flow from operating activities* | -18.3 | -20.9 | -54.7 | -81.0 | -207.6 | ||
| Equity/assets ratio, %* | 89.7 | 64.5 | 89.7 | 64.5 | 65.1 | ||
| Average number of employees* | 36 | 133 | -73 | 40 | 137 | -71 | 107 |
* Including discontinued operations. ** As the subscription price in the 2024 rights issue was below the market price, a fund element has been identified, which means that the comparison figures have been recalculated.
Latest updated: 8/13/2025 4:08:13 PM by Stefan Pettersson