Slide 1: Interim Report July – September 2025
Interim Report July – September 2025 24 October 2025 Sleep Cycle © 2025 Sl eep Cycle AB. All Rights Reserv ed 1
Slide 2: Presenters
Presenters Erik Jivmark Elisabeth Hedman Chief Executive Officer Chief Finance Officer & Head of Investor Relations Sleep Cycle © 2025 Sl eep Cycle AB. All Rights Reserv ed 2
Slide 3: Our Mission is to improve global health by empowering people to take control of their sleep
Our Mission is to improve global health by empowering people to take control of their sleep. Sleep Cycle © 2025 Sl eep Cycle AB. All Rights Reserv ed 3
Slide 4: The World's No.1 Sleep App / Streams of Health Data
The World's No.1 Sleep Streams of Health Data Integrate with App Patented Technology Personalized Sleep Insights for Massive, Actionable Health Dataset Flexible SDK & Supporting Better Health R&D Capabilities With over 3 billion nights of anonymized sleep Deliver tailored, data-driven sleep insights
Slide 5: Our Long term Strategy
Our Long term Strategy "Powered By Sleep Cycle" User Acquisition User Engagement Platform and Data Improve the upper funnel Product development Monetization of data and technology Installs Conversion Data monetization Subscriptions Retention Technology licensing ARPU New products leveraging the plat
Slide 6: Taking Market Shares in an Evolving Market
Taking Market Shares in an Evolving Market Market share within the Health & Fitness category • Continued macro headwinds within Health & Fitness segment. 8% 7% 6% • Sleep Cycle is outperforming the broader 5% segment and compared to top competitors in 4% sleep tracking our relative performance is ev
Slide 7: Building a Smarter Sleep Experience
THE SLEEP CYCLE APP Building a Smarter Liquid Glass Design New premium design launched with iOS 26, enhancing Sleep Experience clarity and navigation. AI Sleep Coach Personal AI coach rolling out in Q4 to build healthier sleep habits and engagement Smart Alarm Upgrade Refined algorithm delivers more
Slide 8: Expanding reach through growing partnerships
POWERED BY SLEEP CYCLE Revenue through Partnerships Expanding reach through +55% Q3 2025 vs Q3 2024 growing partnerships 6.7 5.9 4.9 5.4 4.3 3.5 3.1 Through collaborations with health and wellness brands, 1.6 1.1 insurance providers, and corporate wellness programs, the Sleep 0.9 0.9 Cycle app is of
Slide 9: Sleep SDK
POWERED BY SLEEP CYCLE Sleep SDK A major step in bringing our sleep technology beyond our own app. The Sleep SDK lets partners integrate Sleep Cycle’s AI- driven sleep analysis directly into their products. Built on years of machine learning and acoustic research – enabling real-time, contactless sl
Slide 10: Solving a Public Health Problem at Scale
SLEEP APNEA SCREENING Solving a Public Health Problem at Scale 950M Age 30–69 suffer from mild to severe sleep apnea worldwide 80% Of individuals with Obstructive Sleep Apnea remain undiagnosed 3x Greater risk of heart disease, stroke, and diabetes Sleep Cycle © 2025 Sl eep Cycle AB. All Rights Rese
Slide 11: Strategic Leap into a Multi-Billion Market
SLEEP APNEA Strategic Leap into a Multi- Billion Market Q4 ‘25 and beyond March ‘25 June ‘25 Pre-sub meeting with Clinical study initiated Clinical study finalized Commercial Internal Documentation Continued A/B testing Submission to FDA & Go Live FDA and user interviews audit optimization Notified
Slide 12: Financial Development for Q3 2025
Financial Development for Q3 2025 -9.1 % -3.2 % -6.6 % 27.3 % YoY Subscriptions Growth YoY ARPU Growth YoY Net Sales Growth EBIT Margin FX Adjusted Growth -1.4% FX Adjusted Growth -4.7% 832 K 271 SEK 62 M SEK 17 M SEK Paying Subscribers ARPU Net Sales EBIT Sleep Cycle © 2025 Sl eep Cycle AB. All Rig
Slide 13: Paying Subscribers and Net Sales
Paying Subscribers Net Sales Number of paying subscribers decreased with –9.1% y-o-y to 832k, driven by a Net sales decreased by –6.6% as a result of a lower intake of new customers lower intake of new customers and focus on increasing ARPU for new combined with pressure on ARPU. Reported ARPU lags
Slide 14: EBIT and Adjusted EBIT
EBIT Adjusted EBIT Continued strong profitability for the business model with an EBIT of SEK 17m No NRIs affecting comparability during 2025. and EBIT-margin of 27.3% for Q3 2025. SEK mil lion SEK mil lion 25 50% 25 50% 21 22 20 21 22 45% 20 18 40% 21 20 21 17 17 20 20 40% 14 18 15 14 33.5% 30% 17 1
Slide 15: Solid Margin Performance, 27.3%, in a Challenging Market
Solid Margin Performance, 27.3%, in a Challenging Market SEK million Q3 2025 Q3 2024 CHANGE COMMENTS Decrease in net sales due to lower new customer intake and continued FX pressure. Renewed customers on a stable level. FX-adjusted net sales decreased with -4.7%. Revenue from partnerships increased
Slide 16: Building Long-term Value in a Shifting Market
Building Long-term Value in a Shifting Market SEK million Jan-Sep 2025 Jan-Sep 2024 CHANGE COMMENTS Net sales 190.0 194.8 -2.4% FX-adjusted net sales growth of -1.3% for the full period. Capitalized work for own account 2.1 0.2 -747.1% Capitalization related to the Sleep Apnea Screening initiative a
Slide 17: Quarterly Highlight
Quarterly Highlight 1 Momentum in transformation 2 Clinical trial ~20% 3 Growing partnerships, +55% Y-o-Y and +13% Q-o-Q Sleep Cycle © 2025 Sl eep Cycle AB. All Rights Reserv ed 17 17
Slide 18: Questions & Answers
Questions & Answers Sleep Cycle © 2025 Sl eep Cycle AB. All Rights Reserv ed 18